Analysts expect UMH Properties, Inc. (NYSE:UMH) to report sales of $48.61 million for the current fiscal quarter, reports Zacks Investment Research. Two analysts made earnings estimates for UMH Properties. The lowest sales estimate is $47.41 million and the highest is $49.80 million. UMH Properties reported sales of $42.83 million in the same quarter last year, suggesting a positive year-over-year growth rate of 13.5%. The company is expected to release its next quarterly results after the market closes on Thursday, February 24.
According to Zacks, analysts expect UMH Properties to report annual revenue of $188.72 million for the current year, with estimates ranging from $187.53 million to $189.90 million. of dollars. For the next fiscal year, analysts expect the company to record sales of $195.67 million, with estimates ranging from $191.10 million to $200.24 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that track UMH Properties.
UMH Properties (NYSE:UMH) last reported quarterly earnings data on Wednesday, November 3. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing Zacks’ consensus estimate of $0.22 per ($0.29). UMH Properties had a net margin of 27.15% and a return on equity of 33.28%. In the same period a year earlier, the company earned earnings per share of $0.18.
A number of research analysts have weighed in on the company. Zacks Investment Research downgraded UMH Properties from a “hold” rating to a “sell” rating in a Friday, Jan. 7, report. TheStreet downgraded UMH Properties from a “b-” rating to a “c” rating in a report on Monday, November 29. Aegis raised its price target on UMH Properties from $27.00 to $30.00 and gave the stock a “buy” rating in a Thursday, Nov. 4, report. Finally, Colliers Securities assumed coverage for UMH Properties in a report released Wednesday. They set a “neutral” rating and a price target of $26.00 for the company. One investment analyst has assigned the stock a sell rating, one has assigned a hold rating and three have assigned the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.30.
Separately, director Steven B. Wolgin sold 2,000 shares of the company in a transaction that took place on Monday, November 15. The stock was sold at an average price of $22.92, for a total transaction of $45,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders hold 10.95% of the shares of the company.
A number of hedge funds have recently changed their stock holdings. Victory Capital Management Inc. increased its position in UMH Properties shares by 16.2% during the third quarter. Victory Capital Management Inc. now owns 161,129 shares of the real estate investment trust worth $3,690,000 after purchasing an additional 22,417 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in UMH Properties in the third quarter, valued at around $3,161,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in UMH Properties by 11.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 63,477 shares of the real estate investment trust valued at $1,454,000 after acquiring an additional 6,385 shares during the period. The Wisconsin State Board of Investment increased its stake in UMH Properties by 3.4% in the second quarter. The Wisconsin State Investment Board now owns 142,100 shares of the real estate investment trust worth $3,101,000 after acquiring an additional 4,700 shares during the period. Finally, Cubist Systematic Strategies LLC increased its stake in UMH Properties shares by 59.5% in the second quarter. Cubist Systematic Strategies LLC now owns 42,491 shares of the real estate investment trust worth $927,000 after purchasing an additional 15,851 shares during the period. 64.07% of the shares are currently held by institutional investors.
UMH stock opened at $23.90 on Thursday. The company has a quick ratio of 6.53, a current ratio of 6.53 and a debt ratio of 2.45. The company has a market capitalization of $1.17 billion, a PE ratio of 36.77 and a beta of 1.13. UMH Properties has a 12-month low of $14.59 and a 12-month high of $27.50. The stock has a 50-day simple moving average of $24.62 and a 200-day simple moving average of $23.86.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Tuesday, February 15 will receive a dividend of $0.20. The ex-date of this dividend is Monday, February 14. This represents an annualized dividend of $0.80 and a yield of 3.35%. This is an increase from UMH Properties’ previous quarterly dividend of $0.19. UMH Properties’ payout ratio is currently 116.92%.
Company Profile UMH Properties
UMH Properties, Inc operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities. The company also leases prefabricated house sites to private prefabricated house owners. It designs individual single-family prefabricated homes that are produced off-site by manufacturers and installed at sites within communities.
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