UMH Properties, Inc. (UMH) Given Consensus Rating of “Buy” by Analysts
UMH Properties, Inc. (NYSE:UMH) has been assigned a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $18.88.
A number of research firms recently weighed in on UMH. Zacks Investment Research downgraded UMH Properties from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub upgraded UMH Properties from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. DA Davidson began coverage on UMH Properties in a report on Friday, September 1st. They issued a “buy” rating and a $18.00 price objective for the company. Janney Montgomery Scott began coverage on UMH Properties in a report on Friday, September 8th. They issued a “buy” rating for the company. Finally, FBR & Co restated an “outperform” rating and issued a $18.50 price objective on shares of UMH Properties in a report on Tuesday, July 11th.
In other news, Director James E. Mitchell purchased 3,000 shares of the business’s stock in a transaction on 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 can be accessed through the SEC website. Insiders have acquired 3,764 shares of company stock worth $86,998 in the last ninety days. Insiders own 11.61% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Creative Planning boosted its position in UMH Properties by 227.1% during the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 4,200 shares during the last quarter. Bank of Montreal Can boosted its position in 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 valued at $177,000 after acquiring an additional 9,221 shares during the last quarter. Aperio Group LLC boosted its position in 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 valued at $186,000 after acquiring an additional 617 shares during the last quarter. Virginia Retirement Systems ET AL bought a new stake in UMH Properties during the second quarter valued at $211,000. Finally, BlueCrest Capital Management Ltd bought a new stake in UMH Properties during the second quarter valued at $214,000. 53.99% of the stock is currently owned by institutional investors and hedge funds.
UMH Properties (UMH) opened at 15.16 on Tuesday. The company’s market capitalization is $513.85 million. The stock has a 50 day moving average price of $15.79 and a 200 day moving average price of $16.04. UMH Properties has a 52-week low of $11.28 and a 52-week high of $17.90.
The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were given a dividend of $0.18 per share. The ex-dividend date was Friday, August 11th. This represents a $0.72 dividend on an annualized basis and a yield of 4.80%. UMH Properties’s dividend payout ratio (DPR) is currently -799.91%.
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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