UMH Properties, Inc. (NYSE:UMH) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• UMH Properties, Inc. has received a consensus rating of "Hold" from analysts, with three hold ratings and two buy recommendations, and an average target price of $18.50 for the stock.
• The company recently reported a quarterly earnings loss of $0.23 per share, missing the consensus estimate of $0.25, while revenue exceeded expectations at $66.64 million.
• UMH Properties announced a quarterly dividend of $0.225 per share, with a dividend yield of 6.2%, to be paid on December 15th to shareholders on record by November 17th.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) has been given an average recommendation of "Hold" by the five analysts that are currently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $18.50.

A number of research analysts recently commented on the company. Weiss Ratings restated a "hold (c)" rating on shares of UMH Properties in a research report on Saturday, September 27th. Wedbush raised UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald started coverage on UMH Properties in a research note on Wednesday. They issued a "neutral" rating and a $15.00 price target on the stock.

UMH Properties Stock Up 0.2%

Shares of UMH traded up $0.04 during mid-day trading on Friday, hitting $14.60. 471,746 shares of the company's stock were exchanged, compared to its average volume of 775,674. The company has a market cap of $1.24 billion, a PE ratio of 104.25, a P/E/G ratio of 2.54 and a beta of 1.05. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. UMH Properties has a 52 week low of $14.37 and a 52 week high of $20.42. The company has a 50-day simple moving average of $15.56 and a 200 day simple moving average of $16.64.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The company had revenue of $66.64 million during the quarter, compared to analyst estimates of $66.07 million. On average, research analysts forecast that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be issued a dividend of $0.225 per share. The ex-dividend date is Monday, November 17th. This represents a $0.90 annualized dividend and a dividend yield of 6.2%. UMH Properties's payout ratio is currently 642.86%.

Insider Buying and Selling

In related news, Director Michael P. Landy purchased 10,000 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was acquired at an average price of $14.46 per share, for a total transaction of $144,600.00. Following the completion of the acquisition, the director owned 362,052 shares of the company's stock, valued at $5,235,271.92. This represents a 2.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Angela D. Pruitt sold 1,600 shares of the business's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $16.06, for a total value of $25,696.00. Following the completion of the transaction, the director directly owned 9,905 shares in the company, valued at approximately $159,074.30. This represents a 13.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,249 shares of company stock worth $2,491,728. 8.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in UMH. Nuveen LLC purchased a new position in shares of UMH Properties during the 1st quarter valued at $19,209,000. Alliancebernstein L.P. lifted its holdings in UMH Properties by 1,091.0% during the 1st quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust's stock worth $16,759,000 after purchasing an additional 820,934 shares in the last quarter. Strs Ohio lifted its holdings in UMH Properties by 3,361.8% during the 2nd quarter. Strs Ohio now owns 470,800 shares of the real estate investment trust's stock worth $7,905,000 after purchasing an additional 457,200 shares in the last quarter. Cherokee Insurance Co purchased a new stake in UMH Properties during the 2nd quarter worth about $6,366,000. Finally, American Century Companies Inc. lifted its holdings in UMH Properties by 13.5% during the 2nd quarter. American Century Companies Inc. now owns 2,389,308 shares of the real estate investment trust's stock worth $40,116,000 after purchasing an additional 283,700 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company's stock.

About UMH Properties

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.

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