Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Position in UMH Properties, Inc. (NYSE:UMH)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in UMH Properties, Inc. (NYSE:UMH) by 20.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,834 shares of the real estate investment trust’s stock after selling 11,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.05% of UMH Properties worth $820,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of UMH Properties by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust’s stock valued at $141,722,000 after acquiring an additional 799,798 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in UMH Properties by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,251,335 shares of the real estate investment trust’s stock worth $99,146,000 after purchasing an additional 57,547 shares in the last quarter. Capital Research Global Investors grew its holdings in UMH Properties by 124.5% in the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust’s stock valued at $76,121,000 after purchasing an additional 2,236,080 shares during the period. Geode Capital Management LLC increased its position in shares of UMH Properties by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 1,838,555 shares of the real estate investment trust’s stock valued at $34,719,000 after buying an additional 134,761 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of UMH Properties during the 4th quarter worth approximately $23,396,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Analyst Ratings Changes

UMH has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating on shares of UMH Properties in a research note on Tuesday, May 13th. Maxim Group decreased their price objective on shares of UMH Properties from $22.00 to $20.50 and set a “buy” rating on the stock in a report on Monday, May 5th. Wedbush raised shares of UMH Properties to a “hold” rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen lowered shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

UMH Properties Stock Up 1.5%

NYSE UMH opened at $16.65 on Wednesday. The business has a fifty day moving average price of $16.86 and a 200 day moving average price of $17.45. The company has a debt-to-equity ratio of 1.02, a quick ratio of 6.98 and a current ratio of 6.98. The company has a market cap of $1.40 billion, a P/E ratio of 138.72, a P/E/G 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.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties’s dividend payout ratio (DPR) is currently 750.00%.

Insider Activity

In related news, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer owned 1,140,265 shares of the company’s stock, valued at approximately $19,236,270.55. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction dated 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 owned 215,427 shares of the company’s stock, valued at approximately $3,705,344.40. The trade was a 24.75% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,826 shares of company stock worth $2,745,314. Insiders own 8.77% of the company’s stock.

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.