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 released on Thursday morning.

Separately, Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target 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 issued a buy rating to the company. According to data from MarketBeat.com, UMH Properties currently has a consensus rating of “Hold” and an average target price of $21.17.

UMH Properties Stock Performance

Shares of UMH opened at $18.49 on Thursday. The company has a 50-day moving average of $18.19 and a two-hundred day moving average of $18.78. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 142.25, a PEG ratio of 2.93 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties has a one year low of $14.73 and a one year high of $20.64.

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

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th were given a dividend of $0.215 per share. The ex-dividend date was Tuesday, February 18th. This represents a $0.86 dividend on an annualized basis and a yield of 4.65%. UMH Properties’s payout ratio is currently 2,866.67%.

Hedge Funds Weigh In On UMH Properties

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

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.