UMH PROPERTIES/SH SH (UMH) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of UMH PROPERTIES/SH SH (NYSE:UMH) from a buy rating to a hold rating in a report released on Thursday.
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. “
Separately, Boenning Scattergood reaffirmed a buy rating and set a $19.50 price objective on shares of UMH PROPERTIES/SH SH in a research report on Monday, March 11th.
UMH PROPERTIES/SH SH (NYSE:UMH) last posted its quarterly earnings data on Thursday, March 7th. The real estate investment trust reported ($0.87) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.83). The company had revenue of $34.25 million for the quarter, compared to analysts’ expectations of $33.35 million. UMH PROPERTIES/SH SH had a negative return on equity of 35.79% and a negative net margin of 43.63%. As a group, equities analysts forecast that UMH PROPERTIES/SH SH will post 0.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 15th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, February 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.31%. UMH PROPERTIES/SH SH’s payout ratio is currently 97.30%.
In related news, insider Umh Properties, Inc. acquired 11,958 shares of the stock in a transaction that occurred on Monday, December 17th. The stock was purchased at an average price of $13.72 per share, with a total value of $164,063.76. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 12,124 shares of company stock valued at $166,066 in the last ninety days. 10.89% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc lifted its holdings in UMH PROPERTIES/SH SH by 11.7% during the 3rd quarter. Vanguard Group Inc now owns 3,459,170 shares of the real estate investment trust’s stock worth $54,101,000 after buying an additional 361,864 shares in the last quarter. BlackRock Inc. lifted its holdings in UMH PROPERTIES/SH SH by 1.6% during the 3rd quarter. BlackRock Inc. now owns 2,517,828 shares of the real estate investment trust’s stock worth $39,378,000 after buying an additional 40,253 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in UMH PROPERTIES/SH SH by 14.4% during the 4th quarter. D.A. Davidson & CO. now owns 534,840 shares of the real estate investment trust’s stock worth $6,333,000 after buying an additional 67,469 shares in the last quarter. Vanguard Group Inc. lifted its holdings in UMH PROPERTIES/SH SH by 11.7% during the 3rd quarter. Vanguard Group Inc. now owns 3,459,170 shares of the real estate investment trust’s stock worth $54,101,000 after buying an additional 361,864 shares in the last quarter. Finally, Montag & Caldwell LLC acquired a new stake in UMH PROPERTIES/SH SH during the 4th quarter worth approximately $189,000. 58.23% of the stock is owned by hedge funds and other institutional investors.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 115 manufactured home communities containing approximately 20,700 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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