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 published on Saturday.

Several other research analysts also recently commented on UMH. Wedbush reiterated a neutral rating and set a $17.00 target price on shares of UMH Properties in a research note on Monday, March 25th. Compass Point lifted their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, B. Riley started coverage on shares of UMH Properties in a research report on Thursday, March 21st. They issued a buy rating and a $18.50 price objective on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $19.00.

UMH Properties Stock Performance

UMH Properties stock opened at $15.93 on Friday. The stock has a 50-day simple moving average of $15.62 and a 200 day simple moving average of $15.05. The stock has a market capitalization of $1.10 billion, a P/E ratio of -106.16, a PEG ratio of 2.81 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85.

UMH Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 5.40%. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, May 14th. UMH Properties’s dividend payout ratio is currently -546.63%.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the completion of the sale, the chief operating officer now owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On UMH Properties

A number of large investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. lifted its position in shares of UMH Properties by 382.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,711 shares during the period. Spire Wealth Management lifted its position in UMH Properties by 177.8% during the third quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 2,125 shares during the period. Quadrant Capital Group LLC lifted its position in UMH Properties by 52.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,856 shares during the period. International Assets Investment Management LLC grew its stake in UMH Properties by 1,440.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 7,391 shares in the last quarter. Finally, New York Life Investment Management LLC bought a new position in UMH Properties in the 4th quarter valued at about $156,000. Institutional investors and hedge funds 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.