UMH Properties (NYSE:UMH) Sets New 12-Month High at $18.64

UMH Properties, Inc. (NYSE:UMH) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.64 and last traded at $18.59, with a volume of 68999 shares changing hands. The stock had previously closed at $18.12.

Analysts Set New Price Targets

Several research analysts have issued reports on UMH shares. Wedbush reaffirmed a “neutral” rating and issued a $17.00 price target on shares of UMH Properties in a report on Monday, May 13th. B. Riley reissued a “buy” rating and set a $18.50 target price on shares of UMH Properties in a research note on Thursday, May 30th. Alliance Global Partners initiated coverage on shares of UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 target price on the stock. StockNews.com downgraded shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Monday. Finally, William Blair restated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, UMH Properties presently has an average rating of “Hold” and an average price target of $19.50.

UMH Properties Price Performance

The company has a debt-to-equity ratio of 1.59, a current ratio of 6.82 and a quick ratio of 6.82. The company’s 50 day moving average price is $16.27 and its 200 day moving average price is $15.77. The firm has a market capitalization of $1.34 billion, a P/E ratio of -125.73, a PEG ratio of 3.36 and a beta of 1.29.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a $0.215 dividend. The ex-dividend date is Thursday, August 15th. This represents a $0.86 annualized dividend and a yield of 4.53%. UMH Properties’s dividend payout ratio (DPR) is presently -573.33%.

Insider Activity at UMH Properties

In other news, Director Michael P. Landy bought 4,700 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was bought at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the transaction, the director now owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Michael P. Landy bought 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samuel A. Landy sold 25,000 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the transaction, the chief executive officer now owns 1,149,565 shares in the company, valued at approximately $17,254,970.65. The disclosure for this sale can be found here. 8.63% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of UMH. Vanguard Group Inc. raised its holdings in UMH Properties by 10.6% during the fourth quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock worth $100,212,000 after buying an additional 629,427 shares during the last quarter. Kennedy Capital Management LLC raised its holdings in UMH Properties by 245.9% during the 1st quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust’s stock valued at $10,789,000 after acquiring an additional 472,307 shares during the period. Private Management Group Inc. boosted its holdings in shares of UMH Properties by 27.1% in the fourth quarter. Private Management Group Inc. now owns 1,316,789 shares of the real estate investment trust’s stock worth $20,173,000 after acquiring an additional 280,436 shares during the period. Cerity Partners LLC purchased a new stake in UMH Properties during the 4th quarter worth about $2,930,000. Finally, Raymond James & Associates lifted its holdings in UMH Properties by 24.1% during the 1st quarter. Raymond James & Associates now owns 825,371 shares of the real estate investment trust’s stock worth $13,404,000 after purchasing an additional 160,503 shares in the last quarter. Institutional investors and hedge funds 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.