Wall Street analysts predict that UMH Properties, Inc. (NYSE:UMH) will report $49.52 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for UMH Properties' earnings, with estimates ranging from $49.04 million to $50.10 million. UMH Properties posted sales of $43.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.8%. The company is expected to announce its next earnings report after the market closes on Wednesday, November 3rd.
On average, analysts expect that UMH Properties will report full-year sales of $189.03 million for the current year, with estimates ranging from $185.71 million to $192.30 million. For the next financial year, analysts forecast that the company will post sales of $206.50 million, with estimates ranging from $202.58 million to $211.60 million. Zacks Investment Research's sales calculations are a mean average based on a survey of research firms that that provide coverage for UMH Properties.
UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, August 4th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.22 by ($0.04). UMH Properties had a net margin of 24.55% and a return on equity of 37.04%.
A number of brokerages have recently issued reports on UMH. Zacks Investment Research raised shares of UMH Properties from a "sell" rating to a "hold" rating in a research report on Tuesday. Wedbush began coverage on UMH Properties in a research note on Friday, August 27th. They issued an "outperform" rating and a $27.50 price target for the company. Finally, Aegis boosted their price target on UMH Properties from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Thursday, August 5th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $25.63.
Shares of UMH Properties stock opened at $23.19 on Thursday. The firm has a 50-day moving average of $23.58 and a 200-day moving average of $22.30. The stock has a market cap of $1.10 billion, a PE ratio of 56.56 and a beta of 1.13. UMH Properties has a 52-week low of $13.11 and a 52-week high of $25.70. The company has a debt-to-equity ratio of 2.79, a quick ratio of 6.48 and a current ratio of 6.48.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Monday, November 15th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Friday, November 12th. UMH Properties's dividend payout ratio (DPR) is presently 108.57%.
In other UMH Properties news, Director Steven B. Wolgin sold 2,557 shares of the business's stock in a transaction dated Wednesday, August 18th. The stock was sold at an average price of $22.93, for a total transaction of $58,632.01. Following the completion of the transaction, the director now owns 32,784 shares of the company's stock, valued at $751,737.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael P. Landy sold 10,000 shares of the business's stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $24.37, for a total value of $243,700.00. Following the sale, the director now owns 259,106 shares in the company, valued at $6,314,413.22. The disclosure for this sale can be found here. 10.95% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in UMH. FMR LLC grew its holdings in shares of UMH Properties by 197.8% during the first quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust's stock worth $21,962,000 after purchasing an additional 1,035,919 shares during the last quarter. Swiss National Bank grew its holdings in shares of UMH Properties by 2.1% during the first quarter. Swiss National Bank now owns 85,800 shares of the real estate investment trust's stock worth $1,645,000 after purchasing an additional 1,800 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of UMH Properties by 12.1% during the first quarter. BNP Paribas Arbitrage SA now owns 7,825 shares of the real estate investment trust's stock worth $150,000 after purchasing an additional 844 shares during the last quarter. BlackRock Inc. grew its holdings in shares of UMH Properties by 2.3% during the first quarter. BlackRock Inc. now owns 2,981,562 shares of the real estate investment trust's stock worth $57,158,000 after purchasing an additional 67,840 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of UMH Properties during the first quarter worth about $192,000. Institutional investors own 66.28% of the company's stock.
UMH Properties Company Profile
UMH Properties, Inc operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities. The firm also leases manufactured home sites to private manufactured home owners. It designs accommodate detached, single-family manufactured homes which are produced off-site by manufacturers and installed on sites within the communities.
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