UMH Properties (NYSE:UMH) Raised to "Hold" at Wedbush

UMH Properties (NYSE:UMH - Get Free Report) was upgraded by research analysts at Wedbush to a "hold" rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently issued reports on the company. B. Riley reaffirmed a "buy" rating on shares of UMH Properties in a report on Tuesday, May 13th. Wall Street Zen raised UMH Properties from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Finally, Maxim Group decreased their price objective on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

UMH Properties Price Performance

NYSE UMH traded up $0.19 during trading hours on Wednesday, reaching $17.34. The company's stock had a trading volume of 317,525 shares, compared to its average volume of 440,302. The firm's 50-day moving average price is $17.01 and its 200-day moving average price is $17.73. The company has a quick ratio of 6.98, a current ratio of 6.98 and a debt-to-equity ratio of 1.02. UMH Properties has a 1 year low of $15.74 and a 1 year high of $20.64. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 144.51, a PEG ratio of 2.89 and a beta of 1.10.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.23. The business had revenue of $61.23 million for the quarter, compared to analysts' expectations of $62.82 million. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. On average, equities research analysts predict that UMH Properties will post 0.93 EPS for the current fiscal year.

Insider Buying and Selling at UMH Properties

In related news, Director William Edward Mitchell sold 39,974 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $16.94, for a total transaction of $677,159.56. Following the sale, the director owned 115,627 shares in the company, valued at approximately $1,958,721.38. This represents a 25.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Samuel A. Landy sold 25,000 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the sale, the chief executive officer owned 1,140,265 shares in the company, valued at $19,236,270.55. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,826 shares of company stock worth $2,745,314 in the last 90 days. 8.77% of the stock is currently owned by insiders.

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of UMH. Aberdeen Group plc grew its position in UMH Properties by 3.6% in the 1st quarter. Aberdeen Group plc now owns 19,132 shares of the real estate investment trust's stock valued at $358,000 after acquiring an additional 668 shares during the last quarter. Avantax Advisory Services Inc. grew its position in UMH Properties by 2.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust's stock valued at $491,000 after acquiring an additional 671 shares during the last quarter. Deutsche Bank AG grew its position in UMH Properties by 0.8% in the 1st quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust's stock valued at $1,545,000 after acquiring an additional 682 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in 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 valued at $883,000 after acquiring an additional 918 shares during the last quarter. Finally, Inspire Investing LLC grew its position in UMH Properties by 4.7% in the 1st quarter. Inspire Investing LLC now owns 22,379 shares of the real estate investment trust's stock valued at $418,000 after acquiring an additional 1,007 shares during 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.