UMH Properties (NYSE:UMH) Updates FY 2024 Earnings Guidance

UMH Properties (NYSE:UMH) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.920-0.940 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of -.

UMH Properties Price Performance

Shares of UMH stock traded up $0.39 during trading hours on Friday, hitting $19.34. 472,734 shares of the company’s stock were exchanged, compared to its average volume of 406,981. The stock’s 50-day moving average is $19.22 and its 200-day moving average is $17.60. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.77 and a quick ratio of 6.77. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 148.85, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. UMH Properties has a 52 week low of $13.91 and a 52 week high of $20.64.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.21). UMH Properties had a net margin of 11.81% and a return on equity of 6.49%. The firm had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. During the same period last year, the company earned $0.21 EPS. As a group, research analysts forecast that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.45%. The ex-dividend date is Friday, November 15th. UMH Properties’s dividend payout ratio (DPR) is presently 661.54%.

Wall Street Analyst Weigh In

UMH has been the topic of several research reports. Alliance Global Partners initiated coverage on UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 price target on the stock. StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday. B. Riley increased their target price on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Wedbush increased their target price on UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, UMH Properties has a consensus rating of “Hold” and a consensus target price of $21.25.

Insider Buying and Selling

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total value of $52,758.00. Following the completion of the transaction, the director now directly owns 412 shares in the company, valued at $8,050.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.63% of the stock is owned by corporate 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.