FY2024 EPS Estimates for UMH Properties Increased by Wedbush

UMH Properties, Inc. (NYSE:UMH) – Analysts at Wedbush lifted their FY2024 EPS estimates for UMH Properties in a research note issued to investors on Monday, January 13th. Wedbush analyst R. Anderson now anticipates that the real estate investment trust will post earnings per share of $0.93 for the year, up from their previous forecast of $0.92. Wedbush currently has a “Neutral” rating and a $20.00 price target on the stock. The consensus estimate for UMH Properties’ current full-year earnings is $0.93 per share.

Separately, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $21.25.

UMH Properties Price Performance

Shares of UMH opened at $17.87 on Tuesday. The company has a market capitalization of $1.41 billion, a P/E ratio of 137.47, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a 50 day moving average of $19.03 and a 200 day moving average of $18.79. UMH Properties has a twelve month low of $14.09 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $60.67 million for the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. During the same period last year, the business earned $0.22 EPS.

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, February 18th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.81%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s dividend payout ratio is currently 661.54%.

Insider Buying and Selling

In other news, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now owns 1,104,826 shares in the company, valued at $21,599,348.30. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the sale, the director now owns 7,993 shares in the company, valued at $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,845 shares of company stock worth $1,051,210. 8.63% of the stock is owned by insiders.

Institutional Trading of UMH Properties

Several institutional investors and hedge funds have recently modified their holdings of UMH. Maryland Capital Advisors Inc. bought a new stake in shares of UMH Properties during the 3rd quarter valued at $26,000. Loomis Sayles & Co. L P raised its position in shares of UMH Properties by 2,760.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,346 shares during the period. US Bancorp DE raised its position in shares of UMH Properties by 261.1% during the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,791 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of UMH Properties by 36.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 698 shares during the period. Finally, Quarry LP increased its holdings in UMH Properties by 904.5% in the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 3,419 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

UMH Properties Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.