UMH Properties (NYSE:UMH) Releases Quarterly Earnings Results

UMH Properties (NYSE:UMH) released its quarterly earnings results on Tuesday. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21), Zacks reports. UMH Properties had a return on equity of 3.24% and a net margin of 5.79%. The business had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. During the same period in the prior year, the business earned $0.21 EPS. UMH Properties updated its FY 2024 guidance to 0.910-0.950 EPS.

UMH Properties Price Performance

UMH traded up $0.05 on Thursday, hitting $19.05. 393,018 shares of the stock were exchanged, compared to its average volume of 386,978. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.59. UMH Properties has a 12 month low of $13.26 and a 12 month high of $19.61. The business has a 50-day moving average of $16.44 and a two-hundred day moving average of $15.81.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.215 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a yield of 4.51%. UMH Properties’s dividend payout ratio (DPR) is presently -573.30%.

Wall Street Analysts Forecast Growth

UMH has been the topic of several research reports. B. Riley reaffirmed a “buy” rating and issued a $18.50 price objective on shares of UMH Properties in a research report on Thursday, May 30th. William Blair reaffirmed a “neutral” rating on shares of UMH Properties in a research report on Monday, May 13th. Alliance Global Partners began coverage on shares of UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 target price for the company. Wedbush raised their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research note on Monday. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.25.

Insider Buying and Selling

In related news, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 1,149,565 shares in the company, valued at approximately $17,254,970.65. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Samuel A. Landy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total transaction of $375,250.00. Following 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael P. Landy bought 4,700 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was purchased at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at approximately $5,280,748.20. The disclosure for this purchase can be found here. 8.63% of the stock is currently owned by company 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.