Short Interest in UMH Properties, Inc. (NYSE:UMH) Declines By 28.4%

UMH Properties, Inc. (NYSE:UMH - Get Free Report) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 1,110,000 shares, a drop of 28.4% from the March 31st total of 1,550,000 shares. Based on an average daily volume of 388,800 shares, the days-to-cover ratio is currently 2.9 days. Currently, 1.5% of the company's shares are short sold.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on UMH shares. Wedbush restated a "neutral" rating and set a $20.00 price target on shares of UMH Properties in a report on Monday, January 13th. StockNews.com upgraded UMH Properties from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.17.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in UMH. The Manufacturers Life Insurance Company raised its holdings in shares of UMH Properties by 2.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust's stock worth $883,000 after buying an additional 918 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of UMH Properties by 5.0% during the first quarter. Nisa Investment Advisors LLC now owns 22,380 shares of the real estate investment trust's stock valued at $419,000 after acquiring an additional 1,065 shares during the period. Corebridge Financial Inc. boosted its stake in shares of UMH Properties by 3.7% in the 4th quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust's stock valued at $679,000 after purchasing an additional 1,286 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of UMH Properties in the 4th quarter worth about $26,000. Finally, Principal Financial Group Inc. increased its position in shares of UMH Properties by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust's stock worth $726,000 after purchasing an additional 1,362 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company's stock.

UMH Properties Stock Performance

UMH stock traded down $0.36 during mid-day trading on Monday, reaching $17.43. 112,130 shares of the stock traded hands, compared to its average volume of 368,710. The firm has a market capitalization of $1.44 billion, a PE ratio of 134.05, a P/E/G ratio of 2.93 and a beta of 1.17. The business has a 50-day moving average of $17.88 and a two-hundred day moving average of $18.40. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties has a 52 week low of $14.73 and a 52 week high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $61.23 million during the quarter, compared to analyst estimates of $62.82 million. As a group, equities analysts predict that UMH Properties will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.16%. This is an increase from UMH Properties's previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 15th. UMH Properties's dividend payout ratio (DPR) is presently 3,000.00%.

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.