UMH Properties (NYSE:UMH) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a research note published on Tuesday morning.

UMH has been the topic of a number of other research reports. Wedbush reaffirmed a neutral rating and issued a $17.00 price objective on shares of UMH Properties in a research note on Monday, March 25th. Compass Point lifted their price target on UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, B. Riley started coverage on UMH Properties in a research report on Thursday, March 21st. They set a buy rating and a $18.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and a consensus price target of $19.00.

UMH Properties Price Performance

UMH stock opened at $15.25 on Tuesday. The company has a market capitalization of $1.06 billion, a PE ratio of -101.63, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. The company’s fifty day moving average price is $15.47 and its 200-day moving average price is $14.95. UMH Properties has a one year low of $13.26 and a one year high of $16.85. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52.

UMH Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be paid a $0.215 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.86 annualized dividend and a yield of 5.64%. This is an increase from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio (DPR) is presently -546.63%.

Insider Buying and Selling at UMH Properties

In related news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction dated 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 owns 97,049 shares in the company, valued at approximately $1,544,049.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.63% of the company’s stock.

Institutional Trading of UMH Properties

A number of hedge funds have recently added to or reduced their stakes in the business. SRS Capital Advisors Inc. boosted its stake in shares of UMH Properties by 382.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,711 shares in the last quarter. Federated Hermes Inc. boosted its position in UMH Properties by 54.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 856 shares in the last quarter. Spire Wealth Management increased its holdings in shares of UMH Properties by 177.8% in the 3rd quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 2,125 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of UMH Properties in the 1st quarter worth $58,000. Finally, Quantbot Technologies LP lifted its stake in shares of UMH Properties by 1,600.0% during the 2nd quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock worth $60,000 after purchasing an additional 3,200 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.