UMH Properties (NYSE:UMH) Stock Rating Upgraded by Wall Street Zen

UMH Properties (NYSE:UMH) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other equities analysts have also commented on UMH. Maxim Group cut their price target on UMH Properties from $22.00 to $20.50 and set a “buy” rating for the company in a report on Monday, May 5th. B. Riley reaffirmed a “buy” rating on shares of UMH Properties in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

UMH Properties Price Performance

Shares of NYSE UMH opened at $16.76 on Friday. The stock has a fifty day simple moving average of $17.14 and a two-hundred day simple moving average of $18.04. UMH Properties has a 1-year low of $15.00 and a 1-year high of $20.64. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 128.89, a price-to-earnings-growth ratio of 2.93 and a beta of 1.12. 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 announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $61.23 million during the quarter, compared to analyst estimates of $62.82 million. Analysts anticipate that UMH Properties will post 0.93 earnings per share for the current year.

Insider Activity at UMH Properties

In related news, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction on Monday, May 19th. The stock was sold at an average price of $17.11, for a total transaction of $427,750.00. Following the completion of the sale, the chief executive officer now owns 1,165,265 shares of the company’s stock, valued at approximately $19,937,684.15. This trade represents a 2.10% 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. Also, Director William Edward Mitchell sold 70,852 shares of UMH Properties stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $17.20, for a total value of $1,218,654.40. Following the sale, the director now directly owns 215,427 shares of the company’s stock, valued at $3,705,344.40. This represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 135,826 shares of company stock valued at $2,323,564. Company insiders own 8.77% of the company’s stock.

Institutional Investors Weigh In On UMH Properties

A number of large investors have recently added to or reduced their stakes in UMH. Barclays PLC raised its position in UMH Properties by 101.1% during the third quarter. Barclays PLC now owns 160,406 shares of the real estate investment trust’s stock valued at $3,155,000 after purchasing an additional 80,660 shares in the last quarter. abrdn plc increased its holdings in UMH Properties by 44.5% during the 4th quarter. abrdn plc now owns 18,464 shares of the real estate investment trust’s stock valued at $346,000 after purchasing an additional 5,685 shares during the period. State of Alaska Department of Revenue increased its holdings in UMH Properties by 10.6% during the 4th quarter. State of Alaska Department of Revenue now owns 34,614 shares of the real estate investment trust’s stock valued at $652,000 after purchasing an additional 3,310 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in UMH Properties by 5.8% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 79,674 shares of the real estate investment trust’s stock valued at $1,504,000 after purchasing an additional 4,387 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in UMH Properties by 56.0% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,656 shares of the real estate investment trust’s stock valued at $333,000 after purchasing an additional 6,340 shares during the period. 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.