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 issued 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 reiterated a “buy” rating and set a $19.50 price objective on shares of UMH PROPERTIES/SH SH in a research note on Monday, March 11th.

Shares of UMH opened at $13.56 on Thursday. The firm has a market capitalization of $525.83 million, a price-to-earnings ratio of 18.32, a PEG ratio of 1.62 and a beta of 0.76. The company has a debt-to-equity ratio of 3.23, a quick ratio of 4.16 and a current ratio of 4.16. UMH PROPERTIES/SH SH has a 1 year low of $11.14 and a 1 year high of $16.69.

UMH PROPERTIES/SH SH (NYSE:UMH) last released its quarterly earnings data on Thursday, March 7th. The real estate investment trust reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.83). UMH PROPERTIES/SH SH had a negative net margin of 43.63% and a negative return on equity of 35.79%. The company had revenue of $34.25 million for the quarter, compared to the consensus estimate of $33.35 million. Research analysts anticipate that UMH PROPERTIES/SH SH will post 0.83 earnings per share for the current fiscal year.

In related news, insider Umh Properties, Inc. acquired 11,958 shares of the firm’s stock in a transaction that occurred on Monday, December 17th. The shares were bought at an average cost of $13.72 per share, for a total transaction of $164,063.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have purchased 12,124 shares of company stock worth $166,066. 10.89% of the stock is currently owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new stake in shares of UMH PROPERTIES/SH SH during the 4th quarter valued at $33,000. PNC Financial Services Group Inc. bought a new stake in shares of UMH PROPERTIES/SH SH during the 4th quarter valued at $52,000. Great West Life Assurance Co. Can raised its stake in shares of UMH PROPERTIES/SH SH by 44.0% during the 4th 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 purchasing an additional 1,816 shares during the period. Legal & General Group Plc raised its stake in shares of UMH PROPERTIES/SH SH by 32.0% during the 4th quarter. Legal & General Group Plc now owns 6,547 shares of the real estate investment trust’s stock valued at $78,000 after purchasing an additional 1,589 shares during the period. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of UMH PROPERTIES/SH SH by 181.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,855 shares of the real estate investment trust’s stock valued at $140,000 after purchasing an additional 7,638 shares during the period. Institutional investors own 58.23% of the company’s stock.

UMH PROPERTIES/SH SH Company Profile

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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