UMH Properties (NYSE:UMH) Price Target Increased to $20.00 by Analysts at Wedbush

UMH Properties (NYSE:UMH) had its price target increased by Wedbush from $17.00 to $20.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock. Wedbush also issued estimates for UMH Properties’ FY2024 earnings at $0.92 EPS and Q2 2025 earnings at $0.26 EPS.

Several other analysts have also recently issued reports on the company. Alliance Global Partners initiated coverage on UMH Properties in a research report on Thursday, July 18th. They set a buy rating and a $21.00 target price on the stock. B. Riley reaffirmed a buy rating and set a $18.50 target price on shares of UMH Properties in a research report on Thursday, May 30th. William Blair reiterated a neutral rating on shares of UMH Properties in a report on Monday, May 13th. Finally, StockNews.com lowered UMH Properties from a hold rating to a sell rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $20.25.

UMH Properties Stock Up 0.7 %

NYSE UMH traded up $0.13 during midday trading on Thursday, hitting $19.18. 411,388 shares of the company traded hands, compared to its average volume of 387,161. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.82 and a quick ratio of 6.82. The company has a market cap of $1.35 billion, a PE ratio of -127.86, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. The company’s 50-day simple moving average is $16.60 and its 200-day simple moving average is $15.86. UMH Properties has a 52 week low of $13.26 and a 52 week high of $19.61.

UMH Properties (NYSE:UMH) last announced its 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). The company had revenue of $60.33 million for the quarter, compared to the consensus estimate of $59.84 million. UMH Properties had a net margin of 5.79% and a return on equity of 3.24%. During the same period last year, the business posted $0.21 EPS. As a group, equities research analysts forecast that UMH Properties will post 0.91 earnings per share for the current year.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a yield of 4.48%. UMH Properties’s dividend payout ratio (DPR) is -573.30%.

Insider Buying and Selling

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

Hedge Funds Weigh In On UMH Properties

A number of institutional investors have recently modified their holdings of UMH. State of Alaska Department of Revenue raised its stake in shares of UMH Properties by 6.7% during the 4th quarter. State of Alaska Department of Revenue now owns 28,130 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 1,769 shares during the last quarter. Arizona State Retirement System raised its stake in shares of UMH Properties by 5.4% during the 4th quarter. Arizona State Retirement System now owns 17,334 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 894 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in shares of UMH Properties by 4.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 94,317 shares of the real estate investment trust’s stock valued at $1,468,000 after buying an additional 4,068 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of UMH Properties by 1,440.7% during the 4th quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 7,391 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of UMH Properties by 11.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,635 shares of the real estate investment trust’s stock valued at $408,000 after acquiring an additional 2,780 shares during the period. Hedge funds and other institutional investors own 75.40% 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.