UMH Properties (NYSE:UMH) Sees Unusually-High Trading Volume – Here’s Why

UMH Properties, Inc. (NYSE:UMH) saw strong trading volume on Wednesday . 618,164 shares were traded during mid-day trading, an increase of 52% from the previous session’s volume of 406,910 shares.The stock last traded at $19.15 and had previously closed at $19.00.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wedbush lifted their price objective on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, B. Riley raised their target price on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

UMH Properties Stock Performance

The company has a 50-day simple moving average of $19.07 and a two-hundred day simple moving average of $18.04. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The firm has a market capitalization of $1.55 billion, a P/E ratio of 146.17, a PEG ratio of 3.40 and a beta of 1.29.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $60.67 million for 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 period in the previous year, the firm posted $0.22 earnings per share. As a group, equities analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.86 annualized dividend and a yield of 4.39%. UMH Properties’s payout ratio is 661.59%.

Insider Buying and Selling at UMH Properties

In other news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the sale, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. The trade was a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the sale, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,845 shares of company stock valued at $1,051,210. 8.63% of the stock is currently owned by corporate insiders.

Institutional Trading of UMH Properties

A number of hedge funds have recently made changes to their positions in UMH. State of Alaska Department of Revenue raised its holdings in UMH Properties by 2.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in UMH Properties by 36.8% in the 3rd 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 during the last quarter. Diversified Trust Co raised its holdings in UMH Properties by 7.2% in the 2nd quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 1,024 shares during the last quarter. Arizona State Retirement System raised its stake in UMH Properties by 6.4% during the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 1,111 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. raised its stake in UMH Properties by 2.4% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock valued at $768,000 after buying an additional 1,124 shares during the last quarter. 75.40% of the stock is owned by 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.