UMH Properties, Inc. (NYSE:UMH – Get Rating) – Stock analysts at Wedbush lowered their Q2 2023 earnings per share (EPS) estimates for shares of UMH Properties in a research note issued to investors on Thursday, May 11th. Wedbush analyst J. Mccanless now forecasts that the real estate investment trust will post earnings per share of $0.18 for the quarter, down from their previous estimate of $0.21. The consensus estimate for UMH Properties’ current full-year earnings is $0.85 per share. Wedbush also issued estimates for UMH Properties’ Q3 2023 earnings at $0.22 EPS, Q4 2023 earnings at $0.20 EPS and FY2023 earnings at $0.80 EPS.
UMH has been the topic of several other reports. EF Hutton Acquisition Co. I reiterated a “buy” rating and set a $21.00 price target on shares of UMH Properties in a research report on Wednesday, March 1st. TheStreet upgraded UMH Properties from a “d+” rating to a “c” rating in a research report on Tuesday, February 28th. Finally, StockNews.com cut UMH Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.75.
UMH Properties Stock Down 0.9 %
UMH Properties Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.17%. The ex-dividend date of this dividend is Friday, May 12th. UMH Properties’s payout ratio is -122.39%.
Insider Buying and Selling
In related news, Director Michael P. Landy bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were acquired at an average cost of $14.80 per share, for a total transaction of $29,600.00. Following the acquisition, the director now directly owns 270,594 shares of the company’s stock, valued at approximately $4,004,791.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other UMH Properties news, Director Michael P. Landy bought 2,000 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was acquired at an average price of $14.80 per share, with a total value of $29,600.00. Following the completion of the transaction, the director now directly owns 270,594 shares in the company, valued at approximately $4,004,791.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Daniel O. Landy bought 1,900 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was acquired at an average cost of $17.42 per share, with a total value of $33,098.00. Following the transaction, the executive vice president now owns 24,670 shares of the company’s stock, valued at $429,751.40. The disclosure for this purchase can be found here. Insiders have purchased 4,811 shares of company stock worth $78,529 in the last three months. 9.09% of the stock is currently owned by insiders.
Institutional Trading of UMH Properties
Several hedge funds and other institutional investors have recently modified their holdings of the business. American International Group Inc. boosted its position in shares of UMH Properties by 2.4% in the fourth quarter. American International Group Inc. now owns 24,071 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 558 shares during the period. Arizona State Retirement System boosted its position in shares of UMH Properties by 4.5% in the third quarter. Arizona State Retirement System now owns 14,004 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 609 shares during the period. Rhumbline Advisers boosted its position in UMH Properties by 1.3% during the first quarter. Rhumbline Advisers now owns 53,796 shares of the real estate investment trust’s stock valued at $1,323,000 after purchasing an additional 702 shares during the last quarter. Signaturefd LLC boosted its position in UMH Properties by 11.1% during the fourth quarter. Signaturefd LLC now owns 7,150 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 715 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in UMH Properties by 1.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 59,242 shares of the real estate investment trust’s stock valued at $876,000 after purchasing an additional 841 shares during the last quarter. Institutional investors and hedge funds own 71.25% of the company’s stock.
About UMH Properties
UMH Properties, Inc operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities in seven states throughout the northeast. These states include New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. Manufactured home communities provide long-term appreciation, recession resistant qualities, and stable income streams.
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