Insider Buying: Home Properties Director Buys 1,580 Shares of Stock (HME)
Home Properties (NYSE:HME) Director Thomas P. Lydon, Jr. purchased 1,580 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The stock was purchased at an average cost of $63.56 per share, with a total value of $100,424.80. Following the completion of the purchase, the director now directly owns 6,057 shares in the company, valued at approximately $384,983. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Shares of Home Properties (NYSE:HME) opened at 63.88 on Wednesday. Home Properties has a 1-year low of $52.16 and a 1-year high of $66.74. The stock’s 50-day moving average is $64.53 and its 200-day moving average is $61.64. The company has a market cap of $3.663 billion and a price-to-earnings ratio of 24.47.
Home Properties (NYSE:HME) last released its earnings data on Thursday, July 31st. The company reported $1.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.11. The company had revenue of $168.40 million for the quarter, compared to the consensus estimate of $168.52 million. During the same quarter in the previous year, the company posted $1.11 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that Home Properties will post $4.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.73 per share. This represents a $2.92 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Monday, August 11th.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Home Properties in a research note on Thursday, August 7th. They now have a $65.00 price target on the stock, up previously from $63.00. Separately, analysts at ISI Group cut their price target on shares of Home Properties from $66.00 to $1.00 in a research note on Friday, August 1st. Finally, analysts at Barclays raised their price target on shares of Home Properties from $62.00 to $64.00 in a research note on Monday, July 21st. They now have an “equal weight” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.27.
Home Properties, Inc (NYSE:HME) is a self-administered and self-managed real estate investment trust (REIT).
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