UMH Properties, Inc. (UMH) Receives $18.88 Consensus Target Price from Analysts
UMH Properties, Inc. (NYSE:UMH) has been assigned an average rating of “Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $18.88.
A number of research firms recently weighed in on UMH. DA Davidson began coverage on shares of UMH Properties in a research report on Friday. They issued a “buy” rating and a $18.00 target price for the company. BidaskClub raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. ValuEngine downgraded shares of UMH Properties from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. FBR & Co reaffirmed an “outperform” rating and issued a $18.50 target price on shares of UMH Properties in a research report on Tuesday, July 11th. Finally, Sidoti raised their target price on shares of UMH Properties from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, May 25th.
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In other UMH Properties news, Director James E. Mitchell bought 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The stock was acquired at an average price of $25.00 per share, with a total value of $75,000.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at $75,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders purchased 3,759 shares of company stock valued at $87,006. 11.61% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in UMH. Bank of Montreal Can lifted its stake in UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after acquiring an additional 9,221 shares during the last quarter. Creative Planning lifted its stake in UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 4,200 shares during the last quarter. Aperio Group LLC lifted its stake in UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after acquiring an additional 617 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in UMH Properties in the second quarter valued at $904,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in UMH Properties by 3.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 317,000 shares of the real estate investment trust’s stock valued at $5,405,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 53.99% of the company’s stock.
Shares of UMH Properties (NYSE:UMH) traded up 2.02% during midday trading on Friday, hitting $16.14. 227,764 shares of the company’s stock were exchanged. The company has a 50-day moving average of $16.00 and a 200-day moving average of $15.91. The firm’s market cap is $547.07 million. UMH Properties has a 52 week low of $11.28 and a 52 week high of $17.90.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Friday, August 11th. UMH Properties’s dividend payout ratio (DPR) is currently -799.91%.
UMH Properties Company Profile
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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