UMH Properties price target lowered to $20.50 from $22 at Maxim

Maxim analyst Michael Diana lowered the firm’s price target on UMH Properties (UMH) to $20.50 from $22 and keeps a Buy rating on the shares. The company’s Q1 FFO missed estimates, though its net operating income growth of 8% was above-peer, the analyst tells investors in a research note. Maxim remains positive on UMH given its announced pick-up in acquisition activity.