UMH Properties (NYSE:UMH) Issues Quarterly Earnings Results

UMH Properties (NYSE:UMH) issued its quarterly earnings results on Monday. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25, Zacks reports. The business had revenue of $66.92 million during the quarter, compared to the consensus estimate of $68.70 million. UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.

UMH Properties Trading Down 0.6%

UMH Properties stock opened at $14.59 on Wednesday. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08. UMH Properties has a 52 week low of $13.95 and a 52 week high of $20.42. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 104.18, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The stock has a 50-day moving average price of $14.78 and a 200 day moving average price of $16.10.

UMH Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.2%. UMH Properties’s payout ratio is 1,125.00%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of UMH Properties in a report on Wednesday, October 8th. Finally, Cantor Fitzgerald assumed coverage on UMH Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $15.00 price target for the company. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, UMH Properties has a consensus rating of “Hold” and an average price target of $18.50.

Insider Buying and Selling

In related news, CEO Samuel A. Landy sold 45,700 shares of UMH Properties stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $16.40, for a total transaction of $749,480.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,283 shares in the company, valued at approximately $18,061,041.20. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Landy purchased 10,000 shares of UMH Properties stock in a transaction that occurred on Monday, September 29th. The shares were bought at an average price of $14.46 per share, with a total value of $144,600.00. Following the completion of the transaction, the director owned 362,052 shares of the company’s stock, valued at $5,235,271.92. This represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have purchased 10,743 shares of company stock valued at $155,097 and have sold 175,249 shares valued at $2,775,528. 8.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of UMH. Alliancebernstein L.P. raised its position in UMH Properties by 18.1% during the second quarter. Alliancebernstein L.P. now owns 1,058,160 shares of the real estate investment trust’s stock valued at $17,767,000 after acquiring an additional 161,977 shares in the last quarter. Bank of America Corp DE raised its position in UMH Properties by 8.3% during the second quarter. Bank of America Corp DE now owns 1,189,252 shares of the real estate investment trust’s stock valued at $19,968,000 after acquiring an additional 91,202 shares in the last quarter. Jane Street Group LLC purchased a new position in UMH Properties during the second quarter valued at approximately $775,000. First Trust Advisors LP increased its position in shares of UMH Properties by 31.6% in the second quarter. First Trust Advisors LP now owns 99,133 shares of the real estate investment trust’s stock valued at $1,664,000 after buying an additional 23,817 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of UMH Properties by 12.8% in the second quarter. Invesco Ltd. now owns 203,827 shares of the real estate investment trust’s stock valued at $3,422,000 after buying an additional 23,108 shares in the last quarter. 75.40% of the stock is currently owned by hedge funds and other 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.