Alliance Global Partners Initiates Coverage on UMH Properties (NYSE:UMH)

Equities research analysts at Alliance Global Partners initiated coverage on shares of UMH Properties (NYSE:UMH) in a research note issued to investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $21.00 price target on the real estate investment trust’s stock. Alliance Global Partners’ price objective would indicate a potential upside of 20.21% from the stock’s previous close.

A number of other equities analysts also recently weighed in on UMH. Wedbush reaffirmed a “neutral” rating and issued a $17.00 target price on shares of UMH Properties in a research note on Monday, May 13th. Compass Point lifted their price target 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. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Wednesday. B. Riley restated a “buy” rating and set a $18.50 price objective on shares of UMH Properties in a report on Thursday, May 30th. Finally, William Blair restated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.50.

UMH Properties Trading Down 1.0 %

Shares of NYSE UMH opened at $17.47 on Thursday. UMH Properties has a 1-year low of $13.26 and a 1-year high of $17.70. The company has a market cap of $1.23 billion, a PE ratio of -116.46, a P/E/G ratio of 3.23 and a beta of 1.29. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.59. The company has a 50-day moving average of $15.75 and a two-hundred day moving average of $15.54.

Insider Buying and Selling at UMH Properties

In related news, Director Michael P. Landy acquired 4,700 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were bought at an average cost of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Michael P. Landy acquired 4,700 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were bought at an average cost of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Samuel A. Landy sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total transaction of $375,250.00. Following the transaction, the chief executive officer now directly owns 1,149,565 shares in the company, valued at $17,254,970.65. The disclosure for this sale can be found here. Corporate insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On UMH Properties

A number of hedge funds have recently made changes to their positions in UMH. Cerity Partners LLC acquired a new stake in UMH Properties during the 4th quarter worth approximately $2,930,000. Mutual of America Capital Management LLC bought a new stake in shares of UMH Properties in the 4th quarter valued at $1,377,000. Vanguard Group Inc. increased its stake in shares of UMH Properties by 10.6% in the 4th quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock valued at $100,212,000 after acquiring an additional 629,427 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in shares of UMH Properties in the 4th quarter valued at $1,819,000. Finally, Knights of Columbus Asset Advisors LLC increased its stake in UMH Properties by 102.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 244,569 shares of the real estate investment trust’s stock valued at $3,747,000 after purchasing an additional 124,019 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

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.