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

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

UMH Properties Trading Up 2.1 %

Shares of NYSE UMH traded up $0.39 on Friday, reaching $19.34. 472,734 shares of the company traded hands, compared to its average volume of 406,981. UMH Properties has a fifty-two week low of $13.91 and a fifty-two week high of $20.64. The company has a 50 day moving average of $19.22 and a 200 day moving average of $17.60. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.52 billion, a PE ratio of 148.85, a P/E/G ratio of 3.38 and a beta of 1.30.

UMH Properties (NYSE:UMH) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share 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 analysts’ expectations of $59.84 million. UMH Properties had a return on equity of 6.49% and a net margin of 11.81%. During the same quarter in the prior year, the company earned $0.21 EPS. On average, equities research analysts forecast that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on UMH shares. StockNews.com cut UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday. Alliance Global Partners began 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. Wedbush increased their target price on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, B. Riley raised their price target on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, UMH Properties currently has an average rating of “Hold” and an average price target of $21.25.

Insider Activity at UMH Properties

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total value of $52,758.00. Following the transaction, the director now directly owns 412 shares of the company’s stock, valued at $8,050.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.63% of the stock is owned by company 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.