UMH Properties, Inc. (NYSE:UMH) Receives $18.50 Consensus PT from Brokerages

Shares of UMH Properties, Inc. (NYSE:UMH) have been assigned a consensus recommendation of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $18.50.

A number of equities analysts recently issued reports on UMH shares. Cantor Fitzgerald started coverage on UMH Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of UMH Properties in a research report on Wednesday, October 8th. Finally, B. Riley decreased their price target on UMH Properties from $19.00 to $18.50 and set a “buy” rating for the company in a research note on Monday.

Insider Buying and Selling at UMH Properties

In related news, Director Michael P. Landy purchased 10,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were bought at an average cost of $14.46 per share, for a total transaction of $144,600.00. Following the transaction, the director owned 362,052 shares of the company’s stock, valued at $5,235,271.92. This represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director William Edward Mitchell purchased 2,000 shares of UMH Properties stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $14.92 per share, with a total value of $29,840.00. Following the completion of the purchase, the director owned 28,737 shares in the company, valued at approximately $428,756.04. This trade represents a 7.48% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 12,743 shares of company stock valued at $184,937 and have sold 54,100 shares valued at $792,496. 8.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On UMH Properties

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nuveen LLC bought a new stake in shares of UMH Properties in the 1st quarter worth $19,209,000. Alliancebernstein L.P. boosted its stake in UMH Properties by 1,091.0% during the first quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust’s stock valued at $16,759,000 after buying an additional 820,934 shares in the last quarter. Private Management Group Inc. grew its holdings in UMH Properties by 37.9% during the third quarter. Private Management Group Inc. now owns 1,680,180 shares of the real estate investment trust’s stock worth $24,951,000 after acquiring an additional 461,463 shares during the period. Strs Ohio raised its position in UMH Properties by 3,361.8% in the second quarter. Strs Ohio now owns 470,800 shares of the real estate investment trust’s stock worth $7,905,000 after acquiring an additional 457,200 shares in the last quarter. Finally, Citigroup Inc. raised its position in UMH Properties by 141.8% in the third quarter. Citigroup Inc. now owns 760,243 shares of the real estate investment trust’s stock worth $11,290,000 after acquiring an additional 445,834 shares in the last quarter. 75.40% of the stock is owned by institutional investors.

UMH Properties Stock Down 2.4%

UMH stock opened at $14.89 on Friday. The stock has a market cap of $1.27 billion, a PE ratio of 106.32, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The firm’s 50-day simple moving average is $14.70 and its 200 day simple moving average is $15.86. UMH Properties has a fifty-two week low of $13.95 and a fifty-two week high of $20.03. 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 posted its earnings results on Monday, November 3rd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.25. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The firm had revenue of $66.92 million during the quarter, compared to analyst estimates of $68.70 million. As a group, sell-side analysts predict that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be given a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Monday, November 17th. UMH Properties’s dividend payout ratio is currently 1,125.00%.

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.