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Jeffrey A. Carus, a director at UMH Properties, Inc. (NYSE:UMH), recently acquired additional shares in the company. According to a recent SEC filing, Carus purchased 57.97 shares at a price of $17.25 each, totaling approximately $999. This transaction was executed on March 17, 2025, through the Dividend Reinvestment and Stock Purchase Plan. The manufactured housing REIT, currently valued at $1.5 billion, has delivered a strong 22.1% return over the past year. According to InvestingPro analysis, the stock is trading above its Fair Value, with a notably high P/E ratio.
Following this acquisition, Carus holds 487.35 shares in a custodial account for his son, Ethan. Carus also maintains direct ownership of 25,350.72 shares and 586.91 shares in a custodial account for his son, Daniel. Additionally, he owns 500 shares of UMH Properties, Inc. Preferred D stock. The company maintains a robust 4.71% dividend yield and has consistently paid dividends for 36 consecutive years, as highlighted in InvestingPro’s extensive analysis, which includes 8 additional key insights about UMH’s financial health.
In the realm of derivative securities, Carus holds 11,000 shares with an exercise price of $15.80, and another 10,000 shares with an exercise price of $14.36. These holdings are set to expire in 2034 and 2033, respectively. With UMH’s current stock price at $18.25, analysts maintain a positive outlook, setting price targets between $20 and $25.
In other recent news, UMH Properties Inc . announced its financial results for the fourth quarter of 2024, highlighting a revenue achievement of $61.87 million, which exceeded the forecast of $58.47 million. Despite this revenue success, the company reported earnings per share (EPS) of $0.03, falling short of the anticipated $0.05. The company’s normalized funds from operations (FFO) increased by 4% year-over-year to $0.24 per share, while the full-year normalized FFO rose by 8% to $0.93 per share. UMH Properties also plans to expand its rental home offerings by adding 800 homes and targeting 200 new home sales in 2025. The company is exploring a potential joint venture for a 131-acre single-family development in New Jersey. Additionally, UMH Properties has four communities under contract, with a total purchase price of $39.1 million, which are expected to close in the first half of the year. The company remains optimistic about its growth prospects, bolstered by strong demand in the affordable housing market.
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