UMH Properties (NYSE:UMH) Hits New 1-Year High at $18.04

UMH Properties, Inc. (NYSE:UMH)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $18.04 and last traded at $18.03, with a volume of 120002 shares trading hands. The stock had previously closed at $17.73.

Analysts Set New Price Targets

Several research analysts recently issued reports on UMH shares. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. B. Riley reaffirmed a “buy” rating and set a $18.50 price target on shares of UMH Properties in a research note on Thursday, May 30th. William Blair restated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Alliance Global Partners initiated coverage on UMH Properties in a report on Thursday, July 18th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and set a $17.00 price target on shares of UMH Properties in a research note on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.50.

UMH Properties Stock Up 0.2 %

The company has a market cap of $1.25 billion, a P/E ratio of -118.39, a price-to-earnings-growth ratio of 3.22 and a beta of 1.29. The company has a debt-to-equity ratio of 1.59, a current ratio of 6.82 and a quick ratio of 6.82. The stock has a fifty day moving average price of $16.08 and a two-hundred day moving average price of $15.70.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.84%. The ex-dividend date is Thursday, August 15th. UMH Properties’s dividend payout ratio (DPR) is presently -573.30%.

Insiders Place Their Bets

In other news, Director Michael P. Landy purchased 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were bought at an average cost of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other UMH Properties news, Director Michael P. Landy purchased 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was bought at an average cost of $15.45 per share, with a total value of $72,615.00. Following the completion of the transaction, the director now owns 341,796 shares of the company’s stock, valued at approximately $5,280,748.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the sale, the chief executive officer now owns 1,149,565 shares in the company, valued at $17,254,970.65. The disclosure for this sale can be found here. Insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On UMH Properties

Institutional investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. boosted its stake in UMH Properties by 382.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,711 shares during the last quarter. EntryPoint Capital LLC grew its holdings in UMH Properties by 843.9% during the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,806 shares during the period. Ridgewood Investments LLC purchased a new stake in UMH Properties in the second quarter worth $71,000. Quadrant Capital Group LLC raised its stake in shares of UMH Properties by 52.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,856 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of UMH Properties by 1,440.7% during the 4th quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 7,391 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

About UMH Properties

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.