Shares of UMH Properties, Inc. (NYSE:UMH) have received an average recommendation of “Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $21.00.
A number of research analysts recently commented on UMH shares. B. Riley upped their price target on shares of UMH Properties from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, May 12th. Zacks Investment Research raised UMH Properties from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a research report on Friday, May 14th. Aegis started coverage on UMH Properties in a report on Monday, March 29th. They set a “buy” rating and a $25.00 price target for the company. Finally, TheStreet upgraded UMH Properties from a “c” rating to a “b-” rating in a research note on Thursday, March 25th.
UMH stock opened at $22.93 on Tuesday. UMH Properties has a 1-year low of $11.67 and a 1-year high of $23.17. The business’s 50 day simple moving average is $21.07. The company has a debt-to-equity ratio of 5.15, a current ratio of 3.17 and a quick ratio of 3.17. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 47.77 and a beta of 1.13.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Monday, May 17th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, May 14th. This represents a $0.76 annualized dividend and a yield of 3.31%. UMH Properties’s dividend payout ratio is 108.57%.
In related news, General Counsel Craig Koster sold 6,000 shares of UMH Properties stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $21.25, for a total value of $127,500.00. Over the last three months, insiders acquired 158 shares of company stock worth $3,004. Insiders own 10.95% of the company’s stock.
A number of large investors have recently modified their holdings of UMH. BlackRock Inc. lifted its stake in shares of UMH Properties by 2.3% in the 1st quarter. BlackRock Inc. now owns 2,981,562 shares of the real estate investment trust’s stock valued at $57,158,000 after acquiring an additional 67,840 shares during the last quarter. Investment Counselors of Maryland LLC boosted its position in UMH Properties by 3.4% during the 1st quarter. Investment Counselors of Maryland LLC now owns 1,781,575 shares of the real estate investment trust’s stock worth $34,153,000 after buying an additional 59,301 shares during the period. FMR LLC grew its holdings in UMH Properties by 197.8% during the 1st quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock worth $21,962,000 after acquiring an additional 1,035,919 shares during the last quarter. Copeland Capital Management LLC bought a new position in shares of UMH Properties during the first quarter valued at $18,069,000. Finally, Geode Capital Management LLC lifted its holdings in shares of UMH Properties by 9.1% during the first quarter. Geode Capital Management LLC now owns 763,263 shares of the real estate investment trust’s stock worth $14,631,000 after purchasing an additional 63,443 shares during the period. 59.51% of the stock is owned by institutional investors and hedge funds.
UMH Properties Company Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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