UMH PROPERTIES, INC. — Earnings Release 2020

Mar 5, 2020

8-K 1 form8-k.htm

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

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FORM 8-K

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CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 5, 2020

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UMH Properties, Inc.

(Exact name of registrant as specified in its charter)

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Maryland	001-12690	22-1890929
(State
or other jurisdiction of
incorporation)	(Commission File
Number)	(IRS
Employer Identification
No.)

| Juniper
Business Plaza, 3499 Route 9 North, Suite 3-C, Freehold, NJ | 07728 |
| --- | --- |
| (Address
of principal executive offices) | (Zip
Code) |

Registrant’s telephone number, including area code: (732) 577-9997

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14a- 12 under the Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

| Title
of each class | Trading
Symbol(s) | Name
of exchange on which registered |
| --- | --- | --- |
| Common
Stock, $.10 par value | UMH | New
York Stock Exchange |
| 8.0%
Series B Cumulative Redeemable Preferred Stock, $.10 par value | UMH
PRB | New
York Stock Exchange |
| 6.75%
Series C Cumulative Redeemable Preferred Stock, $.10 par value | UMH
PRC | New
York Stock Exchange |
| 6.375%
Series D Cumulative Redeemable Preferred Stock, $.10 par value | UMH
PRD | New
York Stock Exchange |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company [ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

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| Item
2.02 | Results of
Operations and Financial Condition. |
| --- | --- |
| Item
7.01 | Regulation
FD Disclosure. |

On March 5, 2020, UMH Properties, Inc. issued a press release announcing the results for the fourth quarter and year ended December 31, 2019 and disclosed a supplemental information package in connection with its earnings conference call for the fourth quarter and year ended December 31, 2019. 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 pursuant 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 Company’s current intentions and on the Company’s current expectations and assumptions. These statements, intentions, expectations and assumptions involve risks and uncertainties, some of which are beyond the Company’s control that could cause actual results or events to differ materially from those that the Company anticipates or projects, such as:

| ● | changes in the real estate market conditions
and general economic conditions; |
| --- | --- |
| ● | 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; |
| ● | increased competition in the geographic
areas in which we own and operate manufactured housing communities; |
| ● | 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; |
| ● | our ability to maintain rental rates
and occupancy levels; |
| ● | changes in market rates of interest; |
| ● | our ability to repay debt financing
obligations; |
| ● | our ability to refinance amounts outstanding
under our credit facilities at maturity on terms favorable to us; |
| ● | our ability to comply with certain debt
covenants; |
| ● | our ability to integrate acquired properties
and operations into existing operations; |
| ● | the availability of other debt and equity
financing alternatives; |
| ● | continued ability to access the debt
or equity markets; |
| ● | the loss of any member of our management
team; |
| ● | 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; |
| ● | the ability of manufactured home buyers
to obtain financing; |
| ● | the level of repossessions by manufactured
home lenders; |
| ● | market conditions affecting our investment
securities; |
| ● | changes in federal or state tax rules
or regulations that could have adverse tax consequences; and |
| ● | our ability to qualify as a real estate
investment trust for federal income tax purposes. |

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Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

99 Supplemental information package for the fourth quarter and year ended December 31, 2019 and press release dated March 5, 2020.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

UMH Properties, Inc . — By:	/s/ Anna T. Chew
Name: Title:	Anna
T. Chew Vice
President and Chief Financial Officer

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