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 equities research analysts also recently weighed in on the company. TheStreet upgraded UMH PROPERTIES/SH SH from a d+ rating to a c- rating in a research report on Thursday. Compass Point assumed coverage on UMH PROPERTIES/SH SH in a research report on Monday, July 22nd. They issued a buy rating and a $19.50 target price for the company. DA Davidson restated a buy rating on shares of UMH PROPERTIES/SH SH in a research report on Monday, July 29th. Finally, Maxim Group set a $17.00 target price on UMH PROPERTIES/SH SH and gave the stock a buy rating in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $17.40.
UMH PROPERTIES/SH SH (NYSE:UMH) last released its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.32). The firm had revenue of $37.23 million during the quarter, compared to analyst estimates of $36.26 million. UMH PROPERTIES/SH SH had a negative return on equity of 22.16% and a negative net margin of 23.38%. As a group, equities analysts expect that UMH PROPERTIES/SH SH will post 0.68 EPS for the current fiscal year.
In related news, Director Steven B. Wolgin acquired 2,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was bought at an average price of $11.80 per share, for a total transaction of $29,500.00. Following the transaction, the director now owns 34,441 shares of the company’s stock, valued at $406,403.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Umh Properties, Inc. acquired 17,810 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average price of $13.70 per share, with a total value of $243,997.00. The disclosure for this purchase can be found here. Insiders acquired 22,082 shares of company stock valued at $295,496 over the last 90 days. 10.84% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new stake in shares of UMH PROPERTIES/SH SH during the 2nd quarter valued at $297,000. Nuveen Asset Management LLC acquired a new stake in shares of UMH PROPERTIES/SH SH during the 2nd quarter valued at $2,340,000. Price T Rowe Associates Inc. MD lifted its position in shares of UMH PROPERTIES/SH SH by 29.2% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 30,689 shares of the real estate investment trust’s stock valued at $381,000 after acquiring an additional 6,938 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of UMH PROPERTIES/SH SH by 11.0% during the 2nd quarter. Victory Capital Management Inc. now owns 109,127 shares of the real estate investment trust’s stock valued at $1,354,000 after acquiring an additional 10,827 shares during the last quarter. Finally, Citadel Advisors LLC lifted its position in shares of UMH PROPERTIES/SH SH by 52.4% during the 2nd quarter. Citadel Advisors LLC now owns 157,568 shares of the real estate investment trust’s stock valued at $1,956,000 after acquiring an additional 54,208 shares during the last quarter. Institutional investors own 60.19% 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 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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