UMH Properties Stock (NYSE:UMH), Trade Ideas

UMH Properties

UMH Properties Inc together with its subsidiaries is a real estate investment trust. It is engaged in the business of ownership and operation of manufactured home communities - leasing manufactured homesites to residents . The Company also leases manufactured homes to residents and, through its wholly-owned taxable REIT subsidiary, UMH Sales and Finance, Inc. sells and finances the sale of manufactured homes to residents and prospective residents of its communities and for placement on customers' privately-owned land. The company also owns the land, utility connections, streets, lighting, driveways, common area amenities, and other capital improvements. It earns income from lease agreements for their sites and homes, where the company is the lessor.

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REIT

Real Estate

3 Manufactured Homes REITs With Yields Up to 5.6% and Track Records of Dividend Growth

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iShares FTSE NAREIT Residential PLUS Capped Index Fund

Rental prices surged in Feb due to high mortgage rates, benefitting residential real estate stocks but causing inflation concerns for Fed

Rising Rents Complicates Fed&#39;s Disinflation Goal, Offers Tailwind To Residential REIT Stocks

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3 Manufactured Homes REITs With Yields Up to 5.2%

UMH Properties Inc

Umatrin Holding Ltd

UMH Properties, Inc. 6.375% Series D Cumulative Redeemable Preferred Stock, Liquidation Preference $25 per share

Manufactured homes real estate investment trusts (REITs) specialize in owning and operating <a href="https://www.benzinga.com/go/real-estate-screener">income-generating properties</a> related to manufactured homes. Manufactured homes are prefabricated houses that are built off-site and then transported to their final location. These REITs may own communities or parks where manufactured homes are situated, and they generate income through leasing or renting the land to individuals who own the manufactured homes.
Investors in manufactured homes REITs can benefit from the income generated by the leasing of land for these homes. If this interests you, here are three manufactured home REITs you could buy today.
<h2 class="wp-block-heading">Sun Communities</h2>
Sun Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUI#NYSE">SUI</a>) owns, operates, or has an interest in 667 developed manufactured home, RV, and marina properties. These properties contain 179,310 developed sites and 48,030 wet slips and dry storage spaces in the U.S., the U.K., and Canada.
Sun Communities currently pays a quarterly distribution of $0.94 per share, equating to an annualized distribution of $3.76 per share, which gives it a yield of about 3.2% at the time of this writing. The company has also raised its annual distribution each of the last seven years and its 1.1% hike in February has it on track for 2024 to mark the 8th consecutive year with an increase.
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</ul>
<h2 class="wp-block-heading">Equity LifeStyle Properties</h2>
Equity LifeStyle Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELS#NYSE">ELS</a>) owns and operates 451 manufactured home communities, RV resorts, and campgrounds containing 172,465 sites in North America as of its most recent investor presentation.
Equity LifeStyle currently pays a quarterly dividend of $0.4775 per share, equating to an annualized dividend of $1.91 per share, which gives its stock a yield of about 3.1% at the time of this writing. The company has raised its annual dividend for an eye-popping 19 consecutive years and its 6.7% hike in January has it on track for 2024 to mark the 20th consecutive year with an increase.
<h2 class="wp-block-heading">Trending</h2>
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<h2 class="wp-block-heading">UMH Properties</h2>
UMH Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites across 11 U.S. states. It also has an ownership interest in an additional two communities in Florida containing 363 sites through a joint venture with Nuveen Real Estate.
UMH currently pays a quarterly dividend of $0.215 per share, equating to an annualized dividend $0.86 per share, which gives its stock a yield of about 5.6% at the time of this writing. It has also raised its annual dividend each of the last three years and its 4.9% increase earlier this month has it on track for 2024 to mark the fourth consecutive year with an increase.
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<li>Whole Foods&#8217; Landlord Has Achieved A 15% Net IRR For Accredited Investors Since 2015 — <a href="https://www.benzinga.com/go/whole-foods-landlord">Discover The Latest Investment Opportunities On Its Platform</a>.</li>
</ul>
Image Credit: Shutterstock

News

UMH Properties Expands Existing Unsecured Revolving Credit Agreement From $180M In Available Borrowings To $260M

On April 1, 2024, UMH Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) (TASE:UMH) announced today that its Board of Directors approved a 4.9% increase in the Company's quarterly common stock dividend, raising it to $0.215 per share from $0.205 per share. The dividend is payable June 17, 2024, to shareholders of record at the close of business on May 15, 2024. This represents an annual dividend rate of $0.86 per share. &nbsp;
Samuel A. Landy, President and Chief Executive Officer, commented, "We are pleased to announce a fourth consecutive annual increase of our common stock dividend. In 2023, we experienced three consecutive quarters of normalized FFO per share growth. Manufactured homes for sale or rent remain highly desirable housing for households earning $40,000 per year and more. Our supply and inventory issues are behind us and we anticipate future occupancy, revenue and earnings growth."

