UMH Properties (NYSE:UMH) Upgraded to “Hold” at StockNews.com

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

Several other research analysts also recently issued reports on the company. Wedbush restated a neutral rating and set a $17.00 price objective on shares of UMH Properties in a research report on Monday, March 25th. B. Riley started coverage on UMH Properties in a research report on Thursday, March 21st. They set a buy rating and a $18.50 price objective for the company. Finally, Compass Point lifted their price objective on UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $19.00.

UMH Properties Stock Up 0.2 %

Shares of UMH Properties stock opened at $15.66 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.52 and a current ratio of 6.52. UMH Properties has a 1 year low of $13.26 and a 1 year high of $16.85. The business has a 50 day moving average price of $15.59 and a 200 day moving average price of $15.03.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be paid a $0.215 dividend. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a yield of 5.49%. The ex-dividend date is Tuesday, May 14th. UMH Properties’s payout ratio is presently -546.63%.

Insiders Place Their Bets

In other UMH Properties news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the completion of the sale, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at approximately $1,544,049.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.63% of the stock is owned by corporate insiders.

Institutional Trading of UMH Properties

Several institutional investors have recently made changes to their positions in UMH. SG Americas Securities LLC purchased a new stake in shares of UMH Properties during the 3rd quarter valued at $297,000. Bfsg LLC purchased a new stake in shares of UMH Properties during the 3rd quarter valued at $151,000. Clear Creek Financial Management LLC grew its stake in shares of UMH Properties by 36.0% during the 3rd quarter. Clear Creek Financial Management LLC now owns 24,378 shares of the real estate investment trust’s stock valued at $342,000 after buying an additional 6,452 shares during the period. Raymond James & Associates grew its stake in shares of UMH Properties by 6.6% during the 3rd quarter. Raymond James & Associates now owns 603,629 shares of the real estate investment trust’s stock valued at $8,463,000 after buying an additional 37,391 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of UMH Properties by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 343,547 shares of the real estate investment trust’s stock valued at $4,817,000 after buying an additional 1,896 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

UMH Properties Company Profile

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.