UMH Properties (NYSE:UMH) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of UMH Properties (NYSE:UMHGet Rating) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “United Mobile Home’s primary business is the ownership and operation of manufactured home communities – leasing manufactured home spaces on a month-to-month basis to private manufactured home owners. The company also leases homes to residents. A manufactured home community is designed to accommodate detached, single family manufactured housing units, which are produced off-site by manufacturers and delivered by truck to the site. “

A number of other analysts have also issued reports on the company. StockNews.com began coverage on UMH Properties in a research report on Thursday, March 31st. They set a sell rating on the stock. Maxim Group reaffirmed a buy rating and set a $28.00 target price on shares of UMH Properties in a research report on Friday, May 6th. B. Riley lowered their price objective on UMH Properties from $27.00 to $26.00 and set a buy rating for the company in a report on Monday, May 9th. Finally, Colliers Securities initiated coverage on UMH Properties in a report on Wednesday, January 19th. They issued a neutral rating and a $26.00 price objective for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, UMH Properties presently has a consensus rating of Hold and an average target price of $26.92.

Shares of UMH opened at $19.31 on Tuesday. The stock’s 50-day moving average is $23.62 and its two-hundred day moving average is $23.95. The stock has a market cap of $1.05 billion, a PE ratio of 101.64, a P/E/G ratio of 4.50 and a beta of 1.14. UMH Properties has a 12 month low of $18.75 and a 12 month high of $27.50. The company has a debt-to-equity ratio of 2.00, a current ratio of 16.65 and a quick ratio of 16.65.

UMH Properties (NYSE:UMHGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The real estate investment trust reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.30). UMH Properties had a return on equity of 16.45% and a net margin of 21.44%. During the same period last year, the firm posted $0.20 EPS. On average, research analysts anticipate that UMH Properties will post 0.87 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Monday, May 16th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.14%. UMH Properties’s payout ratio is 421.07%.

In other UMH Properties news, Director Kenneth K. Quigley, Jr. purchased 3,500 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $18.81 per share, with a total value of $65,835.00. Following the completion of the purchase, the director now owns 17,365 shares in the company, valued at approximately $326,635.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven B. Wolgin sold 2,750 shares of the stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $24.40, for a total value of $67,100.00. The disclosure for this sale can be found here. In the last three months, insiders bought 4,632 shares of company stock valued at $92,602 and sold 8,710 shares valued at $206,663. Corporate insiders own 10.95% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Whittier Trust Co. acquired a new stake in shares of UMH Properties in the first quarter valued at $37,000. Federated Hermes Inc. lifted its holdings in shares of UMH Properties by 150.4% in the first quarter. Federated Hermes Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 1,920 shares during the period. Palisade Capital Management LLC NJ acquired a new stake in shares of UMH Properties in the fourth quarter valued at $205,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of UMH Properties by 97.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,509 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 3,703 shares during the period. Finally, Vert Asset Management LLC acquired a new stake in shares of UMH Properties in the fourth quarter valued at $225,000. Institutional investors and hedge funds own 69.02% of the company’s stock.

About UMH Properties (Get Rating)

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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Analyst Recommendations for UMH Properties (NYSE:UMH)

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