Dividends

UMH Properties, Inc. Announces Dividend Increase From $0.205 To $0.215 Per Share

Wedbush analyst Richard Anderson assumes UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) with a Neutral rating and announces Price Target of $17.

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Initiation

Analyst Ratings

Wedbush Assumes UMH Properties at Neutral, Announces Price Target of $17

Compass Point analyst Merrill Ross maintains UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) with a Buy and raises the price target from $20 to $21.5.

Compass Point Maintains Buy on UMH Properties, Raises Price Target to $21.5

B. Riley Securities analyst John Massocca reinstates UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) with a Buy and maintains $18.5 price target.

B. Riley Securities Reinstates Buy on UMH Properties, Maintains $18.5 Price Target

The recent uptick in rental prices presents a mixed bag for investors, buoying the outlook for residential real estate stocks while simultaneously stirring inflationary concerns that could complicate efforts to achieve the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37593207/february-inflation-will-guide-feds-policy-course-return-to-2-target-faces-challenge">Federal Reserve&#8217;s 2% inflation target. </a>
What Happened: The median U.S. asking rent saw a 2.2% increase year over year in February, reaching $1,981, marking the most significant gain since January 2023, with a month-on-month increase of 0.9%, as revealed by <a href="https://www.redfin.com/news/redfin-rental-report-february-2024/">Redfin</a>. This rise is partly attributed to the &#8220;base effect,&#8221; given that rents were at their lowest in February 2023, leading to an amplified annual rate increase.
The rental price surge is predominantly driven by the Northwest and Midwest regions. In the Northeast, the median asking rent escalated by 5.2% year over year to $2,481 in February, the most substantial increase in nine months. The Midwest witnessed a similar trend, with rents climbing 4.9% to $1,441, marking the most significant rise in five months. Contrastingly, in the South and West, rent adjustments were minimal, with a 0.3% increase to $1,635 and a slight 0.1% decrease to $2,349, respectively.
Why It Matters: The uptick in mortgage rates observed in February dampened the spirits of potential homebuyers who had recently seen a beacon of hope as rates began to decrease. 
&#8220;Mortgage rates ticked back up in February — a disappointing development for prospective homebuyers, who just a few months ago got a glimmer of hope as rates finally started to fall," noted Daryl Fairweather, Redfin&#8217;s chief economist. The persistently high rates have led many to opt for renting over buying, thus bolstering rental demand and subsequently, rental prices.
Shelter costs — which include owners' equivalent rent (OER), rent of primary residence (Rent) and smaller contributions from lodging away from home, tenants' and household insurance, and the rental equivalence for vacation homes and timeshares — carry a significant weight, comprising 36% of the Consumer Price Index (CPI) basket. This hefty component underscores the direct influence of housing costs on the broader inflationary landscape.
The Federal Reserve has made substantial headway in reducing inflation over the past 18 months. However, the last stretch towards achieving the 2% target warrants caution, especially given the current dynamics in the housing market.
While the Fed has made significant progress in lowering over the past 18 months, caution for the last mile reaching the 2% is warranted. 
Stock reactions: Reflecting the rising rent conditions within the residential real estate sector, the iShares Residential and Multisector Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REZ#NYSE">REZ</a>) experienced a 4.5% growth over the past month. Notable performers in this industry include UMH Properties, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>), which saw an 11% increase, Independence Realty Trust, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRT#NYSE">IRT</a>), with a 9% uptick, and Camden Property Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>), rising by 7% over the same period.
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Photo: Shutterstock

Rising Rents Complicates Fed's Disinflation Goal, Offers Tailwind To Residential REIT Stocks

UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) reported quarterly earnings of $0.23 per share which beat the analyst consensus estimate of $0.22 by 4.55 percent. The company reported quarterly sales of $56.98 million which beat the analyst consensus estimate of $55.79 million by 2.14 percent. This is a 16.90 percent increase over sales of $48.75 million the same period last year.

Earnings

Earnings Beats

UMH Properties Q4 2023 FFO $0.23 Beats $0.22 Estimate, Sales $56.98M Beat $55.79M Estimate

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Earnings Scheduled For February 28, 2024

