UMH Properties (NYSE:UMH) Issues Earnings Results

UMH Properties (NYSE:UMH) released its quarterly earnings data on Monday. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25, Zacks reports. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The company had revenue of $66.92 million for the quarter, compared to analyst estimates of $68.70 million.

UMH Properties Trading Down 0.6%

NYSE UMH traded down $0.10 on Tuesday, reaching $14.59. The company had a trading volume of 791,820 shares, compared to its average volume of 484,728. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 104.18, a P/E/G ratio of 2.49 and a beta of 1.05. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. UMH Properties has a fifty-two week low of $13.95 and a fifty-two week high of $20.42. The business has a 50 day moving average of $14.80 and a two-hundred day moving average of $16.12.

UMH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 annualized dividend and a dividend yield of 6.2%. UMH Properties’s payout ratio is currently 642.86%.

Insider Buying and Selling

In other UMH Properties news, Director Angela D. Pruitt sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $16.06, for a total transaction of $25,696.00. Following the completion of the transaction, the director owned 9,905 shares in the company, valued at approximately $159,074.30. This trade represents a 13.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Edward Mitchell sold 75,849 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the completion of the transaction, the director owned 41,368 shares in the company, valued at $675,125.76. This trade represents a 64.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 10,743 shares of company stock worth $155,097 and sold 175,249 shares worth $2,775,528. Company insiders own 8.77% of the company’s stock.

Institutional Trading of UMH Properties

Institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP acquired a new position in shares of UMH Properties in the 2nd quarter valued at about $52,000. BNP Paribas Financial Markets lifted its stake in UMH Properties by 127.5% in the second quarter. BNP Paribas Financial Markets now owns 9,182 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 5,146 shares during the period. Prudential Financial Inc. bought a new position in shares of UMH Properties during the 2nd quarter worth approximately $181,000. Osaic Holdings Inc. grew its position 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 worth $219,000 after buying an additional 827 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in shares of UMH Properties by 468.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,385 shares of the real estate investment trust’s stock valued at $242,000 after acquiring an additional 11,855 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on UMH shares. Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald started coverage on UMH Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $15.00 price target for the company. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, UMH Properties presently has a consensus rating of “Hold” and an average price target of $18.50.

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.