UMH Properties, Inc. (NYSE:UMH - Free Report) - Investment analysts at Wedbush increased their Q3 2024 earnings estimates for shares of UMH Properties in a report released on Monday, May 13th. Wedbush analyst R. Anderson now expects that the real estate investment trust will earn $0.24 per share for the quarter, up from their prior forecast of $0.23. Wedbush has a "Neutral" rating and a $17.00 price objective on the stock. The consensus estimate for UMH Properties' current full-year earnings is $0.93 per share. Wedbush also issued estimates for UMH Properties' Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.26 EPS, Q4 2025 earnings at $0.27 EPS and FY2025 earnings at $1.03 EPS.
Several other equities research analysts have also issued reports on UMH. Compass Point lifted their price target on UMH Properties from $20.00 to $21.50 and gave the company a "buy" rating in a report on Thursday, March 21st. William Blair restated a "neutral" rating on shares of UMH Properties in a research note on Monday. B. Riley started coverage on shares of UMH Properties in a research note on Thursday, March 21st. They issued a "buy" rating and a $18.50 price objective for the company. Finally, StockNews.com downgraded shares of UMH Properties from a "hold" rating to a "sell" rating in a research report on Sunday, May 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, UMH Properties presently has an average rating of "Hold" and a consensus target price of $19.00.
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UMH Properties Stock Up 2.8 %
UMH traded up $0.44 during trading on Tuesday, reaching $15.93. 391,266 shares of the stock traded hands, compared to its average volume of 359,758. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.82 and a quick ratio of 6.82. UMH Properties has a fifty-two week low of $13.26 and a fifty-two week high of $16.85. The stock's 50-day simple moving average is $15.83 and its two-hundred day simple moving average is $15.19. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -106.19, a price-to-earnings-growth ratio of 2.89 and a beta of 1.24.
UMH Properties Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.215 per share. This is a positive change from UMH Properties's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 dividend on an annualized basis and a yield of 5.40%. UMH Properties's payout ratio is currently -546.63%.
Insider Buying and Selling at UMH Properties
In other UMH Properties news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares of the company's stock, valued at approximately $1,544,049.59. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 8.63% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James & Associates lifted its position in UMH Properties by 6.6% in the third quarter. Raymond James & Associates now owns 603,629 shares of the real estate investment trust's stock worth $8,463,000 after purchasing an additional 37,391 shares during the period. Bank of New York Mellon Corp increased its stake in UMH Properties by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 343,547 shares of the real estate investment trust's stock valued at $4,817,000 after acquiring an additional 1,896 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in UMH Properties by 29.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,017 shares of the real estate investment trust's stock worth $239,000 after purchasing an additional 3,896 shares in the last quarter. Advisor Partners II LLC acquired a new position in UMH Properties in the third quarter worth about $145,000. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in UMH Properties by 14.6% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 67,894 shares of the real estate investment trust's stock worth $952,000 after purchasing an additional 8,652 shares during the period. Institutional investors own 75.40% of the company's stock.
UMH Properties Company Profile
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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.
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