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

UMH Properties, Inc. (NYSE:UMH) shares hit 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 traded. The stock had previously closed at $17.70.

Analyst Ratings Changes

Several research analysts recently weighed in on UMH shares. Wedbush restated a “neutral” rating and issued a $17.00 price objective on shares of UMH Properties in a research report on Monday, May 13th. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. William Blair restated a “neutral” rating on shares of UMH Properties in a research report on Monday, May 13th. B. Riley reiterated a “buy” rating and set a $18.50 target price on shares of UMH Properties in a research report on Thursday, May 30th. Finally, Alliance Global Partners began coverage on shares of UMH Properties in a research report on Thursday, July 18th. They set a “buy” rating and a $21.00 target price for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.50.

UMH Properties Price Performance

The firm’s 50-day simple moving average is $15.93 and its 200 day simple moving average is $15.65. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.59.

UMH Properties Announces Dividend

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

Insider Activity at UMH Properties

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

Hedge Funds Weigh In On UMH Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UMH. Vanguard Group Inc. boosted its stake in UMH Properties by 10.6% in the 4th 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 during the period. Kennedy Capital Management LLC boosted its stake in shares of UMH Properties by 245.9% during the 1st quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust’s stock worth $10,789,000 after buying an additional 472,307 shares during the last quarter. Private Management Group Inc. boosted its stake in shares of UMH Properties by 27.1% during the 4th quarter. Private Management Group Inc. now owns 1,316,789 shares of the real estate investment trust’s stock worth $20,173,000 after buying an additional 280,436 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of UMH Properties during the 4th quarter worth about $2,930,000. Finally, Raymond James & Associates boosted its stake in shares of UMH Properties by 24.1% during the 1st quarter. Raymond James & Associates now owns 825,371 shares of the real estate investment trust’s stock worth $13,404,000 after buying an additional 160,503 shares during the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

About UMH Properties

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.