We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Freehold, NJ-based UMH Properties, Inc. (UMH - Free Report) announced the expansion and renewal of its existing unsecured revolving credit facility. This will add to the financial flexibility of this residential real estate investment trust (REIT).
United Mobile Home is primarily engaged in the ownership and operation of manufactured home communities - leasing manufactured home spaces on a month-to-month basis to private-manufactured home owners. This move has increased the available borrowings from $35 million to $50 million. Also, there is an accordion feature of $75 million, which raises the total availability to $125 million.
This facility is slated to mature on Mar 27, 2020, with the option of one year extension. This facility is syndicated with BMO Capital Markets (BMO). The interest rate for this facility has been set at LIBOR plus 1.75% to 2.50%. Otherwise, on the basis of overall leverage, it is set at prime lending rate of BMO plus 0.75% to 1.50%.
Shares of UMH Properties outperformed the Zacks categorized REIT and Equity Trust - Residential industry in the last three months. During this time, shares of the company increased 1.1%, whereas the industry declined 0.1%.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
UMH Properties Expands & Amends Revolving Credit Facility
Freehold, NJ-based UMH Properties, Inc. (UMH - Free Report) announced the expansion and renewal of its existing unsecured revolving credit facility. This will add to the financial flexibility of this residential real estate investment trust (REIT).
United Mobile Home is primarily engaged in the ownership and operation of manufactured home communities - leasing manufactured home spaces on a month-to-month basis to private-manufactured home owners. This move has increased the available borrowings from $35 million to $50 million. Also, there is an accordion feature of $75 million, which raises the total availability to $125 million.
This facility is slated to mature on Mar 27, 2020, with the option of one year extension. This facility is syndicated with BMO Capital Markets (BMO). The interest rate for this facility has been set at LIBOR plus 1.75% to 2.50%. Otherwise, on the basis of overall leverage, it is set at prime lending rate of BMO plus 0.75% to 1.50%.
Shares of UMH Properties outperformed the Zacks categorized REIT and Equity Trust - Residential industry in the last three months. During this time, shares of the company increased 1.1%, whereas the industry declined 0.1%.
Investors interested in the REIT space may consider stocks like Global Net Lease, Inc. (GNL - Free Report) , CoreSite Realty Corporation (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. . Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>