UMH Properties (NYSE:UMH) Upgraded by StockNews.com to Hold

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

Other equities analysts have also recently issued research reports about the stock. Compass Point upped 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. B. Riley initiated coverage on shares of UMH Properties in a research report on Thursday, March 21st. They set a buy rating and a $18.50 price objective on the stock. Finally, Wedbush restated a neutral rating and issued a $17.00 target price on shares of UMH Properties in a report on Monday, March 25th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $19.00.

UMH Properties Stock Performance

Shares of NYSE:UMH opened at $15.93 on Friday. UMH Properties has a 1 year low of $13.26 and a 1 year high of $16.85. The stock’s fifty day moving average price is $15.62 and its 200-day moving average price is $15.05. The company has a market cap of $1.10 billion, a P/E ratio of -106.16, a PEG ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.52 and a quick ratio of 6.52.

UMH Properties Increases Dividend

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

Insider Activity

In related news, COO Brett Taft sold 9,800 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total transaction of $155,918.00. Following the completion of the sale, the chief operating officer now directly owns 97,049 shares in the company, valued at $1,544,049.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On UMH Properties

Several institutional investors and hedge funds have recently bought and sold shares of UMH. Vanguard Group Inc. increased its position 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 buying an additional 629,427 shares in the last quarter. American Century Companies Inc. grew its stake in shares of UMH Properties by 29.5% during 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 acquiring an additional 576,304 shares during the period. Private Management Group Inc. increased its holdings in UMH Properties by 27.1% in 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 acquiring an additional 280,436 shares in the last quarter. Raymond James & Associates raised its stake in UMH Properties by 24.1% during the 1st 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in UMH Properties by 7.8% during the 4th 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 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.