UMH Properties (NYSE:UMH) Sets New 52-Week High at $19.92

UMH Properties, Inc. (NYSE:UMH - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.92 and last traded at $19.75, with a volume of 25907 shares changing hands. The stock had previously closed at $19.23.

Analyst Ratings Changes

UMH has been the topic of a number of recent research reports. Alliance Global Partners assumed coverage on UMH Properties in a research report on Thursday, July 18th. They issued a "buy" rating and a $21.00 target price on the stock. Wedbush upped their price objective on UMH Properties from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. William Blair reissued a "neutral" rating on shares of UMH Properties in a research note on Monday, May 13th. StockNews.com raised shares of UMH Properties from a "sell" rating to a "hold" rating in a research report on Tuesday, August 13th. Finally, B. Riley lifted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a "buy" rating in a research report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

UMH Properties Trading Up 2.2 %

The firm has a market capitalization of $1.45 billion, a P/E ratio of -131.66, a PEG ratio of 3.50 and a beta of 1.30. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 1.49. The firm has a 50 day moving average of $18.04 and a 200-day moving average of $16.42.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.21). UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. The firm had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. During the same quarter in the prior year, the business posted $0.21 EPS. On average, equities research analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties's payout ratio is -573.30%.

Insider Transactions at UMH Properties

In other news, Director Michael P. Landy bought 4,700 shares of the company's stock in a transaction on Tuesday, June 18th. The stock was purchased at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the completion of the transaction, the director now owns 341,796 shares of the company's stock, valued at $5,280,748.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Kiernan Conway sold 2,700 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total value of $52,758.00. Following the completion of the sale, the director now owns 412 shares of the company's stock, valued at $8,050.48. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael P. Landy acquired 4,700 shares of the business's stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the completion of the purchase, the director now owns 341,796 shares of the company's stock, valued at $5,280,748.20. The disclosure for this purchase can be found here. Company insiders own 8.63% of the company's stock.

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of UMH Properties by 10.6% during the 4th quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust's stock worth $100,212,000 after buying an additional 629,427 shares during the period. Panagora Asset Management Inc. acquired a new stake in UMH Properties in the fourth quarter worth $1,819,000. Kennedy Capital Management LLC increased its stake in UMH Properties by 245.9% in the first quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust's stock valued at $10,789,000 after purchasing an additional 472,307 shares in the last quarter. EntryPoint Capital LLC raised its holdings in shares of UMH Properties by 843.9% during the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust's stock valued at $33,000 after purchasing an additional 1,806 shares during the period. Finally, Swiss National Bank boosted its position in shares of UMH Properties by 1.9% during the 1st quarter. Swiss National Bank now owns 124,500 shares of the real estate investment trust's stock worth $2,022,000 after purchasing an additional 2,300 shares in the last quarter. Institutional investors and hedge funds 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.