Shares of UMH PROPERTIES/SH SH (NYSE:UMH) have been assigned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $18.00.
A number of research analysts have commented on UMH shares. Zacks Investment Research cut UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. DA Davidson reiterated a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. TheStreet cut UMH PROPERTIES/SH SH from a “c” rating to a “d+” rating in a research note on Wednesday, August 21st. Compass Point initiated coverage on UMH PROPERTIES/SH SH in a research note on Monday, July 22nd. They issued a “buy” rating and a $19.50 price target on the stock. Finally, Maxim Group set a $17.00 price target on UMH PROPERTIES/SH SH and gave the stock a “buy” rating in a research note on Monday, August 12th.
UMH PROPERTIES/SH SH stock traded up $0.06 during midday trading on Tuesday, reaching $13.70. The stock had a trading volume of 242,396 shares, compared to its average volume of 186,594. UMH PROPERTIES/SH SH has a twelve month low of $11.14 and a twelve month high of $15.99. The stock has a market capitalization of $551.48 million, a PE ratio of 20.06, a price-to-earnings-growth ratio of 2.02 and a beta of 0.62. The company has a debt-to-equity ratio of 2.59, a quick ratio of 3.05 and a current ratio of 3.05. The stock’s 50-day simple moving average is $12.81 and its 200 day simple moving average is $13.24.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.26%. The ex-dividend date is Wednesday, August 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is 97.30%.
In related news, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $11.86, for a total value of $94,880.00. Following the completion of the sale, the chairman now directly owns 603,555 shares of the company’s stock, valued at $7,158,162.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Umh Properties, Inc. acquired 18,555 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was purchased at an average cost of $13.15 per share, with a total value of $243,998.25. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 23,535 shares of company stock worth $304,495. Insiders own 10.84% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in shares of UMH PROPERTIES/SH SH by 3.1% during the second quarter. BlackRock Inc. now owns 2,700,858 shares of the real estate investment trust’s stock valued at $33,518,000 after purchasing an additional 80,428 shares during the last quarter. FMR LLC boosted its position in shares of UMH PROPERTIES/SH SH by 197.8% during the first quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock worth $21,962,000 after buying an additional 1,035,919 shares during the period. Investment Counselors of Maryland LLC boosted its position in shares of UMH PROPERTIES/SH SH by 12.8% during the second quarter. Investment Counselors of Maryland LLC now owns 1,297,559 shares of the real estate investment trust’s stock worth $16,103,000 after buying an additional 147,083 shares during the period. Russell Investments Group Ltd. boosted its position in shares of UMH PROPERTIES/SH SH by 9.5% during the second quarter. Russell Investments Group Ltd. now owns 602,258 shares of the real estate investment trust’s stock worth $7,475,000 after buying an additional 52,301 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of UMH PROPERTIES/SH SH by 4.3% during the second quarter. D.A. Davidson & CO. now owns 560,597 shares of the real estate investment trust’s stock worth $6,957,000 after buying an additional 23,184 shares during the period. 60.16% of the stock is owned by hedge funds and other institutional investors.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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