UMH Properties (NYSE:UMH) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a report issued on Tuesday morning.

Other equities research analysts have also issued research reports about the company. B. Riley assumed coverage on UMH Properties in a research note on Thursday, March 21st. They set a buy rating and a $18.50 price target on the stock. Wedbush restated a neutral rating and set a $17.00 price target on shares of UMH Properties in a research note on Monday, March 25th. Finally, Compass Point boosted their price target on UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $19.00.

UMH Properties Price Performance

Shares of UMH stock opened at $15.38 on Tuesday. UMH Properties has a fifty-two week low of $13.26 and a fifty-two week high of $16.85. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -102.50, a PEG ratio of 2.72 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52. The stock’s 50-day simple moving average is $15.48 and its 200-day simple moving average is $14.96.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 dividend on an annualized basis and a yield of 5.59%. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio is currently -573.33%.

Insider Activity at UMH Properties

In related news, COO Brett Taft sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the sale, the chief operating officer now owns 97,049 shares in the company, valued at $1,544,049.59. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.63% of the stock is owned by insiders.

Institutional Investors Weigh In On UMH Properties

Several hedge funds have recently bought and sold shares of UMH. SRS Capital Advisors Inc. boosted its position in UMH Properties by 382.8% in the 4th quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,711 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of UMH Properties by 54.9% during the 3rd quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 856 shares during the period. Spire Wealth Management raised its stake in shares of UMH Properties by 177.8% during the 3rd quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 2,125 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of UMH Properties during the 1st quarter worth approximately $58,000. Finally, Quantbot Technologies LP raised its stake in shares of UMH Properties by 1,600.0% during the 2nd quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 3,200 shares during the period. Hedge funds and other institutional investors own 75.40% of the company’s stock.

About UMH Properties

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.