UMH Properties, Inc. (NYSE:UMH) Earns Outperform Rating from FBR & Co
FBR & Co reissued their outperform rating on shares of UMH Properties, Inc. (NYSE:UMH) in a report issued on Tuesday, July 11th, MarketBeat Ratings reports. FBR & Co currently has a $18.50 target price on the real estate investment trust’s stock. FBR & Co also issued estimates for UMH Properties’ Q2 2017 earnings at $0.19 EPS, Q3 2017 earnings at $0.19 EPS, Q4 2017 earnings at $0.21 EPS, FY2017 earnings at $0.76 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.23 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.24 EPS and FY2018 earnings at $0.91 EPS.
Other equities research analysts have also issued research reports about the stock. Sidoti lifted their target price on shares of UMH Properties from $18.00 to $21.00 and gave the company a buy rating in a research note on Thursday, May 25th. Wunderlich lifted their target price on shares of UMH Properties from $16.00 to $18.00 and gave the company a buy rating in a research note on Thursday, May 11th. Finally, BidaskClub downgraded shares of UMH Properties from a buy rating to a hold rating in a report on Saturday, July 8th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $19.17.
UMH Properties (UMH) traded down 2.47% during midday trading on Tuesday, hitting $16.17. The company had a trading volume of 118,481 shares. The stock’s 50-day moving average price is $16.91 and its 200-day moving average price is $15.77. The stock’s market cap is $505.78 million. UMH Properties has a 52-week low of $11.28 and a 52-week high of $17.90.
UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by $0.03. UMH Properties had a return on equity of 0.76% and a net margin of 1.02%. The firm had revenue of $26.45 million during the quarter. On average, equities research analysts expect that UMH Properties will post ($0.12) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.45%. UMH Properties’s dividend payout ratio is currently -799.91%.
In other news, Director James E. Mitchell bought 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were purchased at an average price of $25.00 per share, for a total transaction of $75,000.00. Following the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $75,000. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 4,326 shares of company stock worth $96,012 in the last quarter. Insiders own 11.61% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in UMH. Creative Planning increased its position in shares of UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares during the period. Bank of Montreal Can increased its position in shares of UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares during the period. Aperio Group LLC raised its stake in UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares in the last quarter. Virginia Retirement Systems ET AL bought a new stake in UMH Properties during the second quarter valued at about $211,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in UMH Properties by 0.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,048 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 45.54% of the company’s stock.
UMH Properties Company Profile
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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