UMH Properties (NYSE:UMH) Rating Increased to Buy at Zacks Investment Research

UMH Properties (NYSE:UMHGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Zacks.com reports. The brokerage presently has a $24.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.63% from the stock’s previous close.

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. “

Several other research analysts have also recently weighed in on UMH. Colliers Securities initiated coverage on shares of UMH Properties in a report on Wednesday, January 19th. They set a “neutral” rating and a $26.00 price objective for the company. StockNews.com initiated coverage on shares of UMH Properties in a report on Thursday, March 31st. They set a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $26.50.

UMH opened at $21.50 on Friday. The company’s 50-day simple moving average is $24.05 and its two-hundred day simple moving average is $24.11. The company has a debt-to-equity ratio of 1.78, a quick ratio of 8.00 and a current ratio of 8.00. The stock has a market capitalization of $1.12 billion, a P/E ratio of 113.16, a P/E/G ratio of 4.72 and a beta of 1.14. UMH Properties has a 52-week low of $20.29 and a 52-week high of $27.50.

UMH Properties (NYSE:UMHGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported ($0.09) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.30). UMH Properties had a net margin of 21.44% and a return on equity of 17.93%. During the same quarter in the previous year, the firm earned $0.20 EPS. Research analysts forecast that UMH Properties will post 0.98 EPS for the current fiscal year.

In other UMH Properties news, Director Steven B. Wolgin sold 2,750 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $24.40, for a total value of $67,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven B. Wolgin sold 4,285 shares of the company’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $23.09, for a total transaction of $98,940.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 1,132 shares of company stock valued at $26,767 and have sold 8,710 shares valued at $206,663. 10.95% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of UMH. Whittier Trust Co. bought a new position in shares of UMH Properties during the first quarter worth $37,000. Palisade Capital Management LLC NJ bought a new position in shares of UMH Properties during the fourth quarter worth $205,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of UMH Properties by 97.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,509 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 3,703 shares during the last quarter. Vert Asset Management LLC bought a new position in shares of UMH Properties during the fourth quarter worth $225,000. Finally, Comerica Bank bought a new position in shares of UMH Properties during the third quarter worth $208,000. Institutional investors and hedge funds own 69.02% of the company’s stock.

About UMH Properties (Get Rating)

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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