UMH PROPERTIES, INC. REACHES $1 BILLION EQUITY MARKET CAPITALIZATION

Rhea-AI Summary

UMH Properties, Inc. (NYSE:UMH) reported having 46,853,371 shares outstanding as of June 7, 2021, an increase attributed to its Common Stock At-The-Market (ATM) Sales Program.

CEO Samuel A. Landy announced a milestone of over $1 billion in equity market capitalization, aiming to improve liquidity for shareholders. The company operates 127 manufactured home communities across various states and holds a portfolio of REIT securities.

Positive

• Equity market capitalization surpassed $1 billion, potentially enhancing liquidity for shareholders.
• Increase in shares outstanding indicates ongoing capital-raising initiatives through the ATM Sales Program.

Negative

• None.

FREEHOLD, NJ, June 08, 2021 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) today announced that as of June 7, 2021, the Company had outstanding 46,853,371 shares of the Company’s common stock. Increases in shares outstanding since the number reported in the Company’s March 31, 2021 Form 10-Q are due primarily to issuance of shares under the Company’s Common Stock At-The-Market (“ATM”) Sales Program. 

Samuel A. Landy, President and Chief Executive Officer, commented, “We are proud that we have reached an equity market capitalization of over $1 billion dollars. This milestone should enhance the liquidity of our stock for shareholders.” 

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 127 manufactured home communities with approximately 24,000 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland, Michigan, Alabama and South Carolina. In addition, the Company owns a portfolio of REIT securities. 

Contact: Nelli Madden

732-577-4062

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FAQ

What is the current number of outstanding shares for UMH Properties as of June 2021?

As of June 7, 2021, UMH Properties has 46,853,371 shares of common stock outstanding.

What milestone did UMH Properties achieve regarding its market capitalization?

UMH Properties announced that it reached an equity market capitalization of over $1 billion.

What strategic program is contributing to the increase in UMH's shares outstanding?

The increase in shares outstanding is primarily due to the issuance of shares under the Common Stock At-The-Market (ATM) Sales Program.

How many manufactured home communities does UMH Properties operate?

UMH Properties owns and operates 127 manufactured home communities.