UMH Properties (NYSE:UMH) Issues Quarterly Earnings Results, Misses Estimates By $0.21 EPS

UMH Properties (NYSE:UMH) announced its quarterly earnings data on Tuesday. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21), Zacks reports. 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 3.42% and a return on equity of 1.92%. During the same quarter in the previous year, the business earned $0.21 EPS. UMH Properties updated its FY 2024 guidance to 0.910-0.950 EPS.

UMH Properties Price Performance

Shares of UMH stock traded up $0.03 during mid-day trading on Wednesday, hitting $19.00. 329,654 shares of the stock were exchanged, compared to its average volume of 385,002. UMH Properties has a 52-week low of $13.26 and a 52-week high of $19.61. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.59. The company has a market cap of $1.34 billion, a PE ratio of -126.47, a price-to-earnings-growth ratio of 3.36 and a beta of 1.29. The firm has a fifty day moving average of $16.35 and a 200 day moving average of $15.79.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.215 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.53%. UMH Properties’s dividend payout ratio (DPR) is currently -573.33%.

Insider Activity at UMH Properties

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

Wall Street Analyst Weigh In

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

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.