BidaskClub Downgrades UMH Properties, Inc. (UMH) to Sell
BidaskClub cut shares of UMH Properties, Inc. (NYSE:UMH) from a hold rating to a sell rating in a research note published on Thursday.
UMH has been the topic of a number of other reports. FBR & Co reissued an outperform rating and set a $18.50 target price on shares of UMH Properties in a report on Tuesday, July 11th. Wunderlich increased their target price on shares of UMH Properties from $16.00 to $18.00 and gave the stock a buy rating in a report on Thursday, May 11th. ValuEngine cut shares of UMH Properties from a buy rating to a hold rating in a report on Thursday, July 13th. Finally, Sidoti increased their target price on shares of UMH Properties from $18.00 to $21.00 and gave the stock a buy rating in a report on Thursday, May 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $19.17.
UMH Properties (UMH) traded down 1.03% on Thursday, reaching $16.41. 5,585 shares of the company’s stock were exchanged. The firm’s market capitalization is $513.29 million. The stock’s 50 day moving average price is $16.96 and its 200 day moving average price is $15.72. UMH Properties has a 1-year low of $11.28 and a 1-year high of $17.90.
UMH Properties (NYSE:UMH) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $26.45 million for the quarter. UMH Properties had a return on equity of 0.46% and a net margin of 0.59%. On average, analysts expect that UMH Properties will post ($0.11) earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 4.34%. UMH Properties’s dividend payout ratio (DPR) is presently -720.00%.
In other news, Director James E. Mitchell acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were acquired at an average price of $25.00 per share, with a total value of $75,000.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at $75,000. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders purchased 4,326 shares of company stock worth $96,012. Corporate insiders own 11.61% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Creative Planning boosted its stake in UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 4,200 shares during the period. Bank of Montreal Can boosted its stake in UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 9,221 shares during the period. Aperio Group LLC boosted its stake in UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 617 shares during the period. Russell Investments Group Ltd. purchased a new stake in UMH Properties during the second quarter worth $904,000. Finally, State of New Jersey Common Pension Fund D boosted its stake in UMH Properties by 3.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 317,000 shares of the real estate investment trust’s stock worth $5,405,000 after buying an additional 10,000 shares during the period. 45.53% of the stock is currently owned by institutional investors and hedge funds.
UMH Properties Company Profile
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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