UMH Properties, Inc. (NYSE:UMH) Given Average Rating of “Moderate Buy” by Brokerages

Shares of UMH Properties, Inc. (NYSE:UMH) have been given a consensus recommendation of “Moderate Buy” by the five brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $21.00.

Several brokerages recently weighed in on UMH. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research report on Monday, May 5th. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of UMH Properties in a research report on Monday, January 13th. Finally, Maxim Group decreased their target price on shares of UMH Properties from $22.00 to $20.50 and set a “buy” rating on the stock in a research report on Monday, May 5th.

Insiders Place Their Bets

In other UMH Properties news, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $17.20, for a total value of $1,218,654.40. Following the sale, the director now owns 215,427 shares of the company’s stock, valued at $3,705,344.40. This trade represents a 24.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.77% of the stock is owned by company insiders.

Institutional Trading of UMH Properties

A number of large investors have recently made changes to their positions in UMH. Capital Research Global Investors lifted its position in shares of UMH Properties by 124.5% during the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust’s stock worth $76,121,000 after purchasing an additional 2,236,080 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in UMH Properties in the fourth quarter valued at $23,396,000. Vanguard Group Inc. lifted its holdings in UMH Properties by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust’s stock worth $141,722,000 after buying an additional 799,798 shares during the last quarter. APG Asset Management US Inc. acquired a new position in shares of UMH Properties during the 4th quarter worth about $9,121,000. Finally, BROOKFIELD Corp ON increased its holdings in shares of UMH Properties by 202.7% in the 4th quarter. BROOKFIELD Corp ON now owns 666,534 shares of the real estate investment trust’s stock valued at $12,584,000 after acquiring an additional 446,371 shares during the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

UMH Properties Stock Up 0.6 %

Shares of NYSE:UMH opened at $17.32 on Monday. UMH Properties has a 52-week low of $14.73 and a 52-week high of $20.64. The stock has a market cap of $1.46 billion, a P/E ratio of 133.24, a PEG ratio of 2.93 and a beta of 1.14. The business has a fifty day moving average of $17.75 and a two-hundred day moving average of $18.36. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last released its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The firm had revenue of $61.23 million during the quarter, compared to analysts’ expectations of $62.82 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. On average, research analysts expect that UMH Properties will post 0.93 earnings per share for the current year.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be issued a $0.225 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.20%. This is a boost from UMH Properties’s previous quarterly dividend of $0.22. UMH Properties’s payout ratio is 750.00%.

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.