Preferred Stock OfferingsBy Preferred Stock Channel Staff, updated Sat, May 21, 8:32 AM
|This Slide: #214 of 581|
Slide #214. UMH Properties, Inc. — Preferred Stock Offering
UMH Properties, Inc. (NYSE:UMH)
Date of Pricing:
Price Per Share:
Preferred Stock Offering Details:
UMH Properties, Inc. (NYSE: UMH) today announced the launch of an underwritten public offering of 4,000,000 shares of the Company's Series C Cumulative Redeemable Preferred Stock, under an existing shelf registration statement. The underwriters are expected to be granted a 30-day over-allotment option to purchase up to an additional 600,000 shares of the Company's Series C Preferred Stock. The Company will apply to list the shares of Series C Preferred Stock on the New York Stock Exchange. -updated 7/20- UMH Properties, Inc. (NYSE: UMH) today announced the pricing of an underwritten public offering of 5,000,000 shares of its 6.75% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock") at an offering price of $25.00 per share. In addition, the Company has granted the underwriters a 30-day over-allotment option to purchase up to an additional 750,000 shares of Series C Preferred Stock. The Series C Preferred Stock is a new series of Preferred Stock which will rank on a parity with the Company's outstanding 8.25% Series A Preferred Stock (the "Series A Preferred Stock") and 8.0% Series B Preferred Stock (the "Series B Preferred Stock"). The Company has applied to list the shares of Series C Preferred Stock on the New York Stock Exchange. The Series C Preferred Stock will have a $25.00 liquidation value per share.
UMH Properties is a real estate investment trust. Co.'s primary business is the ownership and operation of manufactured home communities, which includes leasing manufactured homesites to private manufactured home owners. Co. also leases homes to residents, and through its wholly-owned taxable REIT subsidiary, UMH Sales and Finance, Inc., conducts manufactured home sales in its communities. Co. owns and operates manufactured home communities located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. A manufactured home community is designed to accommodate detached, single-family manufactured homes.
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Strong Buy (4.00 out of 4)
(ranked higher than approx. 73% of all stocks covered)
Based on data provided by Zacks Investment Research via Quandl.com