NYSE:UMH.PRB

Stock Analysis Report

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Executive Summary

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 122 manufactured home communities containing approximately 23,100 developed homesites.


Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

How has UMH Properties's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: UMH.PRB's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

0.2%

UMH.PRB

3.3%

US REITs

1.7%

US Market


1 Year Return

-2.8%

UMH.PRB

-8.6%

US REITs

8.5%

US Market

Return vs Industry: UMH.PRB exceeded the US REITs industry which returned -8.6% over the past year.

Return vs Market: UMH.PRB underperformed the US Market which returned 8.5% over the past year.


Shareholder returns

UMH.PRBIndustryMarket
7 Day0.2%3.3%1.7%
30 Day3.6%7.8%9.5%
90 Day-1.8%-14.4%0.1%
1 Year5.0%-2.8%-4.8%-8.6%11.0%8.5%
3 Year18.1%-6.0%13.6%-0.4%32.2%23.5%
5 Yearn/a44.4%14.7%58.6%40.8%

Price Volatility Vs. Market

How volatile is UMH Properties's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is UMH Properties undervalued compared to its fair value and its price relative to the market?

5.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: UMH.PRB ($25.16) is trading below our estimate of fair value ($26.62)

Significantly Below Fair Value: UMH.PRB is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: UMH.PRB is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: UMH.PRB is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate UMH.PRB's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: UMH.PRB is overvalued based on its PB Ratio (5.9x) compared to the US REITs industry average (1.4x).


Next Steps

Future Growth

How is UMH Properties forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

82.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UMH.PRB is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: UMH.PRB is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: UMH.PRB is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: UMH.PRB's revenue (10.6% per year) is forecast to grow faster than the US market (8.9% per year).

High Growth Revenue: UMH.PRB's revenue (10.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if UMH.PRB's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has UMH Properties performed over the past 5 years?

-45.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: UMH.PRB is currently unprofitable.

Growing Profit Margin: UMH.PRB is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: UMH.PRB is unprofitable, and losses have increased over the past 5 years at a rate of -45% per year.

Accelerating Growth: Unable to compare UMH.PRB's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: UMH.PRB is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (5.3%).


Return on Equity

High ROE: UMH.PRB has a negative Return on Equity (-3.22%), as it is currently unprofitable.


Next Steps

Financial Health

How is UMH Properties's financial position?


Financial Position Analysis

Short Term Liabilities: UMH.PRB's short term assets ($91.9M) exceed its short term liabilities ($12.4M).

Long Term Liabilities: UMH.PRB's short term assets ($91.9M) do not cover its long term liabilities ($426.7M).


Debt to Equity History and Analysis

Debt Level: UMH.PRB's debt to equity ratio (74.3%) is considered high.

Reducing Debt: UMH.PRB's debt to equity ratio has reduced from 127.6% to 74.3% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable UMH.PRB has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: UMH.PRB is unprofitable but has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 13.3% per year.


Next Steps

Dividend

What is UMH Properties's current dividend yield, its reliability and sustainability?

5.53%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: UMH.PRB's dividend (5.53%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: UMH.PRB's dividend (5.53%) is in the top 25% of dividend payers in the US market (4.48%)


Stability and Growth of Payments

Stable Dividend: UMH.PRB's dividends per share have been stable in the past 10 years.

Growing Dividend: UMH.PRB's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (208.1%), UMH.PRB's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: UMH.PRB's dividends in 3 years are forecast to be thoroughly covered by earnings (2.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

10.9yrs

Average management tenure


CEO

Samuel Landy (59yo)

25.42yrs

Tenure

US$753,371

Compensation

Mr. Samuel A. Landy has been Chief Executive Officer and President of UMH Properties Inc. since 1995. Mr. Landy served as the Vice President at UMH Properties from 1991 to 1995. He has been a Director of M ...


CEO Compensation Analysis

Compensation vs Market: Samuel's total compensation ($USD753.37K) is below average for companies of similar size in the US market ($USD2.21M).

Compensation vs Earnings: Samuel's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Samuel Landy
President25.42yrsUS$753.37k1.64% $8.8m
Anna Chew
VP, Chief Financial & Accounting Officer25.42yrsUS$677.87k1.24% $6.7m
Brett Taft
VP & COO0.42yrUS$415.24k0.021% $111.7k
Craig Koster
General Counsel & Secretary5.42yrsUS$421.21k0.040% $216.3k
Nelli Madden
Director of Investor Relationsno datano datano data
Christine Lindsey
Vice President of Sales17yrsno datano data
Kristin Langley
Controllerno datano datano data
Jeffrey Yorick
Vice President of Engineering16.42yrsno datano data
Robert Van Schuyver
Vice President5.17yrsno datano data
Regina Beasley
Vice President5.17yrsno datano data

10.9yrs

Average Tenure

51yo

Average Age

Experienced Management: UMH.PRB's management team is seasoned and experienced (10.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Samuel Landy
President25.42yrsUS$753.37k1.64% $8.8m
Anna Chew
VP, Chief Financial & Accounting Officer25.42yrsUS$677.87k1.24% $6.7m
Eugene Landy
Founder & Chairman of the Board25.42yrsUS$576.02k2.44% $13.1m
Matthew Hirsch
Presiding Independent Director4.17yrsUS$69.71k0.074% $395.2k
Michael Landy
Director9.17yrsUS$68.41k0.95% $5.1m
Stephen Wolgin
Independent Director13.08yrsUS$79.11k0.075% $403.1k
Kenneth Quigley
Independent Director4.17yrsUS$74.21k0.021% $111.9k
Jeffrey Carus
Independent Director9.17yrsUS$76.81k0.025% $132.6k
Stuart Levy
Independent Director8.75yrsUS$78.81k0.015% $78.8k
William Mitchell
Independent Director1yrUS$35.58k0.0076% $40.8k

9.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: UMH.PRB's board of directors are considered experienced (9.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: UMH.PRB insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 4.2%.


Top Shareholders

Company Information

UMH Properties, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: UMH Properties, Inc.
  • Ticker: UMH.PRB
  • Exchange: NYSE
  • Founded: 1968
  • Industry: Residential REITs
  • Sector: Real Estate
  • Market Cap: US$536.042m
  • Shares outstanding: 41.17m
  • Website: https://www.umh.reit

Number of Employees


Location

  • UMH Properties, Inc.
  • Juniper Business Plaza
  • Suite 3-C
  • Freehold
  • New Jersey
  • 7728
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UMHNYSE (New York Stock Exchange)YesCommon StockUSUSDFeb 1985
WXEDB (Deutsche Boerse AG)YesCommon StockDEEURFeb 1985
UMH.PRBNYSE (New York Stock Exchange)PFD RED SER BUSUSDOct 2015
UMH.PRCNYSE (New York Stock Exchange)6.75% CUM PFD CUSUSDJul 2017
UMH.PRDNYSE (New York Stock Exchange)6.375% CUM PFD DUSUSDJan 2018

Biography

UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 122 manufactured home communities containing approximately 23,100 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/03 05:10
End of Day Share Price2020/06/02 00:00
Earnings2020/03/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.