Wedbush Estimates UMH Properties' FY2024 Earnings (NYSE:UMH)

UMH Properties, Inc. (NYSE:UMH - Free Report) - Wedbush raised their FY2024 earnings estimates for shares of UMH Properties in a research report issued to clients and investors on Monday, January 13th. Wedbush analyst R. Anderson now forecasts that the real estate investment trust will earn $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 objective on the stock. The consensus estimate for UMH Properties' current full-year earnings is $0.93 per share.

UMH Properties (NYSE:UMH - Get Free Report) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). The firm had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same quarter in the prior year, the business earned $0.22 earnings per share.

Separately, StockNews.com raised 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $21.25.

UMH Properties Stock Up 0.4 %

Shares of NYSE UMH traded up $0.08 during mid-day trading on Tuesday, reaching $17.92. 222,677 shares of the company's stock traded hands, compared to its average volume of 313,772. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The business has a 50-day simple moving average of $19.05 and a 200 day simple moving average of $18.78. The stock has a market cap of $1.41 billion, a P/E ratio of 137.86, a PEG 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.

Hedge Funds Weigh In On UMH Properties

Several institutional investors have recently bought and sold shares of UMH. Maryland Capital Advisors Inc. bought a new stake in shares of UMH Properties in the third quarter valued at approximately $26,000. Loomis Sayles & Co. L P raised its holdings in UMH Properties by 2,760.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust's stock valued at $48,000 after acquiring an additional 2,346 shares during the period. US Bancorp DE lifted its position in shares of UMH Properties by 261.1% during the third quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust's stock worth $49,000 after acquiring an additional 1,791 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of UMH Properties by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 698 shares during the period. Finally, Quarry LP grew its position in shares of UMH Properties by 904.5% in the third quarter. Quarry LP now owns 3,797 shares of the real estate investment trust's stock valued at $75,000 after purchasing an additional 3,419 shares in 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 related news, Director Angela D. Pruitt sold 2,800 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the completion of the sale, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Samuel A. Landy sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 13th. The shares were 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 owns 1,104,826 shares in the company, 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. In the last 90 days, insiders sold 53,845 shares of company stock worth $1,051,210. Insiders own 8.63% of the company's stock.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date is Tuesday, February 18th. UMH Properties's payout ratio is 661.54%.

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.