StockNews.com cut shares of UMH Properties (NYSE:UMH - Free Report) from a hold rating to a sell rating in a research report report published on Tuesday.
A number of other research firms have also issued reports on UMH. Maxim Group lowered their target price on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a report on Monday, May 5th. Wedbush reaffirmed a "neutral" rating and set a $20.00 target price on shares of UMH Properties in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $21.00.
Check Out Our Latest Stock Report on UMH Properties
UMH Properties Stock Performance
UMH stock traded up $0.16 during mid-day trading on Tuesday, reaching $17.20. The company had a trading volume of 362,471 shares, compared to its average volume of 433,733. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.45 billion, a P/E ratio of 132.34, a P/E/G ratio of 2.93 and a beta of 1.14. UMH Properties has a one year low of $14.73 and a one year high of $20.64. The stock's 50-day simple moving average is $17.62 and its two-hundred day simple moving average is $18.28.
UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $61.23 million for the quarter, compared to analyst estimates of $62.82 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. Research analysts anticipate that UMH Properties will post 0.93 EPS for the current year.
UMH Properties Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a yield of 5.23%. UMH Properties's dividend payout ratio (DPR) is presently 750.00%.
Insiders Place Their Bets
In other news, Director William Edward Mitchell sold 39,974 shares of UMH Properties stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $16.94, for a total transaction of $677,159.56. Following the completion of the sale, the director now directly owns 115,627 shares in the company, valued at $1,958,721.38. The trade was a 25.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.77% of the company's stock.
Institutional Investors Weigh In On UMH Properties
Several institutional investors have recently made changes to their positions in UMH. Capital Research Global Investors lifted its holdings in shares of UMH Properties by 124.5% during the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock valued at $76,121,000 after buying an additional 2,236,080 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in UMH Properties in the 4th quarter worth approximately $23,396,000. Nuveen LLC acquired a new stake in UMH Properties in the 1st quarter worth approximately $19,209,000. Alliancebernstein L.P. lifted its holdings in UMH Properties by 1,091.0% in 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 during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in UMH Properties by 11.9% in the 4th quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust's stock worth $141,722,000 after purchasing an additional 799,798 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
UMH Properties Company Profile
(
Get Free Report)
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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