UMH PROPERTIES/SH SH (UMH) Rating Lowered to Hold at Zacks Investment Research

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UMH PROPERTIES/SH SH (NYSE:UMH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 began coverage on shares of UMH PROPERTIES/SH SH in a research note on Monday, September 17th. They issued an “outperform” rating and a $19.50 target price for the company.

NYSE UMH opened at $14.66 on Thursday. The company has a market cap of $548.78 million, a PE ratio of 20.79, a price-to-earnings-growth ratio of 1.97 and a beta of 0.37. UMH PROPERTIES/SH SH has a 52-week low of $11.38 and a 52-week high of $16.69. The company has a debt-to-equity ratio of 2.22, a quick ratio of 5.21 and a current ratio of 5.21.

UMH PROPERTIES/SH SH (NYSE:UMH) last announced its earnings results on Tuesday, August 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.21. The company had revenue of $32.10 million during the quarter, compared to the consensus estimate of $32.03 million. UMH PROPERTIES/SH SH had a negative net margin of 8.17% and a negative return on equity of 5.62%. On average, equities analysts predict that UMH PROPERTIES/SH SH will post 0.75 earnings per share for the current year.

In other UMH PROPERTIES/SH SH news, General Counsel Craig Koster sold 3,500 shares of the firm’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $16.31, for a total value of $57,085.00. Following the completion of the transaction, the general counsel now owns 6,895 shares of the company’s stock, valued at $112,457.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $15.75, for a total transaction of $126,000.00. Following the completion of the transaction, the chairman now directly owns 622,292 shares of the company’s stock, valued at approximately $9,801,099. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 9,532 shares of company stock valued at $156,004. 10.89% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of UMH. Nisa Investment Advisors LLC purchased a new position in shares of UMH PROPERTIES/SH SH in the second quarter worth $139,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of UMH PROPERTIES/SH SH in the first quarter worth $160,000. State of Alaska Department of Revenue purchased a new position in shares of UMH PROPERTIES/SH SH in the third quarter worth $166,000. A.R.T. Advisors LLC purchased a new position in shares of UMH PROPERTIES/SH SH in the first quarter worth $199,000. Finally, SG Americas Securities LLC purchased a new position in shares of UMH PROPERTIES/SH SH in the second quarter worth $228,000. 58.00% of the stock is owned by institutional investors and hedge funds.

UMH PROPERTIES/SH SH Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 114 manufactured home communities containing approximately 20,600 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

Further Reading: Insider Trading

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