UMH PROPERTIES/SH SH (NYSE:UMH) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of UMH PROPERTIES/SH SH (NYSE:UMH) from a hold rating to a sell rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “United Mobile Home’s primary business is the ownership and operation of manufactured home communities – leasing manufactured home spaces on a month-to-month basis to private manufactured home owners. The company also leases homes to residents. A manufactured home community is designed to accommodate detached, single family manufactured housing units, which are produced off-site by manufacturers and delivered by truck to the site. “

A number of other brokerages also recently commented on UMH. Maxim Group set a $17.00 price objective on shares of UMH PROPERTIES/SH SH and gave the company a buy rating in a research report on Monday, August 12th. DA Davidson reissued a buy rating on shares of UMH PROPERTIES/SH SH in a research report on Monday, July 29th. TheStreet raised shares of UMH PROPERTIES/SH SH from a d+ rating to a c- rating in a research report on Thursday, October 3rd. Finally, Compass Point started coverage on shares of UMH PROPERTIES/SH SH in a research report on Monday, July 22nd. They issued a buy rating and a $19.50 price objective on the stock. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. UMH PROPERTIES/SH SH currently has a consensus rating of Buy and an average target price of $17.40.

UMH PROPERTIES/SH SH stock opened at $14.30 on Friday. The firm has a market cap of $574.13 million, a PE ratio of 19.32, a price-to-earnings-growth ratio of 2.10 and a beta of 0.61. UMH PROPERTIES/SH SH has a 52-week low of $11.14 and a 52-week high of $15.07. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 2.59. The company’s 50 day moving average is $13.67 and its two-hundred day moving average is $13.30.

UMH PROPERTIES/SH SH (NYSE:UMH) last released its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.32). The business had revenue of $37.23 million for the quarter, compared to analyst estimates of $36.26 million. UMH PROPERTIES/SH SH had a negative return on equity of 22.16% and a negative net margin of 23.38%. On average, equities research analysts anticipate that UMH PROPERTIES/SH SH will post 0.68 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Thursday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is 97.30%.

In related news, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $11.86, for a total value of $94,880.00. Following the transaction, the chairman now directly owns 603,555 shares of the company’s stock, valued at approximately $7,158,162.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Umh Properties, Inc. bought 17,810 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $243,997.00. The disclosure for this purchase can be found here. Insiders purchased a total of 21,999 shares of company stock worth $294,500 over the last ninety days. Insiders own 10.84% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of UMH. FMR LLC grew its position in UMH PROPERTIES/SH SH by 197.8% during the 1st quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock worth $21,962,000 after purchasing an additional 1,035,919 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in UMH PROPERTIES/SH SH during the 1st quarter worth $2,431,000. Nuveen Asset Management LLC purchased a new position in UMH PROPERTIES/SH SH during the 2nd quarter worth $2,340,000. Investment Counselors of Maryland LLC grew its position in UMH PROPERTIES/SH SH by 12.8% during the 2nd quarter. Investment Counselors of Maryland LLC now owns 1,297,559 shares of the real estate investment trust’s stock worth $16,103,000 after purchasing an additional 147,083 shares during the last quarter. Finally, Foundry Partners LLC grew its position in UMH PROPERTIES/SH SH by 58.6% during the 2nd quarter. Foundry Partners LLC now owns 343,250 shares of the real estate investment trust’s stock worth $4,260,000 after purchasing an additional 126,788 shares during the last quarter. 60.16% of the stock is currently owned by hedge funds and other institutional investors.

UMH PROPERTIES/SH SH Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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Analyst Recommendations for UMH PROPERTIES/SH SH (NYSE:UMH)

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