Short Interest in UMH Properties, Inc (UMH) Declines By 47.6%
UMH Properties, Inc (NYSE:UMH) was the target of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 401,739 shares, a drop of 47.6% from the December 15th total of 767,348 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 268,439 shares, the short-interest ratio is presently 1.5 days.
Hedge funds and other institutional investors have recently modified their holdings of the company. BlueCrest Capital Management Ltd acquired a new position in shares of UMH Properties in the 2nd quarter worth approximately $214,000. Nationwide Fund Advisors lifted its position in shares of UMH Properties by 6.9% in the 2nd quarter. Nationwide Fund Advisors now owns 15,613 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 1,007 shares during the period. Stevens Capital Management LP acquired a new position in shares of UMH Properties in the 3rd quarter worth approximately $260,000. Mesirow Financial Investment Management Inc. acquired a new position in shares of UMH Properties in the 4th quarter worth approximately $257,000. Finally, Voya Investment Management LLC lifted its position in shares of UMH Properties by 11.6% in the 2nd quarter. Voya Investment Management LLC now owns 17,252 shares of the real estate investment trust’s stock worth $294,000 after purchasing an additional 1,798 shares during the period. Hedge funds and other institutional investors own 54.93% of the company’s stock.
Several equities research analysts recently commented on UMH shares. B. Riley reiterated a “buy” rating and set a $17.50 target price on shares of UMH Properties in a research report on Tuesday, November 21st. Zacks Investment Research upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $18.50.
UMH Properties (NYSE:UMH) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.19 by ($0.34). UMH Properties had a return on equity of 0.74% and a net margin of 1.05%. The business had revenue of $28.69 million for the quarter, compared to analyst estimates of $28.79 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The firm’s quarterly revenue was up 13.1% on a year-over-year basis. analysts predict that UMH Properties will post 0.73 earnings per share for the current year.
UMH Properties Company Profile
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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