Zacks Investment Research downgraded shares of UMH PROPERTIES/SH SH (NYSE:UMH) from a hold rating to a sell rating in a report published on Saturday.
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. “
UMH PROPERTIES/SH SH traded down $0.24, reaching $15.37, on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 83,625 shares, compared to its average volume of 131,439. UMH PROPERTIES/SH SH has a twelve month low of $11.38 and a twelve month high of $16.26. The company has a current ratio of 5.21, a quick ratio of 6.56 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $578.42 million, a price-to-earnings ratio of 21.65, a PEG ratio of 2.11 and a beta of 0.45.
UMH PROPERTIES/SH SH (NYSE:UMH) last issued its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.21. UMH PROPERTIES/SH SH had a negative net margin of 8.17% and a negative return on equity of 5.62%. The company had revenue of $32.10 million during the quarter, compared to the consensus estimate of $32.03 million. research analysts predict that UMH PROPERTIES/SH SH will post 0.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Wednesday, August 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Tuesday, August 14th. UMH PROPERTIES/SH SH’s payout ratio is 101.41%.
In other UMH PROPERTIES/SH SH news, insider Umh Properties, Inc. purchased 10,505 shares of the business’s stock in a transaction on Friday, June 15th. The stock was bought at an average cost of $14.66 per share, with a total value of $154,003.30. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 12,891 shares of company stock valued at $188,519 over the last three months. 10.89% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in UMH PROPERTIES/SH SH by 2.1% during the 2nd quarter. BlackRock Inc. now owns 2,477,575 shares of the real estate investment trust’s stock worth $38,031,000 after buying an additional 50,665 shares during the period. Boulegeris Investments Inc. raised its stake in UMH PROPERTIES/SH SH by 6.1% during the 1st quarter. Boulegeris Investments Inc. now owns 1,912,108 shares of the real estate investment trust’s stock valued at $25,641,000 after buying an additional 110,773 shares during the last quarter. Wells Fargo & Company MN raised its stake in UMH PROPERTIES/SH SH by 5.2% during the 1st quarter. Wells Fargo & Company MN now owns 1,138,796 shares of the real estate investment trust’s stock valued at $15,271,000 after buying an additional 56,190 shares during the last quarter. Russell Investments Group Ltd. raised its stake in UMH PROPERTIES/SH SH by 3,700.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 481,298 shares of the real estate investment trust’s stock valued at $7,386,000 after buying an additional 468,633 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in UMH PROPERTIES/SH SH by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,392 shares of the real estate investment trust’s stock valued at $6,775,000 after buying an additional 13,417 shares during the last quarter. 53.89% of the stock is owned by institutional investors.
UMH PROPERTIES/SH SH Company Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 112 manufactured home communities containing approximately 20,000 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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