UMH Properties, Inc. (NYSE:UMH) Expected to Post Quarterly Sales of $48.15 Million

Analysts forecast that UMH Properties, Inc. (NYSE:UMH) will announce sales of $48.15 million for the current quarter, according to Zacks. Three analysts have made estimates for UMH Properties’ earnings, with estimates ranging from $47.25 million to $49.80 million. UMH Properties posted sales of $42.83 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.4%. The company is expected to issue its next earnings report on Wednesday, March 9th.

According to Zacks, analysts expect that UMH Properties will report full-year sales of $187.71 million for the current fiscal year, with estimates ranging from $185.71 million to $189.90 million. For the next year, analysts forecast that the business will post sales of $198.88 million, with estimates ranging from $191.10 million to $205.31 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow UMH Properties.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Wednesday, November 3rd. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.29). UMH Properties had a net margin of 27.15% and a return on equity of 33.28%. During the same period last year, the company earned $0.18 earnings per share.

Several analysts recently issued reports on UMH shares. Zacks Investment Research downgraded UMH Properties from a “hold” rating to a “sell” rating in a report on Saturday, November 6th. Aegis boosted their price objective on shares of UMH Properties from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, November 4th. Finally, Wedbush assumed coverage on shares of UMH Properties in a report on Friday, August 27th. They issued an “outperform” rating and a $27.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, UMH Properties presently has an average rating of “Buy” and an average price target of $26.38.

In related news, Director Michael P. Landy sold 10,000 shares of the stock in a transaction dated Thursday, September 2nd. The shares were sold at an average price of $24.37, for a total transaction of $243,700.00. Following the sale, the director now owns 259,106 shares in the company, valued at $6,314,413.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven B. Wolgin sold 2,000 shares of the stock in a transaction dated Monday, November 15th. The stock was sold at an average price of $22.92, for a total transaction of $45,840.00. The disclosure for this sale can be found here. Insiders own 10.95% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Red Door Wealth Management LLC acquired a new stake in UMH Properties during the second quarter worth about $51,000. William Blair Investment Management LLC acquired a new stake in UMH Properties during the second quarter worth about $83,000. Advisory Services Network LLC acquired a new stake in UMH Properties during the second quarter worth about $83,000. Signaturefd LLC raised its stake in UMH Properties by 1,234.6% during the third quarter. Signaturefd LLC now owns 6,486 shares of the real estate investment trust’s stock worth $149,000 after acquiring an additional 6,000 shares during the period. Finally, National Asset Management Inc. acquired a new stake in UMH Properties during the third quarter worth about $201,000. Hedge funds and other institutional investors own 66.03% of the company’s stock.

NYSE UMH traded down $0.06 during trading hours on Friday, hitting $23.50. The company had a trading volume of 182,445 shares, compared to its average volume of 225,964. UMH Properties has a fifty-two week low of $14.20 and a fifty-two week high of $25.70. The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 36.15 and a beta of 1.11. The company has a debt-to-equity ratio of 2.45, a current ratio of 6.53 and a quick ratio of 6.53. The firm’s 50 day moving average is $23.62 and its 200 day moving average is $22.99.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Monday, November 15th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Friday, November 12th. This represents a $0.76 dividend on an annualized basis and a yield of 3.23%. UMH Properties’s dividend payout ratio is currently 116.92%.

About UMH Properties

UMH Properties, Inc operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities. The firm also leases manufactured home sites to private manufactured home owners. It designs accommodate detached, single-family manufactured homes which are produced off-site by manufacturers and installed on sites within the communities.

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