UMH Properties (NYSE:UMH) Reaches New 1-Year High at $17.94

UMH Properties, Inc. (NYSE:UMH) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $17.94 and last traded at $17.91, with a volume of 54533 shares trading hands. The stock had previously closed at $17.70.

Analyst Upgrades and Downgrades

UMH has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and issued a $18.50 price target on shares of UMH Properties in a report on Thursday, May 30th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Wedbush reaffirmed a “neutral” rating and set a $17.00 price objective on shares of UMH Properties in a report on Monday, May 13th. Alliance Global Partners assumed coverage on UMH Properties in a report on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective for the company. Finally, William Blair reaffirmed a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.50.

UMH Properties Stock Up 1.6 %

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 50-day moving average price of $15.93 and a 200 day moving average price of $15.65.

UMH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, August 15th. UMH Properties’s dividend payout ratio is currently -573.30%.

Insider Activity

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

Institutional Investors Weigh In On UMH Properties

Institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in UMH Properties during the fourth quarter valued at about $2,930,000. Mutual of America Capital Management LLC acquired a new position in shares of UMH Properties during the fourth quarter worth about $1,377,000. Vanguard Group Inc. lifted its stake in shares of UMH Properties by 10.6% during the fourth quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock worth $100,212,000 after purchasing an additional 629,427 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of UMH Properties during the fourth quarter worth about $1,819,000. Finally, Knights of Columbus Asset Advisors LLC lifted its stake in shares of UMH Properties by 102.9% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 244,569 shares of the real estate investment trust’s stock worth $3,747,000 after purchasing an additional 124,019 shares in the last quarter. Hedge funds and other 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.