Cerity Partners LLC Invests $2.93 Million in UMH Properties, Inc. (NYSE:UMH)

Cerity Partners LLC acquired a new stake in UMH Properties, Inc. (NYSE:UMH) in the 4th quarter, Holdings Channel.com reports. The fund acquired 191,234 shares of the real estate investment trust’s stock, valued at approximately $2,930,000.

Several other hedge funds have also added to or reduced their stakes in UMH. Mutual of America Capital Management LLC acquired a new position in shares of UMH Properties during the fourth quarter worth $1,377,000. International Assets Investment Management LLC grew its position in shares of UMH Properties by 1,440.7% in the 4th quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock valued at $121,000 after buying an additional 7,391 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of UMH Properties by 11.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,635 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 2,780 shares during the period. Asset Management One Co. Ltd. raised its position in shares of UMH Properties by 4.5% during the fourth quarter. Asset Management One Co. Ltd. now owns 94,317 shares of the real estate investment trust’s stock worth $1,468,000 after acquiring an additional 4,068 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of UMH Properties by 5.4% in the fourth quarter. Arizona State Retirement System now owns 17,334 shares of the real estate investment trust’s stock worth $266,000 after acquiring an additional 894 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

UMH has been the subject of several analyst reports. Compass Point raised their price target on shares of UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wedbush reaffirmed a “neutral” rating and set a $17.00 price target on shares of UMH Properties in a research report on Monday, March 25th. B. Riley began coverage on UMH Properties in a research note on Thursday, March 21st. They issued a “buy” rating and a $18.50 price objective on the stock. Finally, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.00.

UMH Properties Price Performance

UMH Properties stock opened at $15.17 on Thursday. The company has a quick ratio of 6.52, a current ratio of 6.52 and a debt-to-equity ratio of 1.66. UMH Properties, Inc. has a 1-year low of $13.26 and a 1-year high of $16.85. The firm’s fifty day moving average price is $15.46 and its two-hundred day moving average price is $14.95.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be paid a $0.215 dividend. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 annualized dividend and a dividend yield of 5.67%. UMH Properties’s dividend payout ratio is presently -546.63%.

Insider Activity at UMH Properties

In other UMH Properties news, COO Brett Taft sold 9,800 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.63% of the stock is owned by insiders.

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.