8-K
Umh Properties, Inc. (UMH)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
Washington,D.C. 20549
FORM8-K
CURRENTREPORT
Pursuantto Section 13 or 15(d) of The Securities Exchange Act of 1934
Dateof Report (Date of earliest event reported): July 24, 2020
UMHProperties, Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-12690 | 22-1890929 |
|---|---|---|
| (State<br> or other jurisdiction | (Commission | (IRS<br> Employer |
| of<br> incorporation) | File<br> Number) | Identification<br> No.) |
| Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ | 07728 |
|---|---|
| (Address<br> of principal executive offices) | (Zip<br> Code) |
| Registrant’s telephone number, including area code: | (732) 577-9997 |
| --- | --- |
NotApplicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| [ ] | Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| [ ] | Soliciting<br> material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12) |
| [ ] | Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| [ ] | Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title<br> of each class | Trading<br> Symbol(s) | Name<br> of exchange on which registered |
|---|---|---|
| Common<br> Stock, $.10 par value | UMH | New<br> York Stock Exchange |
| 8.0%<br> Series B Cumulative Redeemable Preferred Stock, $.10 par value | UMH<br> PRB | New<br> York Stock Exchange |
| 6.75%<br> Series C Cumulative Redeemable Preferred Stock, $.10 par value | UMH<br> PRC | New<br> York Stock Exchange |
| 6.375%<br> Series D Cumulative Redeemable Preferred Stock, $.10 par value | UMH<br> PRD | New<br> York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ]
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
| Item 7.01 | Regulation FD Disclosure. |
|---|
On July 24, 2020, the Company issued a press release announcing that it closed on an acquisition of one community in Pennsylvania.
| Item 9.01 | Financial Statements and Exhibits. |
|---|---|
| (d) | Exhibits. |
| --- | --- |
| 99 | Press Release dated July 24, 2020 |
| 2 |
| --- |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UMH Properties, Inc. | ||
|---|---|---|
| Date:<br> July 24, 2020 | By: | /s/ Anna T. Chew |
| Name: | Anna<br> T. Chew | |
| Vice<br> President and Chief Financial Officer |
| 3 |
| --- |
Exhibit99.1
| FOR IMMEDIATE RELEASE | July 24, 2020 |
|---|---|
| Contact: Nelli Madden | |
| 732-577-9997 |
UMHPROPERTIES, INC. COMPLETES ACQUISITION OF PENNSYLVANIA COMMUNITY
FREEHOLD,NJ, July 24, 2020........ UMH Properties, Inc. (NYSE: UMH) announced that it closed on the acquisition of one community located in Pennsylvania for a total purchase price of approximately $3.34 million. This community contains 147 developed homesites, of which approximately 56% are occupied. It is situated on approximately 27 acres.
Samuel A. Landy, President and Chief Executive Officer, commented, “Camelot Woods is a value-add community located in Altoona, Pennsylvania. It is a high-quality community that was developed in the late 1990s and is in good condition. We own several properties near Altoona which exhibit strong rental demand. We intend to implement our rental program which will drive occupancy and NOI growth generating substantial value.
UMH continues to execute on our long-term business plan. Communities throughout our portfolio are reporting strong demand and improved occupancy. Our collection rates are in line with pre-pandemic levels. We are also making progress on the financing of a portfolio of some of our free and clear properties with low-cost mortgage debt. This reduced cost of capital should lead to increased earnings in the future.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 123 manufactured home communities with approximately 23,200 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Maryland and Michigan. In addition, the Company owns a portfolio of REIT securities.