UMH UMH PROPERTIES, INC.
Price Chart
Executive Summary
UMH Properties filed an 8-K disclosing two new at-the-market (ATM) equity programs: (1) an amended Equity Distribution Agreement for up to $150M of common stock (with ~$44.6M remaining unsold), and (2) an amended and restated Sales Agreement for up to $100M of Series D Preferred Stock (with ~$97.5M remaining unsold). These are routine capital-raising facility updates that provide the company with ongoing access to equity capital for working capital, community expansion, and potential acquisitions.
Actionable Insight
These are routine ATM facility renewals/updates that provide UMH with ongoing equity capital access. The preferred stock ATM has a large remaining capacity (~$97.5M) that could be drawn down over time, creating potential overhang on UMH-PD. Monitor actual ATM usage in future filings — heavy utilization would signal increased dilution risk for common and preferred holders.
Key Facts
- UMH entered into Amendment No. 1 to its Equity Distribution Agreement, allowing up to $150M aggregate sales price of common stock (including prior sales), with ~$44.6M remaining unsold.
- UMH entered into an Amended and Restated At Market Issuance Sales Agreement for up to $100M aggregate sales price of 6.375% Series D Preferred Stock, with ~$97.5M remaining unsold.
- The Preferred Stock ATM program replaced a prior agreement with B. Riley Securities and adds Cantor Fitzgerald & Co. and Maxim Group LLC as sales agents.
- Proceeds from both programs are intended for working capital, manufactured home purchases, community expansion, potential acquisitions, and possible debt repayment.
- The Series D Preferred Stock has a maximum sale price of $25.00 per share plus accrued dividends.
- The common stock ATM program was updated to remove Janney Montgomery Scott LLC as a distribution agent.
Financial Impact
Up to $150M common stock ATM (with ~$44.6M remaining) and up to $100M Series D Preferred Stock ATM (with ~$97.5M remaining) — combined potential of up to $142.1M in additional equity capital.
Risk Factors
- Potential dilution to common and preferred shareholders if ATM programs are fully utilized.
- Preferred stock ATM overhang could pressure UMH-PD trading price below the $25.00 maximum sale price.
- Increased leverage if proceeds are used to repay debt rather than for growth.
Market Snapshot
Documents Analyzed
This report is based on 9 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001140361-26-020849 |
| Document: ny20072745x4_8k.htm | 0001140361-26-020849 |
| Document: ny20072745x4_ex1-1.htm | 0001140361-26-020849 |
| Document: ny20072745x4_ex8-1.htm | 0001140361-26-020849 |
| Document: ny20072745x4_ex5-2.htm | 0001140361-26-020849 |
| Document: ny20072745x4_ex5-1.htm | 0001140361-26-020849 |
| Document: 0001140361-26-020849-index-headers.html | 0001140361-26-020849 |
| Document: 0001140361-26-020849-index.html | 0001140361-26-020849 |
| Document: 0001140361-26-020849.txt | 0001140361-26-020849 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 29, 2026
15d ago
|
8-K
| $21.54 $22.03 | ▲ +2.27% | ▲ +2.57% | $15.28 (−29.06%) |
|
May 28, 2026
16d ago
|
8-K
| $21.66 $22.00 | ▲ +1.59% | ▲ +1.64% | $15.28 (−29.44%) |
|
May 15, 2026
28d ago
|
DEFA14A
| $21.48 $21.70 | ▲ +1.05% | ▼ −0.57% | $15.28 (−28.85%) |
|
May 12, 2026
4w ago
|
8-K
| $22.08 $21.50 | ▼ −2.63% | ▼ −1.47% | $15.28 (−30.80%) |
|
May 12, 2026
4w ago
|
424B5
| $22.08 $21.50 | ▼ −2.63% | ▼ −1.47% | $15.28 (−30.80%) |
|
May 11, 2026
4w ago
|
8-K
| $22.29 $21.48 | ▼ −3.63% | ▼ −3.55% | $15.28 (−31.43%) |
|
Apr 30, 2026
6w ago
|
Press Release
| $15.51 $15.59 | ▲ +0.51% | ▼ −1.84% | $15.28 (−1.46%) |
|
Apr 17, 2026
8w ago
|
DEFA14A
| $21.78 $21.82 | ▲ +0.19% | ▼ −0.37% | $15.28 (−29.84%) |
|
Apr 1, 2026
10w ago
|
Press Release
| $14.59 $15.65 | ▼ −7.27% | ▼ −3.65% | $15.28 (−4.73%) |
|
Apr 1, 2026
10w ago
|
Press Release
| $14.59 $15.65 | ▲ +7.27% | ▲ +3.65% | $15.28 (+4.73%) |
US Market Status
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