Raymond James & Associates Raises Stake in UMH Properties, Inc. (NYSE:UMH)

Raymond James & Associates grew its holdings in UMH Properties, Inc. (NYSE:UMH) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 868,525 shares of the real estate investment trust’s stock after buying an additional 43,154 shares during the period. Raymond James & Associates owned 1.23% of UMH Properties worth $13,888,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in UMH. SRS Capital Advisors Inc. raised its stake in UMH Properties by 382.8% during the 4th quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,711 shares during the last quarter. EntryPoint Capital LLC increased its holdings in shares of UMH Properties by 843.9% in the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,806 shares during the period. Quadrant Capital Group LLC raised its stake in shares of UMH Properties by 52.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,856 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of UMH Properties by 1,440.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 7,391 shares during the period. Finally, New York Life Investment Management LLC purchased a new position in UMH Properties in the 4th quarter valued at $156,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on UMH. Wedbush raised their target price on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. B. Riley lifted their price objective on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. William Blair restated a “neutral” rating on shares of UMH Properties in a research note on Monday, May 13th. Finally, Alliance Global Partners started coverage on UMH Properties in a research report on Thursday, July 18th. They issued a “buy” rating and a $21.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

Insider Transactions at UMH Properties

In related 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 value of $375,250.00. Following the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at approximately $17,254,970.65. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Michael P. Landy acquired 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the transaction, the director now owns 341,796 shares in the company, valued at approximately $5,280,748.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the transaction, the chief executive officer now owns 1,149,565 shares in the company, valued at $17,254,970.65. The disclosure for this sale can be found here. Corporate insiders own 8.63% of the company’s stock.

UMH Properties Stock Performance

NYSE UMH opened at $19.58 on Friday. The business has a 50 day moving average price of $17.34 and a 200 day moving average price of $16.11. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.77 and a quick ratio of 6.77. The company has a market capitalization of $1.44 billion, a P/E ratio of -130.52, a PEG ratio of 3.53 and a beta of 1.29. UMH Properties, Inc. has a 1-year low of $13.26 and a 1-year high of $19.79.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. The firm had revenue of $60.33 million during the quarter, compared to analysts’ expectations of $59.84 million. During the same quarter in the prior year, the business earned $0.21 EPS. Sell-side analysts expect that UMH Properties, Inc. will post 0.92 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.39%. UMH Properties’s dividend payout ratio is presently -573.30%.

UMH Properties Company Profile

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.