UMH Properties, Inc. (NYSE:UMH) Sees Significant Growth in Short Interest

UMH Properties, Inc. (NYSE:UMH) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 994,800 shares, a growth of 28.1% from the May 31st total of 776,600 shares. Based on an average trading volume of 352,400 shares, the short-interest ratio is presently 2.8 days.

UMH Properties Stock Performance

UMH Properties stock opened at $16.04 on Tuesday. UMH Properties has a 52-week low of $13.26 and a 52-week high of $16.85. 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 fifty day moving average price of $15.53 and a two-hundred day moving average price of $15.43. The firm has a market capitalization of $1.13 billion, a P/E ratio of -106.93, a P/E/G ratio of 2.93 and a beta of 1.29.

Analyst Ratings Changes

A number of brokerages have recently commented on UMH. Compass Point upped their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the company a “buy” rating in a research report on Thursday, March 21st. William Blair reiterated a “neutral” rating on shares of UMH Properties in a research report on Monday, May 13th. Wedbush restated a “neutral” rating and set a $17.00 price objective on shares of UMH Properties in a research report on Monday, May 13th. B. Riley reaffirmed a “buy” rating and issued a $18.50 target price on shares of UMH Properties in a research report on Thursday, May 30th. Finally, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.00.

Insider Activity at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at $17,254,970.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Samuel A. Landy sold 25,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,149,565 shares in the company, valued at approximately $17,254,970.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the completion of the transaction, the chief operating officer now directly owns 97,049 shares in the company, valued at $1,544,049.59. The disclosure for this sale can be found here. 8.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On UMH Properties

Several institutional investors have recently added to or reduced their stakes in UMH. Vanguard Group Inc. increased its holdings 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 buying an additional 629,427 shares in the last quarter. American Century Companies Inc. raised its position in UMH Properties by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock valued at $35,501,000 after purchasing an additional 576,304 shares during the last quarter. Private Management Group Inc. boosted its stake in UMH Properties by 27.1% in the fourth quarter. Private Management Group Inc. now owns 1,316,789 shares of the real estate investment trust’s stock worth $20,173,000 after purchasing an additional 280,436 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of UMH Properties by 0.4% during the first quarter. Jennison Associates LLC now owns 1,305,618 shares of the real estate investment trust’s stock worth $21,203,000 after purchasing an additional 5,015 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of UMH Properties by 24.1% in the first quarter. Raymond James & Associates now owns 825,371 shares of the real estate investment trust’s stock valued at $13,404,000 after buying an additional 160,503 shares in the last quarter. 75.40% of the stock is owned by institutional investors.

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.