Anna Chew
EVP, CFO, Treasurer & Director at UMH Properties
Our preferred stock combined with an equity market capitalization of over $1,500,000,000 and our $6.00 $6,000,000 in debt results in a total market capitalization of approximately $2,500,000,000 at quarter end as compared to 2,100,000,000 last year, representing an increase of 18%. During the quarter, we issued and sold 515,000 shares of common stock under the twenty twenty four September common ATM program at a weighted average price of $18.21 per share, generating gross proceeds of $9,400,000 and net proceeds of $9,200,000 after offering expenses. The company also received $2,600,000 including dividends reinvested through the DRIP. During the quarter, we issued and sold 49,000 shares of Series D preferred stock under the 2023 preferred ATM program at a weighted average price of $23.3 per share, which generated gross and net proceeds after offering costs of $1,100,000 On 03/05/2025, the company terminated the use of the 2023 preferred ATM program and entered into the 2025 preferred ATM program, under which we may offer and sell shares of the company's Series D preferred stock having an aggregate sales price of up to $100,000,000 At the time of such termination, approximately $16,500,000 of Series D preferred stock remained unsold under the 2023 preferred ATM program.
