Wedbush Brokers Lift Earnings Estimates for UMH Properties

UMH Properties, Inc. (NYSE:UMH) – Stock analysts at Wedbush lifted their FY2024 earnings estimates for UMH Properties in a note issued to investors on Monday, January 13th. Wedbush analyst R. Anderson now expects that the real estate investment trust will post earnings of $0.93 per share for the year, up from their prior forecast 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 research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

UMH Properties Stock Up 1.4 %

UMH stock opened at $17.84 on Tuesday. UMH Properties has a fifty-two week low of $14.09 and a fifty-two week high of $20.64. The stock has a fifty day moving average of $19.05 and a 200-day moving average of $18.78. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 137.24, a PEG ratio of 3.47 and a beta of 1.29. 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 (NYSE:UMH) last announced its quarterly earnings data 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 company posted $0.22 earnings per share.

Institutional Trading of UMH Properties

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

Insider Buying and Selling at UMH Properties

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

UMH Properties Announces Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, February 18th. This represents a $0.86 annualized dividend and a yield of 4.82%. UMH Properties’s dividend payout ratio is currently 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.