FY2024 EPS Estimates for UMH Properties Increased by Wedbush

UMH Properties, Inc. (NYSE:UMH) – Equities research analysts at Wedbush boosted their FY2024 EPS estimates for shares of 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 of $0.93 per share for the year, up from their prior estimate of $0.92. Wedbush 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.

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

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

UMH Properties Stock Performance

UMH Properties stock opened at $17.87 on Tuesday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average of $19.03 and a 200-day moving average of $18.79. The firm has a market cap of $1.41 billion, a P/E ratio of 137.47, a P/E/G ratio of 3.47 and a beta of 1.29. UMH Properties has a 1-year low of $14.09 and a 1-year high of $20.64.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.215 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.81%. UMH Properties’s dividend payout ratio is currently 661.54%.

Insider Buying and Selling

In related news, Director Angela D. Pruitt sold 2,800 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Samuel A. Landy sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,845 shares of company stock valued at $1,051,210 over the last three months. Corporate insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On UMH Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Diversified Trust Co increased its stake in shares of UMH Properties by 12.6% during the fourth quarter. Diversified Trust Co now owns 17,436 shares of the real estate investment trust’s stock valued at $329,000 after purchasing an additional 1,957 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of UMH Properties by 20.0% during the third quarter. JPMorgan Chase & Co. now owns 410,856 shares of the real estate investment trust’s stock valued at $8,082,000 after purchasing an additional 68,580 shares in the last quarter. Principal Financial Group Inc. bought a new position in shares of UMH Properties during the third quarter valued at approximately $675,000. Franklin Resources Inc. bought a new position in shares of UMH Properties during the third quarter valued at approximately $4,421,000. Finally, Tidal Investments LLC bought a new position in shares of UMH Properties during the third quarter valued at approximately $495,000. Institutional investors own 75.40% of the company’s stock.

About UMH Properties

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.