UMH Properties (NYSE:UMH) Stock Rating Reaffirmed by Wedbush

Wedbush reiterated their neutral rating on shares of UMH Properties (NYSE:UMH) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a $17.00 target price on the real estate investment trust’s stock. Wedbush also issued estimates for UMH Properties’ Q1 2024 earnings at $0.21 EPS, Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.23 EPS, Q4 2024 earnings at $0.24 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.24 EPS, Q2 2025 earnings at $0.25 EPS, Q3 2025 earnings at $0.25 EPS, Q4 2025 earnings at $0.26 EPS and FY2025 earnings at $1.00 EPS.

Several other research analysts have also recently issued reports on the company. B. Riley assumed coverage on UMH Properties in a research note on Thursday, March 21st. They issued a buy rating and a $18.50 price objective on the stock. StockNews.com raised UMH Properties from a sell rating to a hold rating in a research report on Friday, March 1st. Finally, Compass Point lifted their price target on UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, UMH Properties currently has a consensus rating of Hold and an average price target of $19.00.

UMH Properties Trading Up 1.1 %

UMH opened at $15.84 on Monday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -105.59, a P/E/G ratio of 2.80 and a beta of 1.24. The stock’s 50 day moving average price is $15.28 and its 200-day moving average price is $14.79. UMH Properties has a one year low of $13.26 and a one year high of $16.85. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 15th were paid a $0.205 dividend. The ex-dividend date was Wednesday, February 14th. This represents a $0.82 annualized dividend and a dividend yield of 5.18%. UMH Properties’s dividend payout ratio is presently -546.63%.

Institutional Investors Weigh In On UMH Properties

Large investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its stake in UMH Properties by 382.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,711 shares in the last quarter. Federated Hermes Inc. lifted its holdings in UMH Properties by 54.9% in the third quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 856 shares during the last quarter. Spire Wealth Management lifted its holdings in UMH Properties by 177.8% in the third quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,125 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in UMH Properties in the first quarter valued at approximately $58,000. Finally, Quantbot Technologies LP raised its position in UMH Properties by 1,600.0% in the second quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 3,200 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

About UMH Properties

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.