UMH Properties (NYSE:UMH) Issues Earnings Results

UMH Properties (NYSE:UMH) posted its quarterly earnings data on Wednesday. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02, FiscalAI reports. The company had revenue of $71.64 million during the quarter, compared to analysts’ expectations of $60.76 million. UMH Properties had a net margin of 11.03% and a return on equity of 4.96%.

UMH Properties Stock Down 0.6%

NYSE UMH traded down $0.09 on Wednesday, hitting $15.23. 766,863 shares of the stock traded hands, compared to its average volume of 602,809. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average of $15.31 and a 200 day moving average of $15.36. UMH Properties has a twelve month low of $13.93 and a twelve month high of $16.98. The company has a market capitalization of $1.30 billion, a P/E ratio of 152.29 and a beta of 0.96.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.225 per share. The ex-dividend date is Monday, August 17th. This represents a $0.90 annualized dividend and a yield of 5.9%. UMH Properties’s dividend payout ratio is presently 900.00%.

Institutional Investors Weigh In On UMH Properties

Institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. raised 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 valued at $219,000 after acquiring an additional 827 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in UMH Properties by 2.7% in the fourth quarter. MetLife Investment Management LLC now owns 46,979 shares of the real estate investment trust’s stock worth $747,000 after purchasing an additional 1,213 shares during the period. Daiwa Securities Group Inc. boosted its holdings in UMH Properties by 4.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 30,562 shares of the real estate investment trust’s stock worth $486,000 after purchasing an additional 1,285 shares during the period. New York State Common Retirement Fund increased its stake in UMH Properties by 6.7% during the second quarter. New York State Common Retirement Fund now owns 22,214 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec increased its stake in UMH Properties by 28.7% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 6,416 shares of the real estate investment trust’s stock valued at $102,000 after purchasing an additional 1,430 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

UMH has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of UMH Properties in a report on Friday. Wall Street Zen upgraded UMH Properties from a “sell” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Odeon Capital Group set a $17.50 price target on shares of UMH Properties in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.25.

UMH Properties Company Profile

UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company’s business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.

The company generates revenue through rental lot fees, home sales and related community services.