UMH Properties (NYSE:UMH) Issues 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 -.

Wall Street Analyst Weigh In

Several research firms have commented on UMH. 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 price objective on the stock. B. Riley increased their target price on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com downgraded UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Wedbush increased their price objective on UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.25.

UMH Properties Trading Up 2.1 %

UMH Properties stock traded up $0.39 during midday trading on Friday, reaching $19.34. 472,734 shares of the stock traded hands, compared to its average volume of 406,981. The company has a 50-day simple moving average of $19.22 and a two-hundred day simple moving average of $17.60. UMH Properties has a 12-month low of $13.91 and a 12-month high of $20.64. The firm has a market cap of $1.52 billion, a PE ratio of 148.85, a price-to-earnings-growth ratio of 3.38 and a beta of 1.30. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.49%. During the same quarter in the previous year, the business posted $0.21 EPS. Research analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

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

Insider Activity at UMH Properties

In other news, Director Kiernan Conway sold 2,700 shares of the company’s stock in a transaction 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 sale, the director now directly owns 412 shares in the company, valued at $8,050.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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.