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): March 10, 2020
UMHProperties, Inc.
(Exact name of registrant as specified in its charter)
| Maryland | 001-12690 | 22-1890929 |
|---|---|---|
| (State<br> or other jurisdiction<br><br> of incorporation) | (Commission<br><br> File Number) | (IRS<br> Employer<br><br> Identification No.) |
| Juniper Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ | 07728 | |
| --- | --- | |
| (Address<br> of principal executive offices) | (Zip<br> Code) |
Registrant’stelephone 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. [ ]
Item7.01 Regulation FD Disclosure.
On March 10, 2020, the Company issued a press release commenting on recent economic developments.
Item9.01 Financial Statements and Exhibits.
(d) Exhibits.
| 99 | Press Release dated March 10, 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> March 11, 2020 | By: | /s/ Anna T. Chew |
| Name: | Anna<br> T. Chew | |
| Vice<br> President and Chief Financial Officer |
| 3 |
| --- |
Exhibit 99.1
UMHPROPERTIES, INC.
JuniperBusiness Plaza
3499Route 9 North, Suite 3-C
Freehold,NJ 07728
(732)577-9997
Fax:(732) 577-9980
| FOR IMMEDIATE RELEASE | March 10, 2020 | |
|---|---|---|
| Contact: | Nelli Madden | |
| 732-577-9997 |
UMHPROPERTIES, INC. COMMENTS ON RECENT ECONOMIC DEVELOPMENTS
FREEHOLD,NJ, March 10, 2020........ UMH Properties, Inc. (NYSE: UMH), a real estate investment trust (REIT) specializing in manufactured home communities, is pleased to announce that our basic business continues to perform well. We are experiencing strong demand and rising rental rates at our locations.
Samuel A. Landy, President and Chief Executive Officer, commented, “We anticipate that occupancy and rents will not be impacted by the recent decline in oil and gas prices. Our view of the energy industry in Pennsylvania and Ohio was expressed in our 10-K and earnings release and continue to be our current position.”
“Our manufactured home communities are situated on 6,600 acres of valuable land. This includes 3,400 acres in the energy-rich Marcellus and Utica Shale regions. As anticipated, the vast oil and natural gas reserves in these areas have become substantial economic catalysts that are creating significant prosperity and growth. We believe we are still in the early stages of this energy bonanza and as a result, we look forward to very strong demand for decades to come. The American Petroleum Institute projects employment increases in Ohio and Pennsylvania of 138,000 jobs per year through 2035. If this is actually achieved, it will be a game changer for these states.”
“The recent decline in UMH share price is not related to any fundamentals that we are aware of. Our cost of capital has gone down substantially and is a favorable recent development.”
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 122 manufactured home communities with approximately 23,100 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.
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A NYSE Company: Symbol - UMH
since 1968