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UMH Properties EVP and COO sells shares worth over $155k

Published 04/05/2024, 01:47 PM

UMH Properties, Inc. (NYSE:UMH) executive vice president and chief operating officer, Brett Taft, has recently sold a significant number of shares in the company. The transaction, which took place on April 3, 2024, involved the sale of 9,800 shares at a price of $15.91 per share, resulting in a total value of $155,918.

This sale comes alongside Taft's exercise of stock options, which was carried out on April 5, 2024. The options exercise allowed Taft to acquire 20,000 shares at the advantageous price of $9.77 per share, amounting to a total transaction value of $195,400. It's worth noting that the shares sold were to cover the expenses associated with the exercise of stock options, as indicated in the footnotes of the SEC filing.

Following these transactions, Brett Taft's direct holdings in UMH Properties have undergone a notable change. After selling and acquiring shares, Taft's updated stake in the company stands at 117,048.95 shares.

UMH Properties, a real estate investment trust specializing in manufactured home communities, has been a notable player in the real estate sector. These transactions by a high-ranking executive are often of interest to investors and market watchers, as they can provide insights into the executive's view of the company's stock value and future prospects.

Investors and interested parties can find more details about these transactions in the company's latest Form 4 filing with the Securities and Exchange Commission. As always, it's recommended that investors consider the broader context of the market and the company's performance when assessing the implications of insider transactions.

InvestingPro Insights

Following the recent insider transactions by UMH Properties, Inc.'s executive vice president and chief operating officer, Brett Taft, investors may be seeking additional context to understand the company's financial health and market position. Here are some insights based on real-time data and tips from InvestingPro that could help in forming a more comprehensive picture.

Despite the insider selling, UMH Properties has demonstrated a commitment to shareholder returns, having raised its dividend for three consecutive years and maintained dividend payments for 35 consecutive years, signaling confidence in its business model and future earnings potential. This is particularly notable as the company's net income is expected to grow this year, providing a potential upside for investors. However, it's important to note that analysts do not anticipate the company will be profitable this year, which could be a point of concern for those looking at short-term performance.

From a financial standpoint, UMH Properties has a market capitalization of $1.09 billion and has been trading near its 52-week high, with a price percentage of the high at 93.95%. The company's revenue has grown by 12.82% over the last twelve months as of Q1 2023, reflecting a positive trend in its business operations. Additionally, UMH's liquid assets exceed its short term obligations, indicating a solid liquidity position that could help navigate any short-term economic headwinds.

Investors interested in a deeper dive into UMH Properties can explore additional InvestingPro Tips on the platform. Currently, there are 7 more tips available that could provide further insights into the company's valuation, profitability, and market trends. For those looking to enhance their investment research, using the coupon code PRONEWS24 can secure an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.

UMH Properties' next earnings date is set for May 2, 2024, which will be a significant event for investors to gauge the company's performance and future outlook. With a fair value estimation of $18.25 by analysts and an InvestingPro fair value of $13.8, investors have a range of perspectives to consider when evaluating the stock's potential.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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