UMH Properties, Inc. (NYSE:UMH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $18.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 13.14% from the company’s current price.

According to Zacks, “United Mobile Home’s primary business is the ownership and operation of manufactured home communities – leasing manufactured home spaces on a month-to-month basis to private manufactured home owners. The company also leases homes to residents. A manufactured home community is designed to accommodate detached, single family manufactured housing units, which are produced off-site by manufacturers and delivered by truck to the site. “

Other equities research analysts also recently issued research reports about the company. Sidoti lifted their target price on UMH Properties from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 25th. Janney Montgomery Scott started coverage on UMH Properties in a research report on Friday, September 8th. They issued a “buy” rating on the stock. DA Davidson started coverage on UMH Properties in a research report on Friday, September 1st. They issued a “buy” rating and a $18.00 target price on the stock. BidaskClub upgraded UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, ValuEngine downgraded UMH Properties from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $18.70.

UMH Properties (UMH) opened at 15.91 on Thursday. The company’s market cap is $539.27 million. UMH Properties has a 52-week low of $11.28 and a 52-week high of $17.90. The stock’s 50 day moving average price is $15.90 and its 200-day moving average price is $16.01.

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In other news, Director James E. Mitchell acquired 3,000 shares of the business’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 owns 3,000 shares of the company’s stock, valued at $75,000. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased a total of 3,698 shares of company stock worth $85,999 in the last quarter. Company insiders own 11.61% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of UMH Properties by 202.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,347,292 shares of the real estate investment trust’s stock valued at $57,071,000 after buying an additional 2,242,115 shares during the period. Boulegeris Investments Inc. raised its holdings in shares of UMH Properties by 1.7% in the 2nd quarter. Boulegeris Investments Inc. now owns 1,763,283 shares of the real estate investment trust’s stock valued at $30,064,000 after buying an additional 28,896 shares during the period. State Street Corp raised its holdings in shares of UMH Properties by 12.7% in the 2nd quarter. State Street Corp now owns 548,075 shares of the real estate investment trust’s stock valued at $9,340,000 after buying an additional 61,704 shares during the period. Robotti Robert raised its holdings in shares of UMH Properties by 1.2% in the 2nd quarter. Robotti Robert now owns 515,814 shares of the real estate investment trust’s stock valued at $8,541,000 after buying an additional 6,175 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of UMH Properties by 24.2% in the 2nd quarter. Northern Trust Corp now owns 388,174 shares of the real estate investment trust’s stock valued at $6,618,000 after buying an additional 75,670 shares during the period. Hedge funds and other institutional investors own 53.99% 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.

Analyst Recommendations for UMH Properties (NYSE:UMH)

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