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

UMH Properties, Inc. (NYSE:UMH) – Wedbush boosted their FY2024 earnings per share estimates for UMH Properties in a report released on Monday, January 13th. Wedbush analyst R. Anderson now forecasts 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 has a “Neutral” rating and a $20.00 price objective on the stock. The consensus estimate for UMH Properties’ current full-year earnings is $0.93 per share.

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

UMH Properties Stock Performance

Shares of UMH stock opened at $17.84 on Tuesday. The stock has a market capitalization of $1.41 billion, a PE ratio of 137.24, a PEG ratio of 3.47 and a beta of 1.29. The business’s 50 day simple moving average is $19.05 and its 200 day simple moving average is $18.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties has a one year low of $14.09 and a one year high of $20.64.

UMH Properties (NYSE:UMH) last released 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). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The company had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. During the same quarter last year, the firm posted $0.22 EPS.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.82%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s dividend payout ratio (DPR) is presently 661.54%.

Insider Buying and Selling at UMH Properties

In related news, CEO Samuel A. Landy sold 50,000 shares of the business’s 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. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,845 shares of company stock valued at $1,051,210. 8.63% of the stock is currently owned by company insiders.

Institutional Trading of UMH Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. increased its position in shares of UMH Properties by 1.0% during the second quarter. American Century Companies Inc. now owns 2,931,116 shares of the real estate investment trust’s stock worth $46,869,000 after acquiring an additional 29,320 shares in the last quarter. State Street Corp boosted its stake in UMH Properties by 44.5% during the 3rd quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock valued at $55,127,000 after purchasing an additional 863,089 shares during the last quarter. Copeland Capital Management LLC increased its holdings in UMH Properties by 0.3% during the 3rd quarter. Copeland Capital Management LLC now owns 2,761,116 shares of the real estate investment trust’s stock worth $54,311,000 after purchasing an additional 8,946 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of UMH Properties by 3.6% in the third quarter. Geode Capital Management LLC now owns 1,703,794 shares of the real estate investment trust’s stock worth $33,520,000 after purchasing an additional 59,705 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of UMH Properties by 2.4% in the second quarter. Dimensional Fund Advisors LP now owns 966,682 shares of the real estate investment trust’s stock valued at $15,456,000 after purchasing an additional 22,844 shares in the last quarter. 75.40% of the stock is 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.