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

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

UMH Properties Price Performance

NYSE UMH traded up $0.03 during mid-day trading on Wednesday, hitting $19.00. The stock had a trading volume of 582,909 shares, compared to its average volume of 386,940. The firm’s 50 day moving average is $16.44 and its 200 day moving average is $15.81. 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 stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -126.67, a PEG ratio of 3.36 and a beta of 1.29. UMH Properties has a twelve month low of $13.26 and a twelve month high of $19.61.

UMH Properties (NYSE:UMH) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). The firm had revenue of $60.33 million for the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a net margin of 3.42% and a return on equity of 1.92%. During the same period in the previous year, the firm posted $0.21 EPS. Equities research analysts forecast that UMH Properties will post 0.91 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

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 dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties’s payout ratio is -573.33%.

Analysts Set New Price Targets

A number of equities analysts recently commented on UMH shares. StockNews.com downgraded shares of UMH Properties from a hold rating to a sell rating in a research note on Monday. B. Riley reiterated a buy rating and issued a $18.50 price objective on shares of UMH Properties in a research note on Thursday, May 30th. Alliance Global Partners began coverage on shares of UMH Properties in a research report on Thursday, July 18th. They set a buy rating and a $21.00 target price on the stock. William Blair reiterated a neutral rating on shares of UMH Properties in a research report on Monday, May 13th. Finally, Wedbush restated a neutral rating and issued a $17.00 price objective on shares of UMH Properties in a research note on Monday, May 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, UMH Properties presently has a consensus rating of Hold and an average price target of $19.50.

Insider Buying and Selling at UMH Properties

In related news, Director Michael P. Landy purchased 4,700 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was bought at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction that occurred on 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 directly owns 1,149,565 shares of the company’s stock, valued at approximately $17,254,970.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael P. Landy purchased 4,700 shares of UMH Properties stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the purchase, the director now 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 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.