UMH Properties, Inc. (NYSE:UMH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $18.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective points to a potential upside of 13.14% from the company’s previous close.

According to Zacks, “United Mobile Home’s primary business is the ownership and operation of manufactured home communities – leasing manufactured home spaces on a month-to-month basis to private manufactured home owners. The company also leases homes to residents. A manufactured home community is designed to accommodate detached, single family manufactured housing units, which are produced off-site by manufacturers and delivered by truck to the site. “

Several other brokerages have also recently issued reports on UMH. Sidoti raised their target price on UMH Properties from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, May 25th. ValuEngine cut UMH Properties from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. FBR & Co reissued an “outperform” rating and issued a $18.50 target price on shares of UMH Properties in a research report on Tuesday, July 11th. BidaskClub cut UMH Properties from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Finally, Janney Montgomery Scott assumed coverage on UMH Properties in a research report on Friday, September 8th. They issued a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $18.70.

Shares of UMH Properties (UMH) opened at 15.91 on Thursday. The company’s market capitalization is $539.27 million. The stock’s 50 day moving average price is $15.90 and its 200 day moving average price is $16.01. UMH Properties has a 12 month low of $11.28 and a 12 month high of $17.90.

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In related news, Director James E. Mitchell acquired 3,000 shares of the stock in a transaction dated Friday, July 21st. The shares were purchased at an average cost of $25.00 per share, with a total value of $75,000.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at $75,000. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 3,698 shares of company stock worth $85,999. Insiders own 11.61% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of UMH Properties by 0.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,048 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 92 shares in the last quarter. Bard Associates Inc. lifted its position in shares of UMH Properties by 1.0% during the 2nd quarter. Bard Associates Inc. now owns 58,600 shares of the real estate investment trust’s stock valued at $999,000 after buying an additional 600 shares in the last quarter. Aperio Group LLC lifted its position in shares of UMH Properties by 6.0% during the 2nd quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares in the last quarter. Nationwide Fund Advisors lifted its position in shares of UMH Properties by 6.9% during the 2nd quarter. Nationwide Fund Advisors now owns 15,613 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 1,007 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of UMH Properties by 11.6% during the 2nd quarter. Voya Investment Management LLC now owns 17,252 shares of the real estate investment trust’s stock valued at $294,000 after buying an additional 1,798 shares in the last quarter. 53.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

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Analyst Recommendations for UMH Properties (NYSE:UMH)

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