Investment analysts at Janney Montgomery Scott initiated coverage on shares of UMH Properties, Inc. (NYSE:UMH) in a report released on Friday, The Fly reports. The firm set a “buy” rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently weighed in on UMH. BidaskClub raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. DA Davidson started coverage on shares of UMH Properties in a research report on Friday, September 1st. They set a “buy” rating and a $18.00 price target on the stock. ValuEngine cut shares of UMH Properties from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Sidoti increased their price target on shares of UMH Properties from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, Wunderlich increased their price target on shares of UMH Properties from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $18.88.

Shares of UMH Properties (UMH) opened at 16.03 on Friday. The firm’s 50-day moving average price is $15.95 and its 200-day moving average price is $15.97. The stock’s market capitalization is $543.34 million. UMH Properties has a one year low of $11.28 and a one year high of $17.90.

TRADEMARK VIOLATION WARNING: This report was originally published by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States and international copyright laws. The original version of this report can be read at https://www.americanbankingnews.com/2017/09/08/umh-properties-inc-umh-earns-buy-rating-from-analysts-at-janney-montgomery-scott.html.

In related news, Director James E. Mitchell purchased 3,000 shares of UMH Properties stock in a transaction dated Friday, July 21st. The shares were acquired at an average price of $25.00 per share, with a total value of $75,000.00. Following the completion of the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $75,000. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought 3,759 shares of company stock worth $87,006 in the last ninety days. Corporate insiders own 11.61% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Creative Planning lifted its position in shares of UMH Properties by 227.1% during the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 4,200 shares during the last quarter. Bank of Montreal Can lifted its position in shares of UMH Properties by 787.4% during the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock worth $177,000 after purchasing an additional 9,221 shares during the last quarter. Aperio Group LLC lifted its position in shares of UMH Properties by 6.0% during the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 617 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of UMH Properties during the second quarter worth about $211,000. Finally, BlueCrest Capital Management Ltd bought a new position in shares of UMH Properties during the second quarter worth about $214,000. 53.99% of the stock is currently owned by institutional investors and hedge funds.

About UMH Properties

UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.

The Fly

Analyst Recommendations for UMH Properties (NYSE:UMH)

Receive News & Ratings for UMH Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for UMH Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.