UMH PROPERTIES/SH SH (NYSE:UMH) released its earnings results on Thursday. The real estate investment trust reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.28), Fidelity Earnings reports. UMH PROPERTIES/SH SH had a negative net margin of 8.17% and a negative return on equity of 5.62%. The firm had revenue of $33.45 million during the quarter, compared to analyst estimates of $32.20 million.
NYSE:UMH traded down $1.04 during mid-day trading on Friday, hitting $13.20. The company’s stock had a trading volume of 16,616 shares, compared to its average volume of 157,607. UMH PROPERTIES/SH SH has a 1 year low of $11.38 and a 1 year high of $16.69. The company has a debt-to-equity ratio of 2.22, a quick ratio of 5.21 and a current ratio of 5.21. The firm has a market cap of $543.96 million, a price-to-earnings ratio of 18.55, a PEG ratio of 1.96 and a beta of 0.37.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.45%. The ex-dividend date is Wednesday, November 14th. UMH PROPERTIES/SH SH’s payout ratio is 101.41%.
Several equities analysts recently issued reports on the company. ValuEngine raised UMH PROPERTIES/SH SH from a “hold” rating to a “buy” rating in a research report on Monday. Zacks Investment Research lowered shares of UMH PROPERTIES/SH SH from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Boenning Scattergood started coverage on shares of UMH PROPERTIES/SH SH in a report on Monday, September 17th. They issued an “outperform” rating and a $19.50 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.17.
In other UMH PROPERTIES/SH SH news, insider Umh Properties, Inc. purchased 9,396 shares of the stock in a transaction on Monday, September 17th. The shares were bought at an average cost of $16.39 per share, with a total value of $154,000.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Eugene W. Landy sold 8,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $15.75, for a total transaction of $126,000.00. Following the completion of the sale, the chairman now directly owns 622,292 shares in the company, valued at $9,801,099. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 9,532 shares of company stock worth $156,004. 10.89% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in UMH PROPERTIES/SH SH stock. Bank of New York Mellon Corp raised its holdings in UMH PROPERTIES/SH SH (NYSE:UMH) by 8.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 256,518 shares of the real estate investment trust’s stock after purchasing an additional 20,482 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of UMH PROPERTIES/SH SH worth $3,938,000 at the end of the most recent reporting period. 53.51% of the stock is owned by hedge funds and other institutional investors.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 114 manufactured home communities containing approximately 20,600 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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