UMH Properties (NYSE:UMH) Upgraded at Wedbush

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

Several other equities research analysts have also commented on the stock. Maxim Group dropped their price target on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research note on Monday, May 5th. B. Riley restated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Finally, Wall Street Zen raised UMH Properties from a "sell" rating to a "hold" rating in a research note on Friday, June 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, UMH Properties presently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

UMH Properties Stock Performance

Shares of UMH Properties stock traded down $0.27 on Wednesday, reaching $17.07. 421,348 shares of the company were exchanged, compared to its average volume of 440,876. UMH Properties has a 1-year low of $15.74 and a 1-year high of $20.64. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 142.26, a P/E/G ratio of 2.89 and a beta of 1.10. The company has a debt-to-equity ratio of 1.02, a quick ratio of 6.98 and a current ratio of 6.98. The company's 50-day moving average is $17.01 and its two-hundred day moving average is $17.70.

UMH Properties (NYSE:UMH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. UMH Properties had a net margin of 11.51% and a return on equity of 5.14%. The company had revenue of $61.23 million during the quarter, compared to the consensus estimate of $62.82 million. As a group, research analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samuel A. Landy sold 25,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was 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 of the company's stock, valued at approximately $19,236,270.55. The trade was a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Edward Mitchell sold 70,852 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $17.20, for a total value of $1,218,654.40. Following the completion of the sale, the director owned 215,427 shares of the company's stock, valued at approximately $3,705,344.40. This trade represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 160,826 shares of company stock worth $2,745,314 in the last quarter. Company insiders own 8.77% of the company's stock.

Institutional Investors Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors grew its stake in shares of UMH Properties by 124.5% in the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock worth $76,121,000 after purchasing an additional 2,236,080 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of UMH Properties in the fourth quarter valued at $23,396,000. Nuveen LLC acquired a new stake in shares of UMH Properties during the 1st quarter valued at $19,209,000. Alliancebernstein L.P. boosted its stake in shares of 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 acquiring an additional 820,934 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of UMH Properties by 11.9% during the fourth 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 period. 75.40% of the stock is currently owned by institutional investors.

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.