UMH Properties: Elevated P/FFO On A Flimsy Foundation (Rating Downgrade)
UMH's rental revenues increased 9.1% to $51.5 million in Q2'24. Leverage reduced to 5.7x with fixed-rate debt providing stability. Analysts show mixed ratings: five 'buy' and three 'hold' amid valuation concerns. UMH shares are up 31.3% since April but may have limited upside now. Fundamentals remain strong, but recent price surge may indicate overvaluation.
View signal analysis