UMH Properties (NYSE:UMH) Research Coverage Started at Alliance Global Partners

Alliance Global Partners started coverage on shares of UMH Properties (NYSE:UMH) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a buy rating and a $21.00 price target on the real estate investment trust’s stock.

UMH has been the topic of a number of other reports. B. Riley restated a buy rating and issued a $18.50 price target on shares of UMH Properties in a research note on Thursday, May 30th. Wedbush reiterated a neutral rating and issued a $17.00 price target on shares of UMH Properties in a report on Monday, May 13th. Compass Point boosted their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a report on Thursday, March 21st. William Blair reaffirmed a neutral rating on shares of UMH Properties in a report on Monday, May 13th. Finally, StockNews.com raised UMH Properties from a sell rating to a hold rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $19.50.

UMH Properties Stock Down 0.5 %

NYSE UMH opened at $17.43 on Thursday. UMH Properties has a 52-week low of $13.26 and a 52-week high of $17.91. The firm has a 50-day moving average price of $15.80 and a 200 day moving average price of $15.57. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.82 and a quick ratio of 6.82.

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 annualized dividend and a yield of 4.93%. UMH Properties’s dividend payout ratio (DPR) is currently -573.30%.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, Director Michael P. Landy acquired 4,700 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was acquired at an average cost of $15.45 per share, with a total value of $72,615.00. Following the purchase, the director now directly owns 341,796 shares in the company, valued at approximately $5,280,748.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Michael P. Landy acquired 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the purchase, the director now directly owns 341,796 shares in the company, valued at $5,280,748.20. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at approximately $17,254,970.65. The disclosure for this sale can be found here. Insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On UMH Properties

Several institutional investors and hedge funds have recently modified their holdings of the company. EntryPoint Capital LLC grew its stake in UMH Properties by 843.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,806 shares during the period. SRS Capital Advisors Inc. increased its stake in UMH Properties by 382.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,711 shares during the last quarter. Quadrant Capital Group LLC lifted its position in UMH Properties by 52.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock worth $82,000 after buying an additional 1,856 shares during the period. International Assets Investment Management LLC boosted its stake in UMH Properties by 1,440.7% in the 4th quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 7,391 shares during the last quarter. Finally, New York Life Investment Management LLC purchased a new stake in UMH Properties in the 4th quarter valued at about $156,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.

About UMH Properties

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.