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

UMH Properties (NYSE:UMH) issued an update on its FY 2024 earnings guidance on Wednesday morning. 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 Stock Performance

Shares of UMH traded up $0.09 during mid-day trading on Wednesday, hitting $18.77. 451,376 shares of the company traded hands, compared to its average volume of 406,559. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.77 and a current ratio of 6.77. The stock has a 50-day moving average price of $19.24 and a two-hundred day moving average price of $17.56. UMH Properties has a 1 year low of $13.91 and a 1 year high of $20.64. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -266.96, a P/E/G ratio of 3.31 and a beta of 1.30.

UMH Properties (NYSE:UMH) last released its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.21). UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. The company had revenue of $60.33 million for the quarter, compared to analysts’ expectations of $59.84 million. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities analysts anticipate that UMH Properties will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.215 per share. The ex-dividend date is Friday, November 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.58%. UMH Properties’s payout ratio is -1,228.40%.

Analyst Ratings Changes

Several analysts recently issued reports on UMH shares. Alliance Global Partners started 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 for the company. Wedbush boosted their target price on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. B. Riley boosted their target price on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Insider Buying and Selling

In related news, Director Kiernan Conway sold 2,700 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $19.54, for a total transaction of $52,758.00. Following the completion of the transaction, the director now owns 412 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 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.