Manufactured homes real estate investment trusts (REITs) specialize in owning and operating <a href="https://www.benzinga.com/alternative-investments/real-estate?investorType=All&amp;minimumInvestment%5B%5D=0,250000&amp;sortBy=Recommended">income-generating properties</a> related to manufactured homes. Manufactured homes are prefabricated houses that are built off-site and then transported to their final location. These REITs may own communities or parks where manufactured homes are situated, and they generate income through leasing or renting the land to individuals who own the manufactured homes.
Investors in manufactured homes REITs can benefit from the income generated by the leasing of land for these homes. If this interests you, here are three manufactured home REITs you could buy today.
<h2 class="wp-block-heading">Sun Communities</h2>
Sun Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SUI#NYSE">SUI</a>) owns, operates, or has an interest in 670 developed manufactured home, RV, and marina properties as of September 30, 2023. These properties consist of over 180,000 developed sites and over 48,000 wet slips and dry storage spaces in the U.S., U.K., and Canada.
Sun Communities currently pays a quarterly distribution of $0.93 per share, equating to $3.72 per share annually, giving it a yield of about 2.8% today. It has also raised its annual distribution each of the last seven years, making it qualify as a quality dividend-growth play.
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<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Equity LifeStyle Properties</h2>
Equity LifeStyle Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELS#NYSE">ELS</a>) owns and operates 450 manufactured home communities, RV resorts, and campgrounds consisting of over 171,000 sites in North America as of October 16, 2023.
Equity LifeStyle currently pays a quarterly dividend of $0.4475 per share, equating to $1.79 per share annually, giving it a yield of about 2.6% today. It has raised its annual dividend for an eye-popping 19 consecutive years, putting it just six short years away from qualifying as a Dividend Aristocrat.
<h2 class="wp-block-heading">UMH Properties</h2>
UMH Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) owns and operates 135 manufactured home communities with approximately 25,800 developed homesites across 11 U.S. states. It also has an ownership interest in an additional two communities containing over 350 sites through a joint venture with Nuveen Real Estate.
UMH currently pays a quarterly dividend of $0.205 per share, equating to $0.82 per share annually, giving it a yield of about 5.2% today. It has also raised its annual dividend each of the last three years, making it both a high yield and dividend-growth play.
<h2 class="wp-block-heading">Arrived Homes</h2>
<a href="https://www.benzinga.com/alternative-investments/platform/arrived-homes">Arrived Homes</a> offers another way for investors to gain exposure to real estate. It's an alternative investment platform, backed by <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">Jeff Bezos and Dara Khosrowshahi</a>, that allows individuals to easily invest in real estate by purchasing shares of rental properties. Investors on the platform earn passive income through rental revenue while waiting for the properties they invest in to appreciate in value over time.
<h2 class="wp-block-heading">Read Next:</h2>
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<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
<li>Collecting passive income from real estate just got a whole lot simpler. A new <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">real estate fund backed by Dara Khosrowshahi</a> gives you instant access to a diversified portfolio of rental properties, and you only need $100 to get started.</li>
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Image Credit: Shutterstock

Residential real estate investment trusts (REITs) own, operate and/or finance income-producing residential properties. They provide a way for people to invest in large-scale real estate operations without having to buy or manage properties themselves.&nbsp;
Residential REITs invest in various types of housing, such as apartments, student housing and single-family homes, and generate revenue through leasing space and collecting rents on the properties they own.&nbsp;
There's no shortage of reasons to invest in residential REITs, but before doing so you should compare your options. For many, the best REITs are the ones that pay the highest yields. Here are three investments to consider based on yield alone.
<h2 class="wp-block-heading">Clipper Realty Inc.</h2>
Clipper Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLPR#NYSE">CLPR</a>) currently has the highest dividend yield of all residential REITs at 7.22%. The company focuses on owning, managing and operating multifamily residential and commercial properties in the New York metropolitan area.&nbsp;
<h2 class="wp-block-heading">Apartment Income REIT Corp.</h2>
Apartment Income REIT Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIRC#NYSE">AIRC</a>) has a current dividend yield of 5.39%. The company specializes in the ownership and management of high-quality apartment communities in the United States. It delivers stable income and long-term value to its shareholders through a diversified portfolio of residential properties, primarily targeting key urban and suburban markets.
<h2 class="wp-block-heading">UMH Properties Inc.</h2>
UMH Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) has a current dividend yield of 5.38% and specializes in owning and operating manufactured home communities, primarily in the Northeastern and Midwestern United States. The company focuses on providing affordable housing options by leasing manufactured home sites to residents, alongside selling and leasing homes within these communities.
Investing in real estate just got a whole lot simpler, and you can get started in minutes with as little as $100. <a href="https://www.benzinga.com/alternative-investments/real-estate">Browse available offerings here</a>.

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3 Residential REITs With Yields Up To 7.22%

UMH Properties Expands Partnership With Nuveen Real Estate, A TIAA Company Through Entering Into New Joint Venture

UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) reported quarterly earnings of $0.22 per share. This is a 4.76 percent increase over earnings of $0.21 per share from the same period last year. The company reported $56.04 million in sales this quarter. This is a 7.91 percent increase over sales of $51.94 million the same period last year.

UMH Properties Q3 Normalized FFO per Diluted Common Share $0.22 Up From $0.21 YoY, Sales $56.04M Up From $51.94M YoY

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Earnings Scheduled For November 8, 2023

Wedbush analyst Henry Coffey maintains UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) with a Outperform and raises the price target from $19 to $20.

Wedbush Maintains Outperform on UMH Properties, Raises Price Target to $20

UMH Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UMH#NYSE">UMH</a>) reported quarterly earnings of $0.21 per share. This is a 31.25 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $55.29 million which beat the analyst consensus estimate of $54.86 million by 0.78 percent. This is a 12.33 percent increase over sales of $49.22 million the same period last year.

UMH Properties Q2 EPS $0.21 Up From $0.16 YoY, Sales $55.29M Beat $54.86M Estimate