B. Riley Analysts Boost Earnings Estimates for UMH Properties, Inc. (NYSE:UMH)

UMH Properties, Inc. (NYSE:UMH – Get Rating) – Research analysts at B. Riley increased their Q3 2022 earnings per share (EPS) estimates for UMH Properties in a report issued on Monday, May 9th. B. Riley analyst C. Kucera now anticipates that the real estate investment trust will post earnings of $0.26 per share for the quarter, up from their prior forecast of $0.25. B. Riley has a “Buy” rating and a $26.00 price objective on the stock.

UMH Properties (NYSE:UMH – Get Rating) last posted its earnings results on Wednesday, May 4th. The real estate investment trust reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.30). UMH Properties had a return on equity of 16.45% and a net margin of 21.44%. During the same quarter in the previous year, the firm earned $0.20 earnings per share.

UMH has been the subject of several other reports. Colliers Securities initiated coverage on shares of UMH Properties in a research report on Wednesday, January 19th. They issued a “neutral” rating and a $26.00 target price for the company. Zacks Investment Research downgraded shares of UMH Properties from a “buy” rating to a “hold” rating in a research note on Tuesday. Maxim Group reissued a “buy” rating and issued a $28.00 price target on shares of UMH Properties in a research report on Friday, May 6th. Finally, StockNews.com began coverage on UMH Properties in a research note on Thursday, March 31st. They issued a “sell” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, UMH Properties currently has a consensus rating of “Hold” and an average target price of $26.92.

NYSE:UMH opened at $19.56 on Wednesday. The company has a 50-day moving average price of $23.92 and a 200-day moving average price of $24.05. UMH Properties has a 12 month low of $19.44 and a 12 month high of $27.50. The company has a current ratio of 16.65, a quick ratio of 8.00 and a debt-to-equity ratio of 2.00. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 102.95, a P/E/G ratio of 4.40 and a beta of 1.14.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.80 annualized dividend and a yield of 4.09%. UMH Properties’s dividend payout ratio is 421.07%.

In other UMH Properties news, Director Steven B. Wolgin sold 2,750 shares of the company’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $24.40, for a total transaction of $67,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven B. Wolgin sold 4,285 shares of UMH Properties stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $23.09, for a total transaction of $98,940.65. The disclosure for this sale can be found here. In the last three months, insiders acquired 1,132 shares of company stock valued at $26,767 and sold 8,710 shares valued at $206,663. 9.23% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in UMH. Whittier Trust Co. purchased a new position in shares of UMH Properties in the 1st quarter worth $37,000. National Asset Management Inc. purchased a new position in shares of UMH Properties in the third quarter worth approximately $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of UMH Properties by 97.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,509 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 3,703 shares during the last quarter. Palisade Capital Management LLC NJ purchased a new stake in UMH Properties during the fourth quarter valued at approximately $205,000. Finally, Citigroup Inc. raised its position in UMH Properties by 209.2% in the third quarter. Citigroup Inc. now owns 8,988 shares of the real estate investment trust’s stock worth $206,000 after acquiring an additional 6,081 shares during the period. Institutional investors and hedge funds own 69.02% of the company’s stock.

UMH Properties Company Profile (Get Rating)

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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