UMH Properties (NYSE:UMH) Upgraded by StockNews.com to Hold Rating

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

Separately, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of UMH Properties in a research note on Monday, January 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.17.

UMH Properties Trading Up 1.0 %

Shares of UMH stock opened at $18.70 on Thursday. The stock has a 50-day simple moving average of $18.19 and a 200 day simple moving average of $18.76. The stock has a market capitalization of $1.54 billion, a P/E ratio of 143.82, a P/E/G ratio of 2.93 and a beta of 1.29. UMH Properties has a fifty-two week low of $14.73 and a fifty-two week high of $20.64. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of ($126.74) million during the quarter, compared to the consensus estimate of $59.73 million. On average, sell-side analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, February 18th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend was Tuesday, February 18th. UMH Properties’s payout ratio is presently 2,866.67%.

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Intech Investment Management LLC acquired a new position in UMH Properties in the 3rd quarter valued at $320,000. Charles Schwab Investment Management Inc. grew its position in shares of UMH Properties by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,792 shares of the real estate investment trust’s stock valued at $18,505,000 after purchasing an additional 56,662 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of UMH Properties by 10.7% in the third quarter. Daiwa Securities Group Inc. now owns 22,773 shares of the real estate investment trust’s stock worth $448,000 after purchasing an additional 2,207 shares during the period. Loomis Sayles & Co. L P lifted its position in shares of UMH Properties by 2,760.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,346 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of UMH Properties by 297.5% during the 3rd quarter. Quantbot Technologies LP now owns 50,183 shares of the real estate investment trust’s stock worth $987,000 after purchasing an additional 37,558 shares during the last quarter. Institutional investors and hedge funds 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.