UMH Properties, Inc. (NYSE:UMH) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition. |
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| Item 7.01 | Regulation FD Disclosure. |
On May 9, 2017, UMH Properties, Inc. issued a press release
announcing the results for the first quarter ended March 31, 2017
and disclosed a supplemental information package in connection
with its earnings conference call for the first quarter ended
March 31, 2017. A copy of the supplemental information package
and press release is furnished with this report as Exhibit 99,
and is incorporated herein by reference.
The information in this report and the exhibit attached hereto is
being furnished, not filed, for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, and to Item 2.02 and
Item 7.01 of Form 8-K will not be incorporated by reference into
any filing under the Securities Act of 1933, as amended, unless
specifically identified therein as being incorporated therein by
reference.
Forward-Looking Statements
Statements contained in this report, including the document that
is incorporated by reference, that are not historical facts are
forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933, as amended (the Securities Act), and
Section 21E of the Securities Exchange Act of 1934, as amended
and the Private Securities Litigation Reform Act of 1995 (the
Exchange Act). All statements, other than statements of
historical facts that address activities, events or developments
where the Company uses any of the words anticipates, assumes,
believes, estimates, expects, intends, or similar expressions,
are forward-looking statements. These forward-looking statements
are not guaranteed and are based on the Companys current
intentions and on the Companys current expectations and
assumptions. These statements, intentions, expectations and
assumptions involve risks and uncertainties, some of which are
beyond the Companys control that could cause actual results or
events to differ materially from those that the Company
anticipates or projects, such as:
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changes in the real estate market conditions and general economic conditions; |
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the inherent risks associated with owning real estate, including local real estate market conditions, governing laws and regulations affecting manufactured housing communities and illiquidity of real estate investments; |
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increased competition in the geographic areas in which we own and operate manufactured housing communities; |
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our ability to continue to identify, negotiate and acquire manufactured housing communities and/or vacant land which may be developed into manufactured housing communities on terms favorable to us; |
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| our ability to maintain rental rates and occupancy levels; | ||
| changes in market rates of interest; | ||
| our ability to repay debt financing obligations; | ||
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our ability to refinance amounts outstanding under our credit facilities at maturity on terms favorable to us; |
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| our ability to comply with certain debt covenants; | ||
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our ability to integrate acquired properties and operations into existing operations; |
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the availability of other debt and equity financing alternatives; |
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| continued ability to access the debt or equity markets; | ||
| the loss of any member of our management team; | ||
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our ability to maintain internal controls and processes to ensure all transactions are accounted for properly, all relevant disclosures and filings are timely made in accordance with all rules and regulations, and any potential fraud or embezzlement is thwarted or detected; |
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| the ability of manufactured home buyers to obtain financing; | ||
| the level of repossessions by manufactured home lenders; | ||
| market conditions affecting our investment securities; | ||
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changes in federal or state tax rules or regulations that could have adverse tax consequences; and |
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our ability to qualify as a real estate investment trust for federal income tax purposes. |
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
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Supplemental information package for the first quarter ended March 31, 2017 and press release dated May 9, 2017. |
About UMH Properties, Inc. (NYSE:UMH)
UMH Properties, Inc. operates as a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. It also leases homes to residents, and through its REIT subsidiary, UMH Sales and Finance, Inc. (S&F), the Company sells and finances the sale of manufactured homes in its communities. The Company owns and operates approximately 100 manufactured home communities containing over 17,800 developed sites. The communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. Its focus is on real estate investments. The Company invests in rental homes and owns approximately 3,700 rental homes. It engages in the rental of manufactured homes primarily in areas where the communities have existing vacancies. The Company also has approximately 1,300 additional sites in various stages of engineering/construction. UMH Properties, Inc. (NYSE:UMH) Recent Trading Information
UMH Properties, Inc. (NYSE:UMH) closed its last trading session up +0.08 at 16.36 with 127,876 shares trading hands.
