UMH PROPERTIES, INC. TO RING THE NYSE OPENING BELL WITH THE FEDERAL NATIONAL MORTGAGE ASSOCIATION AND WELLS FARGO BANK
UMH Properties, Inc. (NYSE:UMH) will ring the NYSE Opening Bell on August 25, 2020, celebrating the closing of a new credit facility with Fannie Mae and Wells Fargo.
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Rhea-AI Summary
UMH Properties, Inc. (NYSE:UMH) will ring the NYSE Opening Bell on August 25, 2020, celebrating the closing of a new credit facility with Fannie Mae and Wells Fargo. This initiative aligns with the company's mission to provide quality affordable housing through its 123 manufactured home communities. Samuel A. Landy, President and CEO, emphasized the collaboration with these financial institutions as a commitment to enhancing affordable housing access.
Positive
- New credit facility with Fannie Mae and Wells Fargo enhances liquidity and supports future growth.
- UMH operates 123 manufactured home communities, providing a steady revenue base and expansion opportunities.
Negative
- None.
Details
News Market Reaction – UMH
The recorded move for UMH in the trading session of this news was +0.50%.
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FREEHOLD, NJ, Aug. 24, 2020 (GLOBE NEWSWIRE) -- UMH Properties, Inc. (NYSE:UMH) announced today that it will ring the New York Stock Exchange (NYSE) Opening Bell on Tuesday, August 25, 2020, in celebration of the closing of our innovative credit facility which will further our mission of providing quality affordable housing.
Samuel A. Landy, President and Chief Executive Officer commented, "Our recent credit facility with Fannie Mae and Wells Fargo underscores our collective effort in providing quality affordable housing through manufactured home communities. We are honored to commemorate this commitment with Fannie Mae and Wells Fargo Bank by ringing the Opening Bell at the New York Stock Exchange.”
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.
Contact: Nelli Madden
732-577-9997
UMH PROPERTIES, INC.
Juniper Business Plaza
3499 Route 9 North, Suite 3-C
Freehold, NJ 07728
(732) 577-9997
Fax: (732) 577-9980
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