UMH Properties Inc (UMH) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 13 from a previous price target of $11 . Wunderlich advised their investors in a research report released on Aug 8, 2016.
UMH Properties Inc opened for trading at $12.25 and hit $12.37 on the upside on Friday, eventually ending the session at $12.25, with a gain of 2.25% or 0.27 points. The heightened volatility saw the trading volume jump to 1,16,838 shares. Company has a market cap of $339 M.
In a different news, on Jul 18, 2016, Matthew I Hirsch (director) purchased 851 shares at $11.75 per share price. According to the SEC, on Jun 23, 2016, Anna T Chew (CFO) purchased 5,000 shares at $10.00 per share price. On Jun 10, 2016, Eugene W Landy (Chairman of the Board) purchased 1,000 shares at $10.46 per share price, according to the Form-4 filing with the securities and exchange commission.
UMH Properties Inc. is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities leasing manufactured home sites on a month-to-month basis or year-to-year basis to private manufactured home owners. It also leases homes to residents and through its subsidiary UMH Sales and Finance Inc. (S&F) it sells homes to residents and prospective residents of its communities. It owns and operates around 98 manufactured home communities with approximately 17800 developed homesites. Its communities are located in New Jersey New York Ohio Pennsylvania Tennessee Indiana and Michigan. In addition the Company owns a portfolio of REIT securities. The Company’s subsidiaries include Allentown Mobile City Associates LP Brookview LP Heather Highlands Mobile Home Village Associates LP Kinnebrook Mobile Home Associates LP Oxford Village Homes LLC and Oxford Village Ltd.