UMH PROPERTIES/SH SH (NYSE:UMH) Sees Large Increase in Short Interest

UMH PROPERTIES/SH SH (NYSE:UMH) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 751,100 shares, a growth of 8.3% from the June 30th total of 693,500 shares. Based on an average trading volume of 168,700 shares, the short-interest ratio is presently 4.5 days. Approximately 2.1% of the shares of the company are short sold.

Shares of NYSE UMH opened at $12.30 on Friday. The company has a quick ratio of 3.23, a current ratio of 3.23 and a debt-to-equity ratio of 4.57. The business’s 50 day moving average is $12.47 and its two-hundred day moving average is $13.13. The company has a market cap of $508.00 million, a P/E ratio of 20.16 and a beta of 1.02. UMH PROPERTIES/SH SH has a 12 month low of $8.63 and a 12 month high of $16.64.

UMH PROPERTIES/SH SH (NYSE:UMH) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($1.20). The business had revenue of $37.57 million during the quarter, compared to the consensus estimate of $38.36 million. UMH PROPERTIES/SH SH had a negative return on equity of 19.18% and a negative net margin of 16.68%. Sell-side analysts expect that UMH PROPERTIES/SH SH will post 0.63 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend is Friday, August 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is presently 114.29%.

A number of brokerages recently weighed in on UMH. B. Riley raised their price objective on UMH PROPERTIES/SH SH from $15.00 to $16.00 in a research note on Wednesday, June 10th. Zacks Investment Research downgraded UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.25.

Several institutional investors and hedge funds have recently modified their holdings of UMH. FMR LLC lifted its stake in shares of UMH PROPERTIES/SH SH by 197.8% during the first quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock valued at $21,962,000 after acquiring an additional 1,035,919 shares during the period. UBS Group AG lifted its stake in shares of UMH PROPERTIES/SH SH by 58.7% during the fourth quarter. UBS Group AG now owns 92,181 shares of the real estate investment trust’s stock valued at $1,450,000 after acquiring an additional 34,092 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of UMH PROPERTIES/SH SH by 2.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 62,710 shares of the real estate investment trust’s stock valued at $987,000 after acquiring an additional 1,706 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of UMH PROPERTIES/SH SH by 29.6% during the fourth quarter. Bank of New York Mellon Corp now owns 312,156 shares of the real estate investment trust’s stock valued at $4,910,000 after acquiring an additional 71,236 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of UMH PROPERTIES/SH SH by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 488,392 shares of the real estate investment trust’s stock valued at $7,682,000 after acquiring an additional 32,397 shares during the period. 63.84% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Why Net Income is Important to Investors

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