UMH Properties (NYSE:UMH) Coverage Initiated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has upgraded UMH Properties (NYSE:UMH) to a "hold" rating with a target price of $15.00, indicating a potential upside of 3.81% from its previous close.
• The stock is currently down 1.8%, trading at $14.45, with a market capitalization of $1.23 billion and a PE ratio of 103.50.
• Insider transactions include Director Michael P. Landy purchasing 10,000 shares at $14.46 each, while Director William Edward Mitchell sold 75,849 shares at $16.32, reflecting significant trading activity within the company.

Stock analysts at Cantor Fitzgerald started coverage on shares of UMH Properties (NYSE:UMH - Get Free Report) in a report released on Wednesday, Marketbeat Ratings reports. The firm set a "neutral" rating and a $15.00 price target on the real estate investment trust's stock. Cantor Fitzgerald's price objective points to a potential upside of 4.06% from the stock's previous close.

UMH has been the subject of a number of other reports. Wedbush upgraded UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.50.

UMH Properties Price Performance

Shares of UMH traded down $0.30 during trading hours on Wednesday, reaching $14.42. The stock had a trading volume of 53,267 shares, compared to its average volume of 458,879. UMH Properties has a 12 month low of $14.37 and a 12 month high of $20.42. The stock has a market capitalization of $1.22 billion, a PE ratio of 102.89, a PEG ratio of 2.54 and a beta of 1.05. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. The company's 50-day moving average is $15.65 and its two-hundred day moving average is $16.69.

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

Insider Activity

In other UMH Properties news, Director William Edward Mitchell sold 75,849 shares of UMH Properties stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the transaction, the director owned 41,368 shares of the company's stock, valued at $675,125.76. This trade represents a 64.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael P. Landy purchased 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was bought at an average cost of $14.46 per share, for a total transaction of $144,600.00. Following the acquisition, the director directly owned 362,052 shares in the company, valued at $5,235,271.92. This trade represents a 2.84% increase in their position. The disclosure for this purchase can be found here. Insiders sold 155,249 shares of company stock worth $2,491,728 in the last quarter. 8.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On UMH Properties

A number of hedge funds have recently modified their holdings of UMH. Osaic Holdings Inc. grew its stake in UMH Properties by 6.8% in the 2nd quarter. Osaic Holdings Inc. now owns 13,062 shares of the real estate investment trust's stock valued at $219,000 after buying an additional 827 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in UMH Properties by 13.8% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 118,627 shares of the real estate investment trust's stock valued at $1,990,000 after buying an additional 14,343 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in UMH Properties by 468.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,385 shares of the real estate investment trust's stock valued at $242,000 after buying an additional 11,855 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of UMH Properties by 127.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,182 shares of the real estate investment trust's stock valued at $154,000 after purchasing an additional 5,146 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of UMH Properties by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 1,189,252 shares of the real estate investment trust's stock valued at $19,968,000 after purchasing an additional 91,202 shares in the last quarter. Institutional investors own 75.40% of the company's stock.

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.