UMH Properties (NYSE:UMH) Price Target Cut to $20.50 by Analysts at Maxim Group

UMH Properties (NYSE:UMH) had its price target reduced by Maxim Group from $22.00 to $20.50 in a report published on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

Several other research analysts also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of UMH Properties in a research report on Monday, January 13th. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

UMH Properties Price Performance

Shares of UMH Properties stock opened at $17.32 on Monday. The firm has a fifty day moving average price of $17.87 and a two-hundred day moving average price of $18.39. UMH Properties has a fifty-two week low of $14.73 and a fifty-two week high of $20.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The company has a market cap of $1.43 billion, a PE ratio of 133.25, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The firm had revenue of $61.23 million for the quarter, compared to the consensus estimate of $62.82 million. Analysts expect that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Thursday, May 15th. This is a boost from UMH Properties’s previous quarterly dividend of $0.22. UMH Properties’s payout ratio is presently 3,000.00%.

Institutional Investors Weigh In On UMH Properties

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its stake in shares of UMH Properties by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust’s stock valued at $883,000 after purchasing an additional 918 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in UMH Properties by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 22,380 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 1,065 shares in the last quarter. Corebridge Financial Inc. grew its position in UMH Properties by 3.7% in the fourth quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 1,286 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in UMH Properties in the fourth quarter valued at about $26,000. Finally, Principal Financial Group Inc. raised its stake in UMH Properties by 3.6% during the first quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust’s stock worth $726,000 after acquiring an additional 1,362 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.

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.