UMH PROPERTIES/SH SH (UMH) Cut to Sell at Zacks Investment Research

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 Saturday, Zacks.com reports.

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 reaffirmed a buy rating and set a $19.50 price target on shares of UMH PROPERTIES/SH SH in a research note on Monday, March 11th.



Shares of NYSE UMH opened at $13.20 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.73 and a quick ratio of 2.73. The firm has a market cap of $524.30 million, a price-to-earnings ratio of 17.84, a PEG ratio of 1.84 and a beta of 0.74. 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 issued its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). The firm had revenue of $34.29 million for the quarter, compared to the consensus estimate of $34.67 million. UMH PROPERTIES/SH SH had a negative net margin of 13.68% and a negative return on equity of 11.83%. Equities research analysts forecast that UMH PROPERTIES/SH SH will post 0.72 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Tuesday, May 14th. UMH PROPERTIES/SH SH’s dividend payout ratio is presently 97.30%.

In other news, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $13.56, for a total transaction of $108,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Umh Properties, Inc. acquired 19,365 shares of UMH PROPERTIES/SH SH stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $12.60 per share, with a total value of $243,999.00. The disclosure for this purchase can be found here. Company insiders own 10.89% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in UMH. Ronna Sue Cohen boosted its stake in shares of UMH PROPERTIES/SH SH by 1,268.5% during the 1st quarter. Ronna Sue Cohen now owns 1,570,245 shares of the real estate investment trust’s stock worth $1,570,000 after acquiring an additional 1,455,503 shares in the last quarter. FMR LLC boosted its position in shares of UMH PROPERTIES/SH SH by 133,187.3% in the fourth quarter. FMR LLC now owns 523,819 shares of the real estate investment trust’s stock worth $6,203,000 after buying an additional 523,426 shares during the period. Investment Counselors of Maryland LLC boosted its position in shares of UMH PROPERTIES/SH SH by 109.3% in the fourth quarter. Investment Counselors of Maryland LLC now owns 918,300 shares of the real estate investment trust’s stock worth $10,873,000 after buying an additional 479,576 shares during the period. Vanguard Group Inc boosted its position in shares of UMH PROPERTIES/SH SH by 11.7% in the third quarter. Vanguard Group Inc now owns 3,459,170 shares of the real estate investment trust’s stock worth $54,101,000 after buying an additional 361,864 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of UMH PROPERTIES/SH SH by 11.7% in the third quarter. Vanguard Group Inc. now owns 3,459,170 shares of the real estate investment trust’s stock worth $54,101,000 after buying an additional 361,864 shares during the period. 55.17% 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 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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