UMH Properties, Inc. (NYSE:UMH) Receives Consensus Rating of “Moderate Buy” from Analysts

UMH Properties, Inc. (NYSE:UMH) has been assigned an average rating of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $21.25.

Several research firms have issued reports on UMH. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of UMH Properties in a research note on Monday, January 13th. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th.

Insider Activity at UMH Properties

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMH Properties

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue raised its position in shares of UMH Properties by 2.2% during the third quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 663 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in UMH Properties by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 698 shares during the last quarter. Centiva Capital LP raised its position in UMH Properties by 4.0% in the 3rd quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust’s stock valued at $618,000 after buying an additional 1,195 shares during the last quarter. Corebridge Financial Inc. raised its position in UMH Properties by 3.7% in the 4th quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust’s stock valued at $679,000 after buying an additional 1,286 shares during the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new stake in UMH Properties in the 3rd quarter valued at approximately $26,000. Institutional investors own 75.40% of the company’s stock.

UMH Properties Stock Performance

Shares of NYSE UMH opened at $18.21 on Wednesday. The business has a fifty day simple moving average of $18.58 and a 200 day simple moving average of $18.96. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 3.02 and a beta of 1.28. UMH Properties has a one year low of $14.09 and a one year high of $20.64.

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be paid a $0.215 dividend. The ex-dividend date is Tuesday, February 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.72%. UMH Properties’s dividend payout ratio (DPR) is presently 661.59%.

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.