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

UMH Properties (NYSE:UMH) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.910-0.950 for the period, compared to the consensus earnings per share estimate of 0.930. The company issued revenue guidance of -.

UMH Properties Stock Up 0.2 %

Shares of UMH stock traded up $0.03 during trading hours on Wednesday, reaching $19.00. 582,909 shares of the company’s stock were exchanged, compared to its average volume of 386,940. The stock’s 50 day moving average is $16.44 and its 200-day moving average is $15.81. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -126.67, a P/E/G ratio of 3.36 and a beta of 1.29. 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 fifty-two week low of $13.26 and a fifty-two week high of $19.61.

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 analysts’ consensus estimates of $0.22 by ($0.21). The business had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. UMH Properties had a return on equity of 1.92% and a net margin of 3.42%. During the same period in the previous year, the company posted $0.21 earnings per share. Analysts predict that UMH Properties will post 0.91 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.53%. The ex-dividend date is Thursday, August 15th. UMH Properties’s payout ratio is -573.33%.

Analysts Set New Price Targets

Several equities research analysts have commented on UMH shares. B. Riley reaffirmed a buy rating and issued a $18.50 price target on shares of UMH Properties in a report on Thursday, May 30th. Alliance Global Partners started coverage on shares of UMH Properties in a report on Thursday, July 18th. They issued a buy rating and a $21.00 price target on the stock. Wedbush reaffirmed a neutral rating and issued a $17.00 price target on shares of UMH Properties in a report on Monday, May 13th. StockNews.com lowered shares of UMH Properties from a hold rating to a sell rating in a research note on Monday. Finally, William Blair reissued a neutral rating on shares of UMH Properties in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $19.50.

Insider Transactions at UMH Properties

In related news, Director Michael P. Landy purchased 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were purchased at an average cost of $15.45 per share, with a total value of $72,615.00. Following the purchase, the director now owns 341,796 shares of the company’s stock, valued at approximately $5,280,748.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares in the company, valued at approximately $17,254,970.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Landy acquired 4,700 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was acquired at an average price of $15.45 per share, with a total value of $72,615.00. Following the acquisition, the director now owns 341,796 shares in the company, valued at approximately $5,280,748.20. The disclosure for this purchase can be found here. Corporate insiders own 8.63% of the company’s stock.

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.