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

UMH Properties (NYSE:UMH) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of UMH Properties in a 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.17.

UMH Properties Stock Performance

UMH opened at $18.70 on Thursday. The company has a market cap of $1.54 billion, a P/E ratio of 143.82, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm’s 50-day moving average price is $18.19 and its 200-day moving average price is $18.77. UMH Properties has a 52-week low of $14.73 and a 52-week high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.03 by $0.21. The company had revenue of ($126.74) million for the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. As a group, equities analysts anticipate that UMH Properties will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted 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 valued at $883,000 after purchasing an additional 918 shares in the last quarter. Centiva Capital LP raised its position in shares of UMH Properties by 4.0% in the third quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 1,195 shares during the last quarter. Corebridge Financial Inc. raised its position in shares of 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 buying an additional 1,286 shares during the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of UMH Properties in the fourth quarter worth about $26,000. Finally, Summit Investment Advisors Inc. boosted its position 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 acquiring an additional 1,365 shares during the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

About UMH Properties

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.