UMH Properties, Inc. (UMH) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of UMH Properties, Inc. (NYSE:UMH) from a strong sell rating to a hold rating in a research note released on Friday.

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. “

A number of other brokerages also recently commented on UMH. ValuEngine downgraded shares of UMH Properties from a buy rating to a hold rating in a research report on Thursday, July 13th. FBR & Co restated an outperform rating and issued a $18.50 price objective on shares of UMH Properties in a research report on Tuesday, July 11th. BidaskClub downgraded shares of UMH Properties from a buy rating to a hold rating in a research report on Saturday, July 8th. Janney Montgomery Scott began coverage on shares of UMH Properties in a research report on Friday, September 8th. They issued a buy rating for the company. Finally, DA Davidson began coverage on shares of UMH Properties in a research report on Friday, September 1st. They issued a buy rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $18.70.

UMH Properties (UMH) opened at 15.92 on Friday. The company has a 50 day moving average price of $15.69 and a 200 day moving average price of $16.19. The stock’s market cap is $539.61 million. UMH Properties has a 52 week low of $11.47 and a 52 week high of $17.90.

COPYRIGHT VIOLATION WARNING: “UMH Properties, Inc. (UMH) Raised to Hold at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2017/10/16/umh-properties-inc-umh-raised-to-hold-at-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.52%. UMH Properties’s payout ratio is currently -799.91%.

In other news, Director James E. Mitchell acquired 3,000 shares of UMH Properties stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average price of $25.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $75,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders purchased 3,134 shares of company stock valued at $76,993. 11.61% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of UMH. Creative Planning increased its holdings in UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares in the last quarter. Bank of Montreal Can increased its holdings in UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares in the last quarter. Aperio Group LLC increased its holdings in UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in UMH Properties in the second quarter valued at about $211,000. Finally, BlueCrest Capital Management Ltd purchased a new position in UMH Properties in the second quarter valued at about $214,000. 53.99% of the stock is owned by institutional investors.

UMH Properties Company Profile

UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.

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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. “

A number of other brokerages also recently commented on UMH. ValuEngine downgraded shares of UMH Properties from a buy rating to a hold rating in a research report on Thursday, July 13th. FBR & Co restated an outperform rating and issued a $18.50 price objective on shares of UMH Properties in a research report on Tuesday, July 11th. BidaskClub downgraded shares of UMH Properties from a buy rating to a hold rating in a research report on Saturday, July 8th. Janney Montgomery Scott began coverage on shares of UMH Properties in a research report on Friday, September 8th. They issued a buy rating for the company. Finally, DA Davidson began coverage on shares of UMH Properties in a research report on Friday, September 1st. They issued a buy rating and a $18.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $18.70.

UMH Properties (UMH) opened at 15.92 on Friday. The company has a 50 day moving average price of $15.69 and a 200 day moving average price of $16.19. The stock’s market cap is $539.61 million. UMH Properties has a 52 week low of $11.47 and a 52 week high of $17.90.

COPYRIGHT VIOLATION WARNING: “UMH Properties, Inc. (UMH) Raised to Hold at Zacks Investment Research” was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://ledgergazette.com/2017/10/16/umh-properties-inc-umh-raised-to-hold-at-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.72 dividend on an annualized basis and a yield of 4.52%. UMH Properties’s payout ratio is currently -799.91%.

In other news, Director James E. Mitchell acquired 3,000 shares of UMH Properties stock in a transaction that occurred on Friday, July 21st. The stock was purchased at an average price of $25.00 per share, for a total transaction of $75,000.00. Following the completion of the transaction, the director now directly owns 3,000 shares in the company, valued at $75,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders purchased 3,134 shares of company stock valued at $76,993. 11.61% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of UMH. Creative Planning increased its holdings in UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares in the last quarter. Bank of Montreal Can increased its holdings in UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares in the last quarter. Aperio Group LLC increased its holdings in UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in UMH Properties in the second quarter valued at about $211,000. Finally, BlueCrest Capital Management Ltd purchased a new position in UMH Properties in the second quarter valued at about $214,000. 53.99% of the stock is owned by institutional investors.

UMH Properties Company Profile

UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.

Get a free copy of the Zacks research report on UMH Properties (UMH)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for UMH Properties (NYSE:UMH)

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