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

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. 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 report on Thursday, August 8th. B. Riley upped their price objective on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Alliance Global Partners initiated coverage on UMH Properties in a research report on Thursday, July 18th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, StockNews.com lowered shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, UMH Properties presently has an average rating of “Hold” and a consensus price target of $21.25.

UMH Properties Stock Performance

Shares of NYSE:UMH traded up $0.39 on Friday, hitting $19.34. The company had a trading volume of 472,734 shares, compared to its average volume of 406,981. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 148.85, a P/E/G ratio of 3.38 and a beta of 1.30. The stock has a 50 day moving average price of $19.22 and a 200 day moving average price of $17.60. UMH Properties has a 1-year low of $13.91 and a 1-year high of $20.64. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The company had revenue of $60.33 million during the quarter, compared to analyst estimates of $59.84 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.49%. During the same quarter last year, the company posted $0.21 EPS. Analysts expect that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

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

Insider Activity at UMH Properties

In related news, Director Kiernan Conway sold 2,700 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.54, for a total transaction of $52,758.00. Following the transaction, the director now directly owns 412 shares of the company’s stock, valued at approximately $8,050.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.63% of the stock is currently 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.