UMH Properties, Inc. (NYSE:UMH – Get Free Report) Chief Operating Officer Brett Taft recently sold 9,800 shares of UMH Properties stock on Wednesday, April 3rd. The stocks were sold at an average price of $15.91, totaling $155,918.00. After this transaction, the COO now owns 97,049 shares of the company’s stock, valued at $1,544,049.59. This sale was disclosed in a legal filing with the SEC, accessible through this link.
UMH Properties Stock Performance
UMH stock experienced slight downward movement of $0.22 during Friday’s mid-day trading, reaching $15.61. The stock traded 310,877 shares, slightly below the average volume of 369,910. With a 50-day moving average of $15.35 and a 200-day moving average of $14.85, the company shows a current ratio of 6.52, a quick ratio of 6.52, and a debt-to-equity ratio of 1.66. UMH Properties, Inc. has a market capitalization of $1.08 billion, with a price-to-earnings ratio of -104.00 and a beta of 1.24. The stock’s 1-year low was $13.26, and the high was $16.85.
UMH Properties Increases Dividend
The company recently announced an increased quarterly dividend scheduled for payment on Monday, June 17th. Shareholders of record by Wednesday, May 15th, will receive a dividend of $0.215 per share, resulting in a $0.86 annualized dividend with a 5.51% yield. This marks an increase from the previous quarterly dividend of $0.21, with an ex-dividend date of Tuesday, May 14th. UMH Properties’s dividend payout ratio (DPR) currently stands at -573.33%.
Analysts Set New Price Targets
Recent reports from various brokerages provide insight on UMH Properties. StockNews.com downgraded UMH Properties from a “hold” to a “sell” rating on Tuesday, March 26th. Compass Point raised UMH Properties’ price target to $21.50 from $20.00, giving the company a “buy” rating on Thursday, March 21st. Wedbush reaffirmed a “neutral” rating with a $17.00 price target on UMH Properties shares on Monday, March 25th. Additionally, B. Riley initiated coverage on UMH Properties on Thursday, March 21st, providing a “buy” rating and a $18.50 price target. While one analyst rates the stock as sell, two recommend holding, and two suggest buying, MarketBeat data indicates an average price target of $19.00 with a consensus rating of “Hold.”
Get Our Latest Stock Analysis on UMH
Institutional Trading of UMH Properties
Several hedge funds and institutional investors recently traded UMH shares. Private Management Group Inc. boosted its UMH Properties holdings by 609.8% in the third quarter, now owning 1,036,353 shares valued at $14,530,000 after acquiring an additional 890,355 shares. BlackRock Inc. increased its UMH Properties holdings by 22.9% in the second quarter, now owning 4,759,328 shares valued at $76,054,000 after acquiring an additional 886,892 shares. Vanguard Group Inc. saw a 10.6% increase in UMH Properties shares during the fourth quarter, now owning 6,541,226 shares valued at $100,212,000 after acquiring an additional 629,427 shares. American Century Companies Inc. increased its UMH Properties shares by 29.5% in the third quarter, now owning 2,532,194 shares valued at $35,501,000 after acquiring an additional 576,304 shares. Lastly, JPMorgan Chase & Co. saw a 106.2% rise in UMH Properties shares during the fourth quarter, now owning 923,943 shares valued at $14,875,000 after acquiring an additional 475,945 shares. Institutional investors and hedge funds hold 75.40% of UMH Properties shares.
About UMH Properties
(Get Free Report)Established in 1968, UMH Properties, Inc. is a public equity REIT that owns and operates 135 manufactured home communities with around 25,800 developed homesites. These communities are spread across New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, and Georgia.
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Frequently Asked Questions (FAQs)
What does the recent transaction involving UMH Properties entail?
The recent transaction involves UMH Properties’ Chief Operating Officer, Brett Taft, selling 9,800 shares of UMH Properties stock. This transaction took place on April 3rd, with the shares being sold at an average price of $15.91.
How has UMH Properties stock been performing lately?
UMH stock experienced slight downward movement during mid-day trading on Friday, reaching $15.61. The stock had a trading volume of 310,877 shares, slightly below its average volume.
What dividend changes have been announced by UMH Properties?
UMH Properties recently announced an increased quarterly dividend, with shareholders of record receiving $0.215 per share on June 17th. This represents a positive change from the previous dividend of $0.21.
What do analysts say about UMH Properties?
According to various brokerages, UMH Properties has received differing ratings. While some analysts rate the stock as sell, others recommend holding or buying. The average price target for UMH Properties is $19.00 with a consensus rating of “Hold.”
Where are UMH Properties’ manufactured home communities located?
UMH Properties owns and operates 135 manufactured home communities with around 25,800 developed homesites. These communities are spread across various states including New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina, and Georgia.
