Short Interest in UMH PROPERTIES/SH SH (NYSE:UMH) Increases By 44.3%

UMH PROPERTIES/SH SH (NYSE:UMH) was the target of a large increase in short interest in the month of July. As of July 31st, there was short interest totalling 555,100 shares, an increase of 44.3% from the June 30th total of 384,700 shares. Based on an average daily trading volume, of 160,800 shares, the days-to-cover ratio is currently 3.5 days. Currently, 1.7% of the company’s stock are sold short.

A number of equities research analysts have weighed in on UMH shares. Maxim Group started coverage on UMH PROPERTIES/SH SH in a research note on Thursday, June 6th. They set a “buy” rating and a $17.00 price objective for the company. DA Davidson restated a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. Zacks Investment Research lowered UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Finally, Compass Point started coverage on UMH PROPERTIES/SH SH in a research note on Monday, July 22nd. They set a “buy” rating and a $19.50 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $17.40.

NYSE:UMH traded up $0.04 during midday trading on Monday, reaching $12.39. 289,104 shares of the company traded hands, compared to its average volume of 151,964. UMH PROPERTIES/SH SH has a twelve month low of $11.14 and a twelve month high of $16.69. The stock has a market capitalization of $483.60 million, a price-to-earnings ratio of 16.74, a price-to-earnings-growth ratio of 1.86 and a beta of 0.63. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 3.05. The firm has a fifty day moving average of $12.66.

UMH PROPERTIES/SH SH (NYSE:UMH) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.32). The company had revenue of $37.23 million for the quarter, compared to analyst estimates of $36.26 million. UMH PROPERTIES/SH SH had a negative net margin of 23.38% and a negative return on equity of 21.88%. On average, sell-side analysts predict that UMH PROPERTIES/SH SH will post 0.68 earnings per share for the current year.

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 paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, August 14th. UMH PROPERTIES/SH SH’s payout ratio is currently 97.30%.

In related news, insider Umh Properties, Inc. bought 18,555 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $13.15 per share, for a total transaction of $243,998.25. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $13.20, for a total value of $105,600.00. Following the sale, the chairman now owns 623,243 shares in the company, valued at $8,226,807.60. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 19,422 shares of company stock worth $254,990. Company insiders own 10.84% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in UMH PROPERTIES/SH SH by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 238,081 shares of the real estate investment trust’s stock valued at $2,819,000 after acquiring an additional 14,658 shares during the period. Northern Trust Corp boosted its stake in UMH PROPERTIES/SH SH by 6.8% during the 4th quarter. Northern Trust Corp now owns 545,785 shares of the real estate investment trust’s stock worth $6,461,000 after purchasing an additional 34,576 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in UMH PROPERTIES/SH SH by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 464,806 shares of the real estate investment trust’s stock worth $5,503,000 after purchasing an additional 21,274 shares during the last quarter. Geode Capital Management LLC boosted its stake in UMH PROPERTIES/SH SH by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 380,343 shares of the real estate investment trust’s stock worth $4,503,000 after purchasing an additional 20,106 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new stake in UMH PROPERTIES/SH SH during the 4th quarter worth $193,000. 58.09% of the stock is currently owned by hedge funds and other institutional investors.

About UMH PROPERTIES/SH SH

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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