UMH Properties (NYSE:UMH) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of UMH Properties (NYSE:UMH) from a hold rating to a sell rating in a research report released on Monday morning.

UMH has been the subject of several other research reports. Wedbush reiterated a neutral rating and set a $17.00 price target on shares of UMH Properties in a research note on Monday, May 13th. B. Riley reiterated a buy rating and set a $18.50 price target on shares of UMH Properties in a research note on Thursday, May 30th. Alliance Global Partners began coverage on UMH Properties in a research note on Thursday, July 18th. They set a buy rating and a $21.00 price target for the company. Finally, William Blair reiterated a neutral rating on shares of UMH Properties in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $19.50.

UMH Properties Stock Performance

NYSE:UMH traded up $0.85 during trading on Monday, reaching $18.97. The company’s stock had a trading volume of 650,742 shares, compared to its average volume of 385,625. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -125.73, a price-to-earnings-growth ratio of 3.36 and a beta of 1.29. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.82 and a current ratio of 6.82. The firm has a 50 day moving average of $16.27 and a 200-day moving average of $15.77. UMH Properties has a 12 month low of $13.26 and a 12 month high of $19.06.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.215 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.53%. UMH Properties’s dividend payout ratio (DPR) is presently -573.33%.

Insider Activity

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

Institutional Investors Weigh In On UMH Properties

A number of large investors have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in shares of UMH Properties by 6.7% during the fourth quarter. State of Alaska Department of Revenue now owns 28,130 shares of the real estate investment trust’s stock valued at $430,000 after purchasing an additional 1,769 shares in the last quarter. Arizona State Retirement System boosted its position in shares of UMH Properties by 5.4% during the fourth quarter. Arizona State Retirement System now owns 17,334 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 894 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of UMH Properties by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 94,317 shares of the real estate investment trust’s stock valued at $1,468,000 after purchasing an additional 4,068 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of UMH Properties by 1,440.7% in the fourth quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 7,391 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of UMH Properties by 11.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,635 shares of the real estate investment trust’s stock worth $408,000 after purchasing an additional 2,780 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

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.