UMH Properties, Inc. (UMH) Downgraded by Zacks Investment Research
Zacks Investment Research lowered shares of UMH Properties, Inc. (NYSE:UMH) from a hold rating to a sell rating in a research note issued to investors on Thursday morning.
According to Zacks, “United Mobile Home’s primary business is the ownership and operation of manufactured home communities – leasing manufactured home spaces on a month-to-month basis to private manufactured home owners. The company also leases homes to residents. A manufactured home community is designed to accommodate detached, single family manufactured housing units, which are produced off-site by manufacturers and delivered by truck to the site. “
UMH has been the subject of several other research reports. BidaskClub raised shares of UMH Properties from a sell rating to a hold rating in a research report on Wednesday, August 2nd. DA Davidson initiated coverage on shares of UMH Properties in a research report on Friday, September 1st. They issued a buy rating and a $18.00 price target for the company. Janney Montgomery Scott initiated coverage on shares of UMH Properties in a research report on Friday, September 8th. They issued a buy rating for the company. ValuEngine cut shares of UMH Properties from a buy rating to a hold rating in a research report on Thursday, July 13th. Finally, B. Riley reaffirmed a buy rating on shares of UMH Properties in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. UMH Properties presently has a consensus rating of Buy and a consensus target price of $18.70.
Shares of UMH Properties (NYSE UMH) traded down $0.12 during mid-day trading on Thursday, reaching $15.23. 103,500 shares of the company’s stock were exchanged, compared to its average volume of 96,398. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.46 and a quick ratio of 4.46. The company has a market cap of $531.94, a P/E ratio of 22.07, a P/E/G ratio of 2.09 and a beta of 0.60. UMH Properties has a twelve month low of $12.18 and a twelve month high of $17.90.
UMH Properties (NYSE:UMH) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.34). The company had revenue of $28.69 million during the quarter, compared to the consensus estimate of $28.79 million. UMH Properties had a return on equity of 0.74% and a net margin of 1.05%. UMH Properties’s revenue was up 13.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. analysts expect that UMH Properties will post 0.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be given a $0.18 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $0.72 annualized dividend and a dividend yield of 4.73%. UMH Properties’s payout ratio is presently -327.26%.
Several institutional investors and hedge funds have recently made changes to their positions in UMH. Vanguard Group Inc. lifted its position in shares of UMH Properties by 202.9% in the 2nd quarter. Vanguard Group Inc. now owns 3,347,292 shares of the real estate investment trust’s stock worth $57,071,000 after purchasing an additional 2,242,115 shares during the period. AJO LP lifted its position in UMH Properties by 2,614.7% during the second quarter. AJO LP now owns 369,151 shares of the real estate investment trust’s stock valued at $6,294,000 after acquiring an additional 355,553 shares during the last quarter. EAM Investors LLC purchased a new stake in UMH Properties during the second quarter valued at approximately $2,749,000. JPMorgan Chase & Co. lifted its position in UMH Properties by 74.6% during the third quarter. JPMorgan Chase & Co. now owns 311,558 shares of the real estate investment trust’s stock valued at $4,832,000 after acquiring an additional 133,089 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new stake in UMH Properties during the third quarter valued at approximately $1,737,000. 54.78% of the stock is owned by hedge funds and other institutional investors.
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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