UMH Properties (NYSE:UMH) Upgraded at StockNews.com

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

Several other equities research analysts have also commented on the company. B. Riley began 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. Compass Point lifted their price objective on UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a report on Thursday, March 21st. Finally, Wedbush reissued a neutral rating and issued a $17.00 target price on shares of UMH Properties in a report on Monday, March 25th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $19.00.

UMH Properties Stock Down 0.8 %

Shares of NYSE UMH opened at $15.21 on Tuesday. The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -101.36, a price-to-earnings-growth ratio of 2.77 and a beta of 1.24. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85. The firm has a 50-day moving average price of $15.45 and a 200 day moving average price of $14.94. The company has a quick ratio of 6.52, a current ratio of 6.52 and a debt-to-equity ratio of 1.66.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.66%. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, May 14th. UMH Properties’s dividend payout ratio (DPR) is -546.63%.

Insider Activity at UMH Properties

In other UMH Properties news, COO Brett Taft sold 9,800 shares of the 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 sale, the chief operating officer now owns 97,049 shares in the company, valued at approximately $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 corporate insiders.

Institutional Trading of UMH Properties

A number of hedge funds have recently bought and sold shares of the company. SRS Capital Advisors Inc. raised its holdings 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 valued at $33,000 after acquiring an additional 1,711 shares during the last quarter. Federated Hermes Inc. grew its position in shares of UMH Properties by 54.9% in the third quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 856 shares during the period. Spire Wealth Management increased its stake in UMH Properties by 177.8% in the third quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 2,125 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in UMH Properties during the first quarter worth about $58,000. Finally, Quantbot Technologies LP boosted its stake in UMH Properties by 1,600.0% in 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 last quarter. Institutional investors and hedge funds 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.