Wedbush Estimates UMH Properties’ FY2024 Earnings (NYSE:UMH)

UMH Properties, Inc. (NYSE:UMH) – Wedbush raised their FY2024 earnings per share (EPS) estimates for UMH Properties in a research report issued to clients and investors on Monday, January 13th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings per share of $0.93 for the year, up from their previous estimate 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 UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.25.

UMH Properties Stock Up 0.4 %

Shares of UMH opened at $17.92 on Tuesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. UMH Properties has a 52 week low of $14.09 and a 52 week high of $20.64. The business’s fifty day moving average price is $19.05 and its two-hundred day moving average price is $18.78. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 137.86, a PEG ratio of 3.47 and a beta of 1.29.

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

Institutional Trading of UMH Properties

Large investors have recently bought and sold shares of the business. Maryland Capital Advisors Inc. bought a new stake in shares of UMH Properties in the 3rd quarter valued at $26,000. Loomis Sayles & Co. L P increased its stake in UMH Properties by 2,760.0% in the third 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 in the last quarter. US Bancorp DE raised its holdings in shares of UMH Properties by 261.1% during the third 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. grew its position in UMH Properties by 36.8% in 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 stake in UMH Properties by 904.5% during the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock valued at $75,000 after purchasing an additional 3,419 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the sale, the chief executive officer now owns 1,104,826 shares in the company, valued at approximately $21,599,348.30. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the transaction, the director now owns 7,993 shares of the company’s stock, valued at $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 53,845 shares of company stock worth $1,051,210 in the last 90 days. Insiders own 8.63% of the company’s stock.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s dividend payout ratio (DPR) is 661.54%.

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.