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UMH Properties, Inc. (UMH)
Chart Events
Performance Outlook
| Previous Close | 13.85 |
| Open | 13.78 |
| Bid | 0.00 x 800 |
| Ask | 0.00 x 800 |
| Day's Range | 13.58 - 13.97 |
| 52 Week Range | 8.63 - 16.64 |
| Volume | 50,256 |
| Avg. Volume | 168,253 |
| Market Cap | 561.834M |
| Beta (5Y Monthly) | 1.10 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -0.75 |
| Earnings Date | Nov 04, 2020 |
| Forward Dividend & Yield | 0.72 (5.20%) |
| Ex-Dividend Date | Nov 13, 2020 |
| 1y Target Est | 17.58 |
Fair Value
Related Research
- Motley Fool
Is UMH Properties a Millionaire-Maker REIT?
Manufactured housing communities don't usually top the list of the most desirable real estate investments. Clearly, the REIT has had millionaire-making potential in the past. UMH Properties has a long history of steadily growing its portfolio of communities.
- GlobeNewswire
UMH PROPERTIES, INC. COMPLETES ITS REDEMPTION OF ITS SERIES B PREFERRED STOCK
FREEHOLD, NJ, Oct. 20, 2020 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH) today announced that on October 20, 2020, it completed its previously announced redemption of all 3,800,669 issued and outstanding shares of its 8.0% Series B Cumulative Redeemable Preferred Stock (the “Series B Preferred Stock”) (CUSIP 903002301). The redemption price was equal to the $25.00 per share liquidation preference plus accrued and unpaid dividends to, but not including, the October 20, 2020 redemption date in an amount of $0.2722 per share, for a total payment of $25.2722 per share. Samuel A. Landy, President and Chief Executive Officer, commented, "UMH is pleased to announce our completion of the redemption of our Series B Preferred Stock. We were in large part able to fund the redemption with our recently created $106 million credit facility with the Federal National Mortgage Association (Fannie Mae). That facility has a ten-year term with a fixed rate of 2.62%. The funding under the new Fannie Mae facility and redemption of the Series B Preferred will result in savings of over $5 million annually. The Company continues to lower its cost of capital which will enable it to, among other corporate purposes, continue to pursue acquisitions, proceed with community expansions and fund its rental home program.”UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities with approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities. Certain statements included in this press release which are not historical facts may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements are based on the Company’s current expectations and involve various risks and uncertainties. Although the Company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can provide no assurance those expectations will be achieved. The risks and uncertainties that could cause actual results or events to differ materially from expectations are contained in the Company’s annual report on Form 10-K and described from time to time in the Company’s other filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.Contact: Nelli Madden 732-577-9997 UMH PROPERTIES, INC. Juniper Business Plaza 3499 Route 9 North, Suite 3-C Freehold, NJ 07728 (732) 577-9997 Fax: (732) 577-9980
- GlobeNewswire
UMH PROPERTIES, INC. ENTERS INTO NEW REVOLVING CREDIT AGREEMENT
FREEHOLD, NJ, Oct. 07, 2020 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE: UMH), today announced that it entered into a revolving line of credit secured by rental homes and rental home leases in several of our manufactured home communities with FirstBank (the “Facility”). The Facility allows for proceeds of $20 million and is expandable to $30 million with an accordion feature. The Facility has a three-year term with competitive pricing. Samuel A. Landy, President and Chief Executive Officer commented, "UMH is pleased to announce this new Facility. FirstBank understands the solution to the rural affordable housing crisis is rental manufactured homes in professionally managed communities. Residents live in 1,000 sq. ft., three-bedroom, two-bathroom homes on 5,000 sq. ft. lots with their own driveway and no common wall neighbors for rents as low as $750 per month. The quality of the product and the affordability of the rent have enabled UMH to achieve 95% rental occupancy and 98% rent collection through the COVID-19 crisis. The ability to tap into the rental home equity at low rates will allow UMH to continue to provide the highest quality affordable housing while generating increased returns for shareholders. We look forward to entering this new relationship with FirstBank and expanding upon this program in the future.” UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities with approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. Contact: Nelli Madden 732-577-9997 UMH PROPERTIES, INC. Juniper Business Plaza 3499 Route 9 North, Suite 3-C Freehold, NJ 07728 (732) 577-9997 Fax: (732) 577-9980
