UMH Properties (NYSE:UMH) Director Purchases $29,840.00 in Stock

UMH Properties, Inc. (NYSE:UMH) Director William Edward Mitchell purchased 2,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were bought at an average cost of $14.92 per share, for a total transaction of $29,840.00. Following the completion of the transaction, the director directly owned 28,737 shares in the company, valued at $428,756.04. This trade represents a 7.48% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

William Edward Mitchell also recently made the following trade(s):

• On Monday, November 10th, William Edward Mitchell sold 2,000 shares of UMH Properties stock. The shares were sold at an average price of $15.00, for a total value of $30,000.00.

UMH Properties Stock Performance

Shares of UMH stock opened at $15.24 on Thursday. UMH Properties, Inc. has a 52-week low of $13.95 and a 52-week high of $20.03. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.30 billion, a PE ratio of 108.82, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The business has a 50-day simple moving average of $14.70 and a 200-day simple moving average of $15.84.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.The company had revenue of $66.92 million during the quarter, compared to analysts’ expectations of $68.70 million. On average, equities analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Monday, November 17th. UMH Properties’s payout ratio is currently 1,125.00%.

Institutional Investors Weigh In On UMH Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in UMH. Cloud Capital Management LLC purchased a new position in UMH Properties during the third quarter valued at $29,000. Stone House Investment Management LLC purchased a new stake in shares of UMH Properties during the first quarter worth about $34,000. Summit Securities Group LLC acquired a new position in shares of UMH Properties during the 1st quarter worth about $35,000. KBC Group NV raised its position in shares of UMH Properties by 74.0% during the 2nd quarter. KBC Group NV now owns 3,005 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,278 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in UMH Properties in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of UMH Properties in a report on Wednesday, October 1st. They set a “neutral” rating and a $15.00 price target on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of UMH Properties in a research report on Wednesday, October 8th. Finally, B. Riley lowered their target price on shares of UMH Properties from $19.00 to $18.50 and set a “buy” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.50.

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.