UMH Properties, Inc. (NYSE:UMH) Short Interest Down 41.2% in August

UMH Properties, Inc. (NYSE:UMH) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 658,800 shares, a drop of 41.2% from the August 15th total of 1,120,000 shares. Based on an average daily trading volume, of 483,900 shares, the days-to-cover ratio is currently 1.4 days.

UMH Properties Stock Performance

Shares of UMH stock opened at $20.00 on Friday. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.77 and a quick ratio of 6.77. The company’s fifty day moving average price is $18.49 and its two-hundred day moving average price is $16.63. The firm has a market capitalization of $1.41 billion, a P/E ratio of -133.30, a P/E/G ratio of 3.52 and a beta of 1.30. UMH Properties has a 12 month low of $13.26 and a 12 month high of $20.11.

UMH Properties (NYSE:UMH) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. The business had revenue of $60.33 million during the quarter, compared to analyst estimates of $59.84 million. During the same quarter last year, the firm posted $0.21 EPS. On average, research analysts anticipate that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties’s payout ratio is currently -573.33%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on UMH shares. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Alliance Global Partners initiated coverage on UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective on the stock. B. Riley increased their target price on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Wedbush raised their target price on UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.25.

Insider Buying and Selling

In other news, Director Michael P. Landy purchased 4,700 shares of the stock in a transaction on Tuesday, June 18th. The stock was purchased at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now owns 341,796 shares in the company, valued at $5,280,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Kiernan Conway sold 2,700 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.54, for a total value of $52,758.00. Following the transaction, the director now owns 412 shares in the company, valued at $8,050.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael P. Landy purchased 4,700 shares of UMH Properties stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the completion of the transaction, the director now owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The disclosure for this purchase can be found here. Corporate insiders own 8.63% of the company’s stock.

Institutional Trading of UMH Properties

A number of hedge funds and other institutional investors have recently made changes to their positions in UMH. Vanguard Group Inc. grew its holdings in UMH Properties by 10.6% during the 4th quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock worth $100,212,000 after acquiring an additional 629,427 shares in the last quarter. Kennedy Capital Management LLC lifted its position in shares of UMH Properties by 245.9% during the first quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust’s stock worth $10,789,000 after purchasing an additional 472,307 shares during the last quarter. Marshall Wace LLP acquired a new position in UMH Properties in the second quarter worth about $2,300,000. Panagora Asset Management Inc. bought a new stake in UMH Properties in the fourth quarter valued at about $1,819,000. Finally, AQR Capital Management LLC raised its stake in UMH Properties by 268.8% during the second quarter. AQR Capital Management LLC now owns 127,087 shares of the real estate investment trust’s stock valued at $2,032,000 after buying an additional 92,625 shares in the last quarter. 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.