Zacks Investment Research Lowers UMH PROPERTIES/SH SH (UMH) to Sell

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Zacks Investment Research cut shares of UMH PROPERTIES/SH SH (NYSE:UMH) from a hold rating to a sell rating in a report issued on Wednesday.

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. “

Other equities analysts have also issued research reports about the company. Boenning Scattergood set a $20.00 price target on UMH PROPERTIES/SH SH and gave the stock a buy rating in a research report on Monday, November 5th. B. Riley lowered their price target on UMH PROPERTIES/SH SH from $17.00 to $16.00 and set a buy rating for the company in a research report on Monday, November 5th. Finally, ValuEngine raised UMH PROPERTIES/SH SH from a hold rating to a buy rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. UMH PROPERTIES/SH SH currently has an average rating of Buy and an average price target of $17.33.

UMH opened at $13.25 on Wednesday. The company has a quick ratio of 4.12, a current ratio of 4.12 and a debt-to-equity ratio of 2.44. The stock has a market capitalization of $507.73 million, a PE ratio of 18.72, a P/E/G ratio of 1.90 and a beta of 0.48. UMH PROPERTIES/SH SH has a 1 year low of $11.38 and a 1 year high of $16.69.

UMH PROPERTIES/SH SH (NYSE:UMH) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.28). The company had revenue of $33.45 million during the quarter, compared to analysts’ expectations of $32.20 million. UMH PROPERTIES/SH SH had a negative return on equity of 14.43% and a negative net margin of 19.73%. Sell-side analysts forecast that UMH PROPERTIES/SH SH will post 0.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 5.43%. The ex-dividend date of this dividend is Wednesday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio is presently 101.41%.

In other UMH PROPERTIES/SH SH news, insider Umh Properties, Inc. bought 9,396 shares of the firm’s stock in a transaction on Monday, September 17th. The stock was acquired at an average price of $16.39 per share, with a total value of $154,000.44. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Craig Koster sold 3,500 shares of the business’s stock in a transaction dated Friday, August 17th. The stock was 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 directly owns 6,895 shares of the company’s stock, valued at approximately $112,457.45. The disclosure for this sale can be found here. In the last ninety days, insiders bought 9,532 shares of company stock valued at $156,004. 10.89% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Loeb Partners Corp raised its position in UMH PROPERTIES/SH SH by 21.5% in the 3rd quarter. Loeb Partners Corp now owns 113,008 shares of the real estate investment trust’s stock worth $1,770,000 after buying an additional 20,000 shares during the last quarter. BlackRock Inc. raised its position in UMH PROPERTIES/SH SH by 1.6% in the 3rd quarter. BlackRock Inc. now owns 2,517,828 shares of the real estate investment trust’s stock worth $39,378,000 after buying an additional 40,253 shares during the last quarter. Swiss National Bank raised its position in UMH PROPERTIES/SH SH by 7.3% in the 3rd quarter. Swiss National Bank now owns 57,300 shares of the real estate investment trust’s stock worth $896,000 after buying an additional 3,900 shares during the last quarter. Montag A & Associates Inc. purchased a new position in UMH PROPERTIES/SH SH in the 3rd quarter worth about $12,673,000. Finally, Investment Counselors of Maryland LLC purchased a new position in UMH PROPERTIES/SH SH in the 3rd quarter worth about $6,862,000. 53.58% of the stock is owned by institutional investors and hedge funds.

About UMH PROPERTIES/SH SH

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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