UMH Properties (NYSE:UMH) Upgraded by Zacks Investment Research to Buy


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UMH Properties (NYSE:UMH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The firm presently has a $22.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 14.52% from the stock’s current price.

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. “

UMH has been the subject of several other research reports. B. Riley increased their price objective on shares of UMH Properties from $16.50 to $21.00 and gave the company a “buy” rating in a research note on Friday, March 12th. TheStreet upgraded shares of UMH Properties from a “c” rating to a “b-” rating in a research note on Thursday, March 25th. Finally, Aegis started coverage on shares of UMH Properties in a research note on Monday, March 29th. They issued a “buy” rating and a $25.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, UMH Properties currently has an average rating of “Buy” and an average price target of $20.33.

UMH opened at $19.21 on Tuesday. The company has a debt-to-equity ratio of 6.16, a current ratio of 4.86 and a quick ratio of 4.86. UMH Properties has a fifty-two week low of $10.15 and a fifty-two week high of $19.86. The firm has a market capitalization of $813.95 million, a PE ratio of -16.28 and a beta of 1.07. The company’s 50-day moving average is $18.66 and its 200 day moving average is $15.77.

UMH Properties (NYSE:UMH) last posted its earnings results on Tuesday, March 9th. The real estate investment trust reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.49. UMH Properties had a negative net margin of 13.64% and a negative return on equity of 21.08%. As a group, analysts expect that UMH Properties will post 0.69 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC bought a new position in UMH Properties in the 4th quarter worth approximately $33,000. Inspire Advisors LLC bought a new position in UMH Properties in the 4th quarter worth approximately $61,000. Citigroup Inc. lifted its stake in UMH Properties by 208.9% in the 4th quarter. Citigroup Inc. now owns 7,651 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 5,174 shares in the last quarter. SG Americas Securities LLC purchased a new stake in UMH Properties in the 4th quarter worth approximately $114,000. Finally, Great West Life Assurance Co. Can lifted its stake in UMH Properties by 23.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 9,054 shares of the real estate investment trust’s stock worth $123,000 after purchasing an additional 1,748 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

UMH Properties Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 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 (NYSE:UMH)

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