UMH PROPERTIES, INC. REACHES $1 BILLION EQUITY MARKET CAPITALIZATION
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.
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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.
Details
News Market Reaction – UMH
The recorded move for UMH in the trading session of this news was +0.89%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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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