UMH Properties (NYSE:UMH) Upgraded at StockNews.com

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

Separately, Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of UMH Properties in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.17.

UMH Properties Trading Up 1.0 %

Shares of UMH opened at $18.70 on Thursday. UMH Properties has a 12 month low of $14.73 and a 12 month high of $20.64. The stock’s 50-day moving average is $18.19 and its two-hundred day moving average is $18.76. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The stock has a market cap of $1.54 billion, a PE ratio of 143.82, a P/E/G ratio of 2.93 and a beta of 1.29.

UMH Properties (NYSE:UMH) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The firm had revenue of ($126.74) million during the quarter, compared to analysts’ expectations of $59.73 million. Equities analysts forecast that UMH Properties will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

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

Institutional Investors Weigh In On UMH Properties

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in UMH Properties by 2.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust’s stock worth $883,000 after buying an additional 918 shares during the period. Centiva Capital LP grew its position in shares of UMH Properties by 4.0% during the third quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust’s stock worth $618,000 after acquiring an additional 1,195 shares during the last quarter. Corebridge Financial Inc. increased its holdings in shares of UMH Properties by 3.7% in the 4th quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust’s stock worth $679,000 after acquiring an additional 1,286 shares during the period. GF Fund Management CO. LTD. bought a new stake in UMH Properties in the 4th quarter valued at about $26,000. Finally, Summit Investment Advisors Inc. boosted its stake in UMH Properties by 22.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 7,564 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 1,365 shares during the period. 75.40% 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 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.