UMH Properties (NYSE:UMH) Given “Neutral” Rating at Wedbush

Wedbush reaffirmed their neutral rating on shares of UMH Properties (NYSE:UMH) in a report issued on Monday, Marketbeat reports. Wedbush currently has a $17.00 price objective on the real estate investment trust’s stock. Wedbush also issued estimates for UMH Properties’ Q1 2024 earnings at $0.21 EPS, Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.26 EPS and FY2025 earnings at $1.00 EPS.

Several other analysts have also recently commented on the stock. B. Riley assumed coverage on shares of UMH Properties in a report on Thursday, March 21st. They set a buy rating and a $18.50 price target for the company. Compass Point raised their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the company a buy rating in a research report on Thursday, March 21st. Finally, StockNews.com raised shares of UMH Properties from a sell rating to a hold rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $19.00.

UMH Properties Stock Performance

UMH stock opened at $16.24 on Monday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52. The stock has a market cap of $1.13 billion, a P/E ratio of -108.26, a P/E/G ratio of 2.81 and a beta of 1.24. The firm has a 50 day simple moving average of $15.31 and a 200 day simple moving average of $14.80. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85.

UMH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 15th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Wednesday, February 14th. UMH Properties’s dividend payout ratio is -546.63%.

Hedge Funds Weigh In On UMH Properties

Institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. increased its position in UMH Properties by 6.1% during the third quarter. D.A. Davidson & CO. now owns 657,676 shares of the real estate investment trust’s stock worth $9,221,000 after acquiring an additional 37,909 shares during the period. Invesco Ltd. raised its stake in UMH Properties by 21.4% during the 3rd quarter. Invesco Ltd. now owns 625,464 shares of the real estate investment trust’s stock valued at $8,769,000 after purchasing an additional 110,276 shares during the last quarter. American Century Companies Inc. raised its stake in UMH Properties by 29.5% during the 3rd quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock valued at $35,501,000 after purchasing an additional 576,304 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in UMH Properties by 6.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 742,848 shares of the real estate investment trust’s stock valued at $10,415,000 after purchasing an additional 46,291 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in UMH Properties by 609.8% during the 3rd quarter. Private Management Group Inc. now owns 1,036,353 shares of the real estate investment trust’s stock valued at $14,530,000 after purchasing an additional 890,355 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

About UMH Properties

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.