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

StockNews.com upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of UMH Properties in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UMH Properties currently has an average rating of “Hold” and an average target price of $21.17.

UMH Properties Stock Down 0.3 %

UMH stock opened at $17.41 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The company’s 50 day simple moving average is $17.89 and its 200-day simple moving average is $18.45. UMH Properties has a 12 month low of $14.73 and a 12 month high of $20.64. The firm has a market capitalization of $1.44 billion, a PE ratio of 133.93, a P/E/G ratio of 2.93 and a beta of 1.17.

UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The firm had revenue of ($126.74) million for the quarter, compared to analysts’ expectations of $59.73 million. Equities analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.225 per share. This is a boost from UMH Properties’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 15th. This represents a $0.90 annualized dividend and a dividend yield of 5.17%. UMH Properties’s dividend payout ratio (DPR) is 3,000.00%.

Hedge Funds Weigh In On UMH Properties

Several large investors have recently added to or reduced their stakes in the business. 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 valued at $883,000 after acquiring an additional 918 shares during the last quarter. Corebridge Financial Inc. grew its holdings in UMH Properties by 3.7% in the fourth quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 1,286 shares during the period. GF Fund Management CO. LTD. acquired a new position in UMH Properties during the fourth quarter worth approximately $26,000. Summit Investment Advisors Inc. raised its stake in UMH Properties by 22.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,564 shares of the real estate investment trust’s stock worth $143,000 after purchasing an additional 1,365 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in UMH Properties by 1,011.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,456 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

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.