Martingale Asset Management L P Has $495,000 Stake in UMH Properties, Inc. (NYSE:UMH)

Martingale Asset Management L P trimmed its holdings in shares of UMH Properties, Inc. (NYSE:UMHGet Rating) by 41.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,017 shares of the real estate investment trust’s stock after selling 19,600 shares during the period. Martingale Asset Management L P owned 0.05% of UMH Properties worth $495,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UMH. Oliver Lagore Vanvalin Investment Group acquired a new stake in UMH Properties during the 1st quarter valued at $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of UMH Properties in the 1st quarter valued at $58,000. Federated Hermes Inc. increased its stake in shares of UMH Properties by 150.4% in the 1st quarter. Federated Hermes Inc. now owns 3,197 shares of the real estate investment trust’s stock valued at $79,000 after buying an additional 1,920 shares during the period. Amalgamated Bank acquired a new stake in shares of UMH Properties in the 1st quarter valued at $164,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of UMH Properties in the 1st quarter valued at $235,000. 71.81% of the stock is owned by institutional investors and hedge funds.

UMH Properties Price Performance

Shares of UMH Properties stock opened at $17.68 on Wednesday. The company has a quick ratio of 6.10, a current ratio of 6.10 and a debt-to-equity ratio of 2.45. UMH Properties, Inc. has a 12 month low of $15.14 and a 12 month high of $27.50. The business has a fifty day simple moving average of $16.91 and a 200 day simple moving average of $18.23.

UMH Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Tuesday, November 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, November 14th. This represents a $0.80 annualized dividend and a yield of 4.52%. UMH Properties’s dividend payout ratio is presently -156.86%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. B. Riley lowered their target price on UMH Properties from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 11th. Wolfe Research assumed coverage on UMH Properties in a research note on Wednesday, October 12th. They issued an “outperform” rating and a $19.00 target price for the company. Maxim Group lowered their target price on UMH Properties from $28.00 to $22.00 in a research note on Monday, November 14th. Wedbush lowered their target price on UMH Properties from $27.50 to $21.00 in a research note on Thursday, November 10th. Finally, StockNews.com assumed coverage on UMH Properties in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, UMH Properties currently has a consensus rating of “Moderate Buy” and an average price target of $22.58.

Insiders Place Their Bets

In other UMH Properties news, Director Matthew I. Hirsch bought 3,207 shares of UMH Properties stock in a transaction on Tuesday, October 11th. The shares were purchased at an average cost of $15.57 per share, for a total transaction of $49,932.99. Following the completion of the acquisition, the director now owns 37,099 shares in the company, valued at approximately $577,631.43. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Over the last ninety days, insiders have acquired 3,387 shares of company stock worth $52,926. Corporate insiders own 9.23% of the company’s stock.

About UMH Properties

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UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

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Institutional Ownership by Quarter for UMH Properties (NYSE:UMH)

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