UMH Properties (NYSE:UMH) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of UMH Properties (NYSE:UMH) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Wall Street Zen upgraded UMH Properties from a “sell” rating to a “hold” rating in a research report on Friday, June 6th. Maxim Group dropped their price objective on UMH Properties from $22.00 to $20.50 and set a “buy” rating on the stock in a research note on Monday, May 5th. Finally, B. Riley reissued a “buy” rating on shares of UMH Properties in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

UMH Properties Trading Up 1.1%

UMH opened at $17.34 on Wednesday. The business has a 50 day moving average of $17.01 and a 200-day moving average of $17.72. The stock has a market cap of $1.46 billion, a PE ratio of 144.51, a PEG ratio of 2.89 and a beta of 1.10. UMH Properties has a 52 week low of $15.74 and a 52 week high of $20.64. The company has a quick ratio of 6.98, a current ratio of 6.98 and a debt-to-equity ratio of 1.02.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. The firm had revenue of $61.23 million during the quarter, compared to analysts’ expectations of $62.82 million. Equities research analysts predict that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties’s dividend payout ratio is presently 750.00%.

Insider Buying and Selling

In other UMH Properties news, Director William Edward Mitchell sold 39,974 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.94, for a total value of $677,159.56. Following the sale, the director owned 115,627 shares of the company’s stock, valued at $1,958,721.38. The trade was a 25.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the chief executive officer directly owned 1,140,265 shares in the company, valued at $19,236,270.55. This represents a 2.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 160,826 shares of company stock worth $2,745,314. 8.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UMH Properties

Several hedge funds have recently made changes to their positions in UMH. Aberdeen Group plc boosted its stake in shares of UMH Properties by 3.6% during the first quarter. Aberdeen Group plc now owns 19,132 shares of the real estate investment trust’s stock worth $358,000 after buying an additional 668 shares during the period. Avantax Advisory Services Inc. increased its holdings in UMH Properties by 2.6% in the first quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust’s stock valued at $491,000 after buying an additional 671 shares in the last quarter. Deutsche Bank AG increased its stake in shares of UMH Properties by 0.8% during the 1st quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust’s stock worth $1,545,000 after purchasing an additional 682 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of UMH Properties by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust’s stock worth $883,000 after purchasing an additional 918 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in shares of UMH Properties by 4.7% during the 1st quarter. Inspire Investing LLC now owns 22,379 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 1,007 shares in the last quarter. Hedge funds and other institutional investors 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.