Envestnet Asset Management Inc. Purchases 1,047 Shares of UMH Properties, Inc. (NYSE:UMH)

Envestnet Asset Management Inc. lifted its stake in UMH Properties, Inc. (NYSE:UMH) by 0.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 434,293 shares of the real estate investment trust’s stock after acquiring an additional 1,047 shares during the quarter. Envestnet Asset Management Inc. owned 0.53% of UMH Properties worth $8,121,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of UMH Properties by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust’s stock valued at $883,000 after buying an additional 918 shares during the last quarter. Corebridge Financial Inc. raised its position in shares of UMH Properties by 3.7% during the fourth quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust’s stock valued at $679,000 after buying an additional 1,286 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of UMH Properties during the fourth quarter valued at approximately $26,000. Principal Financial Group Inc. raised its position in shares of UMH Properties by 3.6% during the first quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust’s stock valued at $726,000 after buying an additional 1,362 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its position in shares of UMH Properties by 22.0% during the fourth quarter. Summit Investment Advisors Inc. now owns 7,564 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 1,365 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wedbush upgraded shares of UMH Properties to a “hold” rating in a research report on Wednesday, July 2nd. Wall Street Zen cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research report on Friday. Maxim Group reduced their price target on shares of UMH Properties from $22.00 to $20.50 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, B. Riley reiterated a “buy” rating on shares of UMH Properties in a research report on Tuesday, May 13th.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $16.96 on Tuesday. UMH Properties, Inc. has a twelve month low of $15.74 and a twelve month high of $20.64. The company’s 50 day moving average is $16.90 and its 200 day moving average is $17.57. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 1.02. The company has a market cap of $1.43 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.10.

UMH Properties (NYSE:UMH) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. The firm had revenue of $61.23 million for the quarter, compared to analyst estimates of $62.82 million. On average, sell-side analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Friday, August 15th. UMH Properties’s dividend payout ratio (DPR) is presently 750.00%.

Insider Transactions at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the chief executive officer directly owned 1,140,265 shares of the company’s stock, valued at $19,236,270.55. The trade was a 2.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Edward Mitchell sold 39,974 shares of UMH Properties stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $16.94, for a total value of $677,159.56. Following the completion of the transaction, the director directly owned 115,627 shares of the company’s stock, valued at approximately $1,958,721.38. This represents a 25.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,826 shares of company stock valued at $2,745,314 over the last three months. Corporate insiders own 8.77% of the company’s stock.

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.