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 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 -.

Analyst Ratings Changes

Several brokerages have recently issued reports on UMH. B. Riley lifted their price objective on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com downgraded shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday. Alliance Global Partners started coverage on shares of UMH Properties in a research report on Thursday, July 18th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Wedbush lifted 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, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.25.

UMH Properties Stock Performance

Shares of UMH stock traded up $0.39 during mid-day trading on Friday, hitting $19.34. The stock had a trading volume of 472,734 shares, compared to its average volume of 406,981. The firm has a market cap of $1.52 billion, a PE ratio of 148.85, a PEG ratio of 3.38 and a beta of 1.30. The company’s 50-day simple moving average is $19.22 and its 200-day simple 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. UMH Properties has a fifty-two week low of $13.91 and a fifty-two week high of $20.64.

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

UMH Properties Dividend Announcement

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

Insiders Place Their Bets

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

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.