UMH Properties (NYSE:UMH) Upgraded at StockNews.com

StockNews.com upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Other analysts have also issued reports about the stock. B. Riley began coverage on shares of UMH Properties in a research report on Thursday, March 21st. They issued a buy rating and a $18.50 price target on the stock. Wedbush reiterated a neutral rating and issued a $17.00 price target on shares of UMH Properties in a research report on Monday, March 25th. Finally, Compass Point increased their price target on shares of UMH Properties from $20.00 to $21.50 and gave the company a buy rating in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $19.00.

UMH Properties Trading Up 0.9 %

Shares of UMH opened at $15.38 on Tuesday. The firm’s 50-day moving average is $15.48 and its two-hundred day moving average is $14.96. The firm has a market capitalization of $1.07 billion, a P/E ratio of -102.50, a PEG ratio of 2.72 and a beta of 1.24. UMH Properties has a twelve month low of $13.26 and a twelve month high of $16.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be given a dividend of $0.215 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.86 dividend on an annualized basis and a yield of 5.59%. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio (DPR) is -573.33%.

Insider Buying and Selling

In related news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total transaction of $155,918.00. Following the sale, the chief operating officer now owns 97,049 shares in the company, valued at $1,544,049.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMH Properties

A number of large investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue raised its stake in UMH Properties by 2.4% during the first quarter. State of Alaska Department of Revenue now owns 28,798 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 668 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of UMH Properties by 3.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 69,952 shares of the real estate investment trust’s stock valued at $1,136,000 after acquiring an additional 2,058 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of UMH Properties by 7.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,615 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 1,090 shares during the period. Pensionfund Sabic raised its stake in shares of UMH Properties by 11.3% in the 1st quarter. Pensionfund Sabic now owns 29,564 shares of the real estate investment trust’s stock valued at $480,000 after acquiring an additional 3,000 shares during the period. Finally, Pensionfund DSM Netherlands raised its stake in shares of UMH Properties by 5.5% in the 1st quarter. Pensionfund DSM Netherlands now owns 57,900 shares of the real estate investment trust’s stock valued at $940,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 75.40% of the company’s stock.

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.