UMH Properties (NYSE:UMH) Announces Quarterly Earnings Results

Key Points

• UMH Properties exceeded quarterly expectations: The REIT reported earnings of $0.05 per share versus the $0.03 consensus estimate, while revenue reached $71.64 million compared with analyst expectations of $60.76 million.
• The company declared a quarterly dividend of $0.225 per share, equivalent to $0.90 annually and a 5.9% yield. The dividend is payable September 15 to shareholders of record on August 17.
• UMH shares declined 0.6% to $15.23 following the results. Analysts maintain a “Moderate Buy” consensus rating with a $17.25 average price target, while institutional investors own 75.4% of the stock.

UMH Properties (NYSE:UMH - Get Free Report) issued its quarterly earnings results on Wednesday. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.02, FiscalAI reports. UMH Properties had a return on equity of 4.96% and a net margin of 11.03%.The company had revenue of $71.64 million for the quarter, compared to analyst estimates of $60.76 million.

UMH Properties Trading Down 0.6%

Shares of NYSE:UMH traded down $0.09 during trading on Wednesday, reaching $15.23. 766,863 shares of the stock were exchanged, compared to its average volume of 602,809. The firm's 50-day moving average price is $15.31 and its 200 day moving average price is $15.36. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 152.29 and a beta of 0.96. UMH Properties has a 12-month low of $13.93 and a 12-month high of $16.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 6.97 and a current ratio of 6.97.

UMH Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.225 per share. The ex-dividend date is Monday, August 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.9%. UMH Properties's payout ratio is presently 900.00%.

Institutional Investors Weigh In On UMH Properties

Several large investors have recently made changes to their positions in the business. Osaic Holdings Inc. lifted its holdings in shares of UMH Properties by 6.8% during the 2nd quarter. Osaic Holdings Inc. now owns 13,062 shares of the real estate investment trust's stock valued at $219,000 after acquiring an additional 827 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of UMH Properties by 2.7% during the fourth quarter. MetLife Investment Management LLC now owns 46,979 shares of the real estate investment trust's stock worth $747,000 after purchasing an additional 1,213 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in shares of UMH Properties by 4.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 30,562 shares of the real estate investment trust's stock worth $486,000 after buying an additional 1,285 shares during the period. New York State Common Retirement Fund grew its stake in shares of UMH Properties by 6.7% in the second quarter. New York State Common Retirement Fund now owns 22,214 shares of the real estate investment trust's stock valued at $373,000 after buying an additional 1,400 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its stake in shares of UMH Properties by 28.7% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 6,416 shares of the real estate investment trust's stock valued at $102,000 after buying an additional 1,430 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on UMH. Weiss Ratings reiterated a "hold (c)" rating on shares of UMH Properties in a research note on Friday. Wall Street Zen raised shares of UMH Properties from a "sell" rating to a "hold" rating in a research note on Sunday, May 10th. Finally, Odeon Capital Group set a $17.50 target price on shares of UMH Properties in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, UMH Properties has a consensus rating of "Moderate Buy" and a consensus price target of $17.25.

About UMH Properties

UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company's business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.

The company generates revenue through rental lot fees, home sales and related community services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source