Wedbush Reaffirms Neutral Rating for UMH Properties (NYSE:UMH)

Wedbush reaffirmed their neutral rating on shares of UMH Properties (NYSE:UMH) in a research report report published on Monday morning, Marketbeat.com reports. Wedbush currently has a $17.00 price target 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.

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

UMH Properties Stock Performance

Shares of UMH opened at $15.84 on Monday. UMH Properties has a one year low of $13.26 and a one year high of $16.85. The company has a 50-day moving average of $15.28 and a two-hundred day moving average of $14.79. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -105.59, a PEG ratio of 2.80 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.52 and a quick ratio of 6.52.

UMH Properties Dividend Announcement

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

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UMH. SRS Capital Advisors Inc. grew its holdings in UMH Properties by 382.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,711 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of 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 worth $39,000 after acquiring an additional 856 shares during the last quarter. Spire Wealth Management grew its stake in shares of 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 worth $47,000 after acquiring an additional 2,125 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of UMH Properties in the first quarter worth $58,000. Finally, Quantbot Technologies LP grew its stake in shares of 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 worth $60,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

UMH Properties Company Profile

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.