UMH Properties, Inc. (UMH) Expected to Announce Quarterly Sales of $27.36 Million
Analysts expect UMH Properties, Inc. (NYSE:UMH) to report sales of $27.36 million for the current quarter, Zacks reports. Two analysts have made estimates for UMH Properties’ earnings, with the highest sales estimate coming in at $28.96 million and the lowest estimate coming in at $25.75 million. UMH Properties posted sales of $25.36 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.9%. The business is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that UMH Properties will report full-year sales of $27.36 million for the current fiscal year, with estimates ranging from $101.60 million to $113.87 million. For the next financial year, analysts anticipate that the business will post sales of $118.75 million per share, with estimates ranging from $110.71 million to $126.79 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover UMH Properties.
A number of equities research analysts have recently commented on the company. BidaskClub raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Janney Montgomery Scott assumed coverage on UMH Properties in a research note on Friday. They issued a “buy” rating on the stock. DA Davidson assumed coverage on UMH Properties in a research note on Friday, September 1st. They issued a “buy” rating and a $18.00 target price on the stock. ValuEngine cut UMH Properties from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Sidoti increased their target price on UMH Properties from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, May 25th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $18.88.
In related news, Director James E. Mitchell bought 3,000 shares of the business’s stock in a transaction dated Friday, July 21st. The shares were purchased at an average cost of $25.00 per share, with a total value of $75,000.00. Following the completion of the purchase, the director now owns 3,000 shares in the company, valued at approximately $75,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders bought 3,759 shares of company stock worth $87,006. Insiders own 11.61% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in UMH. Creative Planning boosted its position in shares of UMH Properties by 227.1% during the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares during the last quarter. Bank of Montreal Can boosted its position in shares of UMH Properties by 787.4% during the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares during the last quarter. Aperio Group LLC boosted its position in shares of UMH Properties by 6.0% during the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of UMH Properties during the second quarter valued at $211,000. Finally, BlueCrest Capital Management Ltd purchased a new stake in shares of UMH Properties during the second quarter valued at $214,000. 53.99% of the stock is currently owned by institutional investors.
UMH Properties (NYSE UMH) opened at 16.12 on Friday. The stock’s market capitalization is $546.39 million. The firm’s 50-day moving average is $15.93 and its 200-day moving average is $15.97. UMH Properties has a 12-month low of $11.28 and a 12-month high of $17.90.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.47%. UMH Properties’s dividend payout ratio is currently -799.91%.
UMH Properties Company Profile
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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