Zacks Investment Research upgraded shares of UMH Properties (NYSE:UMH) from a sell rating to a hold rating in a research report sent to investors on Friday.

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, B. Riley reiterated a buy rating and set a $17.50 price target on shares of UMH Properties in a report on Tuesday, November 21st. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $18.50.

Shares of UMH Properties (NYSE UMH) opened at $13.98 on Friday. The stock has a market capitalization of $488.28, a price-to-earnings ratio of -63.55, a PEG ratio of 1.58 and a beta of 0.61. The company has a current ratio of 4.46, a quick ratio of 4.46 and a debt-to-equity ratio of 1.98. UMH Properties has a 52-week low of $13.65 and a 52-week high of $17.90.

UMH Properties (NYSE:UMH) last announced its earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.34). The company had revenue of $28.69 million for the quarter, compared to analyst estimates of $28.79 million. UMH Properties had a return on equity of 0.74% and a net margin of 1.05%. The firm’s revenue for the quarter was up 13.1% on a year-over-year basis. During the same period last year, the firm earned ($0.02) earnings per share. research analysts anticipate that UMH Properties will post 0.73 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of UMH. Schwab Charles Investment Management Inc. grew its holdings in shares of UMH Properties by 108.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 210,748 shares of the real estate investment trust’s stock valued at $3,594,000 after buying an additional 109,803 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of UMH Properties by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 286,226 shares of the real estate investment trust’s stock valued at $4,881,000 after buying an additional 61,719 shares in the last quarter. Swiss National Bank purchased a new position in shares of UMH Properties during the second quarter valued at $769,000. JPMorgan Chase & Co. grew its holdings in shares of UMH Properties by 42.8% during the second quarter. JPMorgan Chase & Co. now owns 178,469 shares of the real estate investment trust’s stock valued at $3,043,000 after buying an additional 53,511 shares in the last quarter. Finally, AJO LP grew its holdings in shares of 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 buying an additional 355,553 shares in the last quarter. Institutional investors and hedge funds own 54.93% of the company’s stock.

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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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Analyst Recommendations for UMH Properties (NYSE:UMH)

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