UMH Properties (NYSE:UMH) Upgraded at StockNews.com

UMH Properties (NYSE:UMH) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

A number of other brokerages have also weighed in on UMH. Wedbush increased their target price on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. B. Riley lifted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

UMH Properties Trading Down 1.9 %

NYSE:UMH opened at $19.16 on Friday. The firm’s 50 day moving average is $19.23 and its 200 day moving average is $17.76. UMH Properties has a 12 month low of $13.91 and a 12 month high of $20.64. The stock has a market capitalization of $1.51 billion, a PE ratio of 147.40, a price-to-earnings-growth ratio of 3.43 and a beta of 1.30. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. Sell-side analysts expect that UMH Properties will post 0.93 earnings per share for the current year.

Insider Activity

In related news, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the sale, the chief executive officer now owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.63% of the stock is owned by company insiders.

Institutional Trading of UMH Properties

Institutional investors and hedge funds have recently modified their holdings of the business. State of Alaska Department of Revenue increased its position in shares of UMH Properties by 2.2% in the third quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in UMH Properties by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 698 shares in the last quarter. Diversified Trust Co increased its stake in UMH Properties by 7.2% in the second quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 1,024 shares during the last quarter. Arizona State Retirement System raised its position in UMH Properties by 6.4% during the second quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 1,111 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of UMH Properties by 2.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock worth $768,000 after purchasing an additional 1,124 shares in the last quarter. Hedge funds and other 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.