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 research report sent to investors on Saturday morning.

Several other analysts also recently issued reports on the company. Wedbush restated a neutral rating and set a $17.00 price objective on shares of UMH Properties in a research report on Monday, March 25th. B. Riley initiated coverage on shares of UMH Properties in a report on Thursday, March 21st. They set a buy rating and a $18.50 price target for the company. Finally, Compass Point increased their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, UMH Properties has an average rating of Hold and an average target price of $19.00.

UMH Properties Trading Up 1.7 %

UMH Properties stock opened at $15.93 on Friday. UMH Properties has a 1 year low of $13.26 and a 1 year high of $16.85. The firm’s 50-day moving average is $15.62 and its 200-day moving average is $15.05. 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 company has a market cap of $1.10 billion, a P/E ratio of -106.19, a PEG ratio of 2.81 and a beta of 1.24.

UMH Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be paid a dividend of $0.215 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.86 annualized dividend and a yield of 5.40%. This is an increase from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s payout ratio is presently -546.63%.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total transaction of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UMH. Cerity Partners LLC bought a new position in UMH Properties during the 4th quarter valued at $2,930,000. Mutual of America Capital Management LLC acquired a new position in UMH Properties during the fourth quarter worth about $1,377,000. Knights of Columbus Asset Advisors LLC raised its position in UMH Properties by 102.9% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 244,569 shares of the real estate investment trust’s stock worth $3,747,000 after acquiring an additional 124,019 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in UMH Properties by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 657,676 shares of the real estate investment trust’s stock valued at $9,221,000 after acquiring an additional 37,909 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of UMH Properties by 21.4% during the 3rd quarter. Invesco Ltd. now owns 625,464 shares of the real estate investment trust’s stock valued at $8,769,000 after purchasing an additional 110,276 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors.

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.