Cantor Fitzgerald Initiates Coverage on UMH Properties (NYSE:UMH)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of UMH Properties (NYSE:UMH) in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $15.00 price target on the real estate investment trust’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 2.97% from the stock’s current price.

A number of other brokerages have also recently weighed in on UMH. Wall Street Zen cut UMH Properties from a “hold” rating to a “sell” rating in a report on Friday, July 18th. Wedbush raised UMH Properties to a “hold” rating in a report on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.50.

UMH Properties Stock Performance

NYSE:UMH opened at $14.57 on Wednesday. The business’s 50-day moving average price is $15.60 and its two-hundred day moving average price is $16.67. UMH Properties has a twelve month low of $14.37 and a twelve month high of $20.42. The stock has a market cap of $1.24 billion, a P/E ratio of 104.05, a PEG ratio of 2.57 and a beta of 1.05. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08.

UMH Properties (NYSE:UMH) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The business had revenue of $66.64 million during the quarter, compared to analysts’ expectations of $66.07 million. As a group, equities analysts predict that UMH Properties will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling

In other UMH Properties news, CEO Samuel A. Landy sold 45,700 shares of UMH Properties stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $16.40, for a total value of $749,480.00. Following the transaction, the chief executive officer directly owned 1,101,283 shares of the company’s stock, valued at $18,061,041.20. The trade was a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael P. Landy purchased 10,000 shares of the firm’s stock in a transaction on Monday, September 29th. The stock was bought at an average cost of $14.46 per share, for a total transaction of $144,600.00. Following the completion of the purchase, the director directly owned 362,052 shares in the company, valued at approximately $5,235,271.92. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 155,249 shares of company stock valued at $2,491,728 over the last quarter. Company insiders own 8.77% of the company’s stock.

Hedge Funds Weigh In On UMH Properties

A number of large investors have recently bought and sold shares of UMH. KBC Group NV bought a new stake in shares of UMH Properties in the 1st quarter worth approximately $32,000. Stone House Investment Management LLC bought a new stake in shares of UMH Properties in the 1st quarter worth approximately $34,000. Summit Securities Group LLC bought a new stake in shares of UMH Properties in the 1st quarter worth approximately $35,000. Cloud Capital Management LLC bought a new stake in shares of UMH Properties in the 1st quarter worth approximately $37,000. Finally, Quantbot Technologies LP bought a new stake in shares of UMH Properties in the 2nd quarter worth approximately $52,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

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.