Zacks Investment Research upgraded shares of UMH PROPERTIES/SH SH (NYSE:UMH) from a hold rating to a buy rating in a research note issued to investors on Tuesday. The brokerage currently has $15.00 price target on the real estate investment trust’s stock.
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. “
Separately, Boenning Scattergood reissued a buy rating and set a $19.50 target price on shares of UMH PROPERTIES/SH SH in a report on Monday, March 11th.
UMH opened at $13.56 on Tuesday. The firm has a market cap of $525.83 million, a PE ratio of 18.32, a P/E/G ratio of 1.62 and a beta of 0.76. UMH PROPERTIES/SH SH has a 52-week low of $11.14 and a 52-week high of $16.69. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 3.23.
UMH PROPERTIES/SH SH (NYSE:UMH) last released its earnings results on Thursday, March 7th. The real estate investment trust reported ($0.87) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.83). The company had revenue of $34.25 million for the quarter, compared to analyst estimates of $33.35 million. UMH PROPERTIES/SH SH had a negative return on equity of 35.79% and a negative net margin of 43.63%. Equities analysts forecast that UMH PROPERTIES/SH SH will post 0.83 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.31%. The ex-dividend date was Thursday, February 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is presently 97.30%.
In other UMH PROPERTIES/SH SH news, insider Umh Properties, Inc. acquired 11,958 shares of UMH PROPERTIES/SH SH stock in a transaction that occurred on Monday, December 17th. The shares were acquired at an average cost of $13.72 per share, with a total value of $164,063.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 12,124 shares of company stock worth $166,066 over the last ninety days. 10.89% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC acquired a new stake in UMH PROPERTIES/SH SH in the fourth quarter valued at about $33,000. PNC Financial Services Group Inc. acquired a new stake in UMH PROPERTIES/SH SH in the fourth quarter valued at about $52,000. Great West Life Assurance Co. Can boosted its stake in UMH PROPERTIES/SH SH by 44.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 5,945 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 1,816 shares in the last quarter. Legal & General Group Plc boosted its stake in UMH PROPERTIES/SH SH by 32.0% in the fourth quarter. Legal & General Group Plc now owns 6,547 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 1,589 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in UMH PROPERTIES/SH SH by 181.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,855 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 7,638 shares in the last quarter. 58.23% of the stock is currently owned by institutional investors and hedge funds.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 115 manufactured home communities containing approximately 20,700 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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