UMH Properties (NYSE:UMH) Raised to Hold at StockNews.com

StockNews.com upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a report published on Saturday.

Several other equities analysts have also recently issued reports on UMH. Wedbush reiterated a neutral rating and issued a $17.00 price target on shares of UMH Properties in a report on Monday, March 25th. Compass Point raised their target price on shares of UMH Properties from $20.00 to $21.50 and gave the company a buy rating in a research note on Thursday, March 21st. Finally, B. Riley started coverage on shares of UMH Properties in a research note on Thursday, March 21st. They set a buy rating and a $18.50 price target for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $19.00.

UMH Properties Stock Up 1.7 %

Shares of UMH opened at $15.93 on Friday. The business’s fifty day moving average price is $15.62 and its two-hundred day moving average price is $15.05. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -106.19, a PEG ratio of 2.81 and a beta of 1.24. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52.

UMH Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be paid a $0.215 dividend. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 annualized dividend and a yield of 5.40%. UMH Properties’s dividend payout ratio is presently -546.63%.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the completion of the sale, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at approximately $1,544,049.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in UMH Properties by 10.6% in the fourth quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock worth $100,212,000 after purchasing an additional 629,427 shares during the period. American Century Companies Inc. increased its position in shares of UMH Properties by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock valued at $35,501,000 after buying an additional 576,304 shares in the last quarter. Private Management Group Inc. raised its stake in UMH Properties by 27.1% during the 4th quarter. Private Management Group Inc. now owns 1,316,789 shares of the real estate investment trust’s stock worth $20,173,000 after buying an additional 280,436 shares during the period. Raymond James & Associates lifted its holdings in UMH Properties by 24.1% during the first quarter. Raymond James & Associates now owns 825,371 shares of the real estate investment trust’s stock worth $13,404,000 after acquiring an additional 160,503 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in UMH Properties by 7.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 800,569 shares of the real estate investment trust’s stock worth $12,265,000 after acquiring an additional 57,721 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

UMH Properties Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.