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 report released on Saturday morning.

Several other brokerages have also commented on UMH. B. Riley assumed coverage on shares of UMH Properties in a research note on Thursday, March 21st. They set a buy rating and a $18.50 price target on the stock. Wedbush restated a neutral rating and set a $17.00 price target on shares of UMH Properties in a research note on Monday, March 25th. Finally, Compass Point increased their price target on shares of UMH Properties from $20.00 to $21.50 and gave the stock a buy rating in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, UMH Properties has a consensus rating of Hold and a consensus target price of $19.00.

UMH Properties Trading Up 0.2 %

UMH stock opened at $15.66 on Friday. The company has a 50 day moving average of $15.59 and a two-hundred day moving average of $15.03. UMH Properties has a 12-month low of $13.26 and a 12-month high of $16.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be paid a $0.215 dividend. The ex-dividend date is Tuesday, May 14th. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 5.49%. UMH Properties’s dividend payout ratio (DPR) is presently -546.63%.

Insider Activity at UMH Properties

In related news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares in the company, valued at approximately $1,544,049.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.63% of the stock is currently owned by company insiders.

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue grew its position in UMH Properties by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 28,798 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 668 shares during the last quarter. Strs Ohio grew its position in UMH Properties by 6.1% in the 4th quarter. Strs Ohio now owns 12,200 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 700 shares during the last quarter. Arizona State Retirement System grew its position in UMH Properties by 5.4% in the 4th quarter. Arizona State Retirement System now owns 17,334 shares of the real estate investment trust’s stock worth $266,000 after purchasing an additional 894 shares during the last quarter. Bard Associates Inc. grew its position in UMH Properties by 2.2% in the 4th quarter. Bard Associates Inc. now owns 49,835 shares of the real estate investment trust’s stock worth $763,000 after purchasing an additional 1,060 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its position in UMH Properties by 7.5% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,615 shares of the real estate investment trust’s stock worth $254,000 after purchasing an additional 1,090 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

About UMH Properties

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.