UMH Properties (NYSE:UMH) Receives “Neutral” Rating from Wedbush

Wedbush reaffirmed their neutral rating on shares of UMH Properties (NYSE:UMH) in a research note published on Monday morning,Benzinga reports. Wedbush currently has a $20.00 target price on the real estate investment trust’s stock.

Separately, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

UMH Properties Stock Up 1.4 %

Shares of NYSE UMH opened at $17.84 on Monday. The firm has a 50 day moving average price of $19.05 and a 200 day moving average price of $18.78. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The stock has a market cap of $1.41 billion, a P/E ratio of 137.24, a P/E/G ratio of 3.47 and a beta of 1.29. UMH Properties has a 52-week low of $14.09 and a 52-week high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The firm had revenue of $60.67 million for the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same quarter in the previous year, the business posted $0.22 earnings per share. Analysts expect that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th will be given a $0.215 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.86 annualized dividend and a yield of 4.82%. UMH Properties’s dividend payout ratio is currently 661.54%.

Insider Buying and Selling

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the sale, the director now directly owns 7,993 shares of the company’s stock, valued at $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the transaction, the chief executive officer now owns 1,104,826 shares in the company, valued at $21,599,348.30. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,845 shares of company stock worth $1,051,210. Insiders own 8.63% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its stake in shares of UMH Properties by 44.5% during the third quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock valued at $55,127,000 after purchasing an additional 863,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of UMH Properties by 476.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,874 shares of the real estate investment trust’s stock valued at $6,607,000 after acquiring an additional 277,590 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of UMH Properties during the 3rd quarter valued at $4,421,000. Brookfield Corp ON bought a new position in shares of UMH Properties in the 3rd quarter worth approximately $4,331,000. Finally, Eagle Asset Management Inc. bought a new position in UMH Properties in the third quarter worth approximately $3,513,000. 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.