UMH Properties (NYSE:UMH) Upgraded by Wall Street Zen to “Hold” Rating

UMH Properties (NYSE:UMH) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

Several other analysts have also recently weighed in on UMH. B. Riley reaffirmed a “buy” rating on shares of UMH Properties in a research report on Tuesday, May 13th. Maxim Group cut their price objective on UMH Properties from $22.00 to $20.50 and set a “buy” rating on the stock in a research report on Monday, May 5th. Two investment 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 has an average rating of “Moderate Buy” and a consensus target price of $21.00.

UMH Properties Stock Performance

UMH Properties stock opened at $16.76 on Friday. The stock’s 50 day simple moving average is $17.14 and its two-hundred day simple moving average is $18.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of 128.89, a PEG ratio of 2.93 and a beta of 1.12. UMH Properties has a fifty-two week low of $15.00 and a fifty-two week high of $20.64.

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

Insider Transactions at UMH Properties

In other news, CEO Samuel A. Landy sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $17.11, for a total value of $427,750.00. Following the sale, the chief executive officer now directly owns 1,165,265 shares of the company’s stock, valued at $19,937,684.15. The trade was a 2.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $677,159.56. Following the completion of the transaction, the director now owns 115,627 shares of the company’s stock, valued at approximately $1,958,721.38. The trade was a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 135,826 shares of company stock valued at $2,323,564 in the last ninety days. 8.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UMH Properties

A number of hedge funds have recently added to or reduced their stakes in the company. Aberdeen Group plc raised its holdings in UMH Properties by 3.6% in the 1st quarter. Aberdeen Group plc now owns 19,132 shares of the real estate investment trust’s stock worth $358,000 after acquiring an additional 668 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in UMH Properties by 2.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust’s stock worth $491,000 after acquiring an additional 671 shares during the last quarter. Deutsche Bank AG raised its holdings in UMH Properties by 0.8% in the 1st quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust’s stock worth $1,545,000 after acquiring an additional 682 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in UMH Properties by 2.0% in 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 acquiring an additional 918 shares during the last quarter. Finally, Inspire Investing LLC raised its stake in 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 valued at $418,000 after buying an additional 1,007 shares during the last quarter. 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.