ValuEngine Upgrades UMH PROPERTIES/SH SH (UMH) to “Buy”

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UMH PROPERTIES/SH SH (NYSE:UMH) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a report released on Monday.

UMH has been the subject of several other reports. Zacks Investment Research raised UMH PROPERTIES/SH SH from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Boenning Scattergood began coverage on UMH PROPERTIES/SH SH in a research report on Monday, September 17th. They issued an “outperform” rating and a $19.50 target price for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $17.17.

Shares of NYSE:UMH opened at $14.68 on Monday. The company has a debt-to-equity ratio of 2.22, a current ratio of 5.21 and a quick ratio of 5.21. The stock has a market cap of $538.03 million, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.94 and a beta of 0.37. UMH PROPERTIES/SH SH has a 12-month low of $11.38 and a 12-month high of $16.69.

UMH PROPERTIES/SH SH (NYSE:UMH) last issued its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.21. The firm 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 return on equity of 5.62% and a negative net margin of 8.17%. On average, sell-side analysts forecast that UMH PROPERTIES/SH SH will post 0.75 EPS for the current year.

In other UMH PROPERTIES/SH SH news, Chairman Eugene W. Landy sold 8,000 shares of UMH PROPERTIES/SH SH stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $15.75, for a total value 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Umh Properties, Inc. bought 9,396 shares of the company’s stock in a transaction on Monday, September 17th. The stock was purchased at an average cost of $16.39 per share, with a total value of $154,000.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,532 shares of company stock valued at $156,004. 10.89% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Boulegeris Investments Inc. boosted its stake in shares of UMH PROPERTIES/SH SH by 3.6% in the 2nd quarter. Boulegeris Investments Inc. now owns 1,980,920 shares of the real estate investment trust’s stock valued at $30,407,000 after buying an additional 68,812 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of UMH PROPERTIES/SH SH by 3,700.2% in the 2nd quarter. Russell Investments Group Ltd. now owns 481,298 shares of the real estate investment trust’s stock valued at $7,386,000 after buying an additional 468,633 shares during the period. Royal Bank of Canada boosted its stake in shares of UMH PROPERTIES/SH SH by 5.0% in the 1st quarter. Royal Bank of Canada now owns 303,566 shares of the real estate investment trust’s stock valued at $4,070,000 after buying an additional 14,376 shares during the period. BlackRock Inc. boosted its stake in shares of UMH PROPERTIES/SH SH by 2.1% in the 2nd quarter. BlackRock Inc. now owns 2,477,575 shares of the real estate investment trust’s stock valued at $38,031,000 after buying an additional 50,665 shares during the period. Finally, Ronna Sue Cohen purchased a new position in shares of UMH PROPERTIES/SH SH in the 3rd quarter valued at about $1,783,000. Institutional investors and hedge funds own 53.51% 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 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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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