UMH Properties (NYSE:UMH) Updates FY 2024 Earnings Guidance

UMH Properties (NYSE:UMH) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.910-0.950 for the period, compared to the consensus estimate of 0.930. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on UMH shares. StockNews.com lowered shares of UMH Properties from a hold rating to a sell rating in a report on Monday. B. Riley reaffirmed a buy rating and set a $18.50 price target on shares of UMH Properties in a report on Thursday, May 30th. Alliance Global Partners assumed coverage on UMH Properties in a research report on Thursday, July 18th. They issued a buy rating and a $21.00 target price for the company. Wedbush reaffirmed a neutral rating and set a $17.00 price target on shares of UMH Properties in a report on Monday, May 13th. Finally, William Blair reissued a neutral rating on shares of UMH Properties in a report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $19.50.

UMH Properties Stock Performance

Shares of NYSE UMH traded up $0.85 during midday trading on Tuesday, hitting $18.97. 652,058 shares of the company’s stock traded hands, compared to its average volume of 385,632. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.82 and a current ratio of 6.82. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -126.47, a price-to-earnings-growth ratio of 3.36 and a beta of 1.29. The firm has a fifty day moving average of $16.35 and a 200 day moving average of $15.79. UMH Properties has a 1 year low of $13.26 and a 1 year high of $19.06.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties’s dividend payout ratio is presently -573.33%.

Insider Buying and Selling

In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at $17,254,970.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Michael P. Landy bought 4,700 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the purchase, the director now owns 341,796 shares in the company, valued at $5,280,748.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samuel A. Landy sold 25,000 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at approximately $17,254,970.65. The disclosure for this sale can be found here. 8.63% of the stock is owned by insiders.

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.