UMH Properties’ (UMH) “Neutral” Rating Reiterated at Wedbush

Wedbush reaffirmed their neutral rating on shares of UMH Properties (NYSE:UMH) in a report published on Monday,Benzinga reports. Wedbush currently has a $20.00 price target on the real estate investment trust’s stock. Wedbush also issued estimates for UMH Properties’ FY2024 earnings at $0.93 EPS.

Separately, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.25.

UMH Properties Stock Performance

UMH Properties stock opened at $17.87 on Monday. UMH Properties has a 12-month low of $14.09 and a 12-month high of $20.64. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $19.03 and its two-hundred day moving average price is $18.79. The stock has a market cap of $1.41 billion, a PE ratio of 137.47, a P/E/G ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, February 18th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s dividend payout ratio is currently 661.54%.

Insider Buying and Selling

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the transaction, the director now directly owns 7,993 shares of the company’s stock, valued at approximately $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total value of $977,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,104,826 shares in the company, valued at approximately $21,599,348.30. This trade represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,845 shares of company stock valued at $1,051,210 over the last ninety days. 8.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of UMH Properties by 1.0% during the second quarter. American Century Companies Inc. now owns 2,931,116 shares of the real estate investment trust’s stock valued at $46,869,000 after acquiring an additional 29,320 shares in the last quarter. State Street Corp grew its holdings in UMH Properties by 44.5% during the third quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock worth $55,127,000 after buying an additional 863,089 shares in the last quarter. Copeland Capital Management LLC grew its holdings in UMH Properties by 0.3% during the third quarter. Copeland Capital Management LLC now owns 2,761,116 shares of the real estate investment trust’s stock worth $54,311,000 after buying an additional 8,946 shares in the last quarter. Geode Capital Management LLC grew its holdings in UMH Properties by 3.6% during the third quarter. Geode Capital Management LLC now owns 1,703,794 shares of the real estate investment trust’s stock worth $33,520,000 after buying an additional 59,705 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in UMH Properties by 2.4% during the second quarter. Dimensional Fund Advisors LP now owns 966,682 shares of the real estate investment trust’s stock worth $15,456,000 after buying an additional 22,844 shares in the last quarter. 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.