UMH Properties, Inc. (NYSE:UMH) Sees Large Decrease in Short Interest

UMH Properties, Inc. (NYSE:UMH) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 931,300 shares, a drop of 17.6% from the November 15th total of 1,130,000 shares. Based on an average daily trading volume, of 451,900 shares, the short-interest ratio is currently 2.1 days.

UMH Properties Trading Down 0.5 %

NYSE:UMH traded down $0.10 during midday trading on Friday, hitting $19.37. 365,024 shares of the company traded hands, compared to its average volume of 416,043. The firm’s fifty day moving average is $19.09 and its 200-day moving average is $18.23. UMH Properties has a 12-month low of $14.09 and a 12-month high of $20.64. The firm has a market capitalization of $1.53 billion, a P/E ratio of 149.01, a P/E/G ratio of 3.46 and a beta of 1.29. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. During the same period last year, the company earned $0.22 EPS. On average, sell-side analysts predict that UMH Properties will post 0.93 EPS for the current year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, November 15th. UMH Properties’s payout ratio is currently 661.59%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, UMH Properties has an average rating of “Moderate Buy” and an average target price of $21.25.

Insider Activity at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 4.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the sale, the director now owns 7,993 shares of the company’s stock, valued at approximately $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,845 shares of company stock valued at $1,051,210 in the last 90 days. Corporate insiders own 8.63% of the company’s stock.

Institutional Investors Weigh In On UMH Properties

A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new stake in UMH Properties in the third quarter valued at about $675,000. Concurrent Investment Advisors LLC purchased a new stake in UMH Properties in the third quarter valued at about $614,000. Charles Schwab Investment Management Inc. raised its stake in UMH Properties by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,792 shares of the real estate investment trust’s stock valued at $18,505,000 after buying an additional 56,662 shares during the last quarter. Bank of New York Mellon Corp raised its stake in UMH Properties by 9.7% in the second quarter. Bank of New York Mellon Corp now owns 388,861 shares of the real estate investment trust’s stock valued at $6,218,000 after buying an additional 34,249 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in UMH Properties by 11.0% in the second quarter. Envestnet Asset Management Inc. now owns 421,850 shares of the real estate investment trust’s stock valued at $6,745,000 after buying an additional 41,774 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

UMH Properties Company Profile

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.