Avantax Advisory Services Inc. Has $491,000 Holdings in UMH Properties, Inc. (NYSE:UMH)

Avantax Advisory Services Inc. raised its position in UMH Properties, Inc. (NYSE:UMH) by 2.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,263 shares of the real estate investment trust’s stock after purchasing an additional 671 shares during the quarter. Avantax Advisory Services Inc.’s holdings in UMH Properties were worth $491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of UMH. Capital Research Global Investors lifted its position in UMH Properties by 124.5% during the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust’s stock worth $76,121,000 after buying an additional 2,236,080 shares in the last quarter. Raymond James Financial Inc. bought a new stake in UMH Properties during the fourth quarter worth about $23,396,000. Vanguard Group Inc. raised its holdings in UMH Properties by 11.9% during the fourth quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust’s stock worth $141,722,000 after acquiring an additional 799,798 shares in the last quarter. APG Asset Management US Inc. acquired a new position in UMH Properties during the fourth quarter valued at approximately $9,121,000. Finally, BROOKFIELD Corp ON boosted its position in UMH Properties by 202.7% during the fourth quarter. BROOKFIELD Corp ON now owns 666,534 shares of the real estate investment trust’s stock valued at $12,584,000 after purchasing an additional 446,371 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

Wall Street Analyst Weigh In

UMH has been the subject of a number of recent analyst reports. Maxim Group cut their price target on shares of UMH Properties from $22.00 to $20.50 and set a “buy” rating for the company in a research note on Monday, May 5th. Wedbush raised shares of UMH Properties to a “hold” rating in a report on Wednesday, July 2nd. B. Riley reiterated a “buy” rating on shares of UMH Properties in a research note on Tuesday, May 13th. Finally, Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a research report on Friday, July 18th.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $16.65 on Wednesday. The firm has a 50 day simple moving average of $16.86 and a 200 day simple moving average of $17.45. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 138.72, a PEG ratio of 2.74 and a beta of 1.13. UMH Properties, Inc. has a one year low of $15.74 and a one year high of $20.64. The company has a debt-to-equity ratio of 1.02, a current ratio of 6.98 and a quick ratio of 6.98.

UMH Properties Announces Dividend

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 issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.90 annualized dividend and a yield of 5.4%. UMH Properties’s payout ratio is presently 750.00%.

Insider Activity

In other news, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the completion of the sale, the director directly owned 215,427 shares in the company, valued at $3,705,344.40. This represents a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Samuel A. Landy sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the sale, the chief executive officer directly owned 1,140,265 shares of the company’s stock, valued at approximately $19,236,270.55. This trade represents a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 160,826 shares of company stock worth $2,745,314 over the last ninety days. Company insiders own 8.77% of the company’s stock.

UMH Properties 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.