UMH Properties (NYSE:UMH) Sets New 12-Month Low After Insider Selling

UMH Properties, Inc. (NYSE:UMH) reached a new 52-week low on Friday following insider selling activity. The company traded as low as $15.70 and last traded at $15.96, with a volume of 984614 shares trading hands. The stock had previously closed at $16.00.

Specifically, Director William Edward Mitchell sold 75,849 shares of the firm’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the transaction, the director directly owned 41,368 shares of the company’s stock, valued at approximately $675,125.76. This trade represents a 64.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Samuel A. Landy sold 45,700 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.40, for a total transaction of $749,480.00. Following the transaction, the chief executive officer directly owned 1,101,283 shares in the company, valued at $18,061,041.20. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several analysts have recently commented on the stock. B. Riley restated a “buy” rating on shares of UMH Properties in a research note on Tuesday, May 13th. Maxim Group reduced their target price 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 upgraded shares of UMH Properties to a “hold” rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th.

UMH Properties Price Performance

The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. The company’s 50 day moving average is $16.79 and its 200 day moving average is $17.35. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 114.00, a PEG ratio of 2.75 and a beta of 1.13.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The company had revenue of $66.64 million during the quarter, compared to analyst estimates of $66.07 million. Research analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $0.225 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.90 annualized dividend and a dividend yield of 5.6%. UMH Properties’s dividend payout ratio (DPR) is 642.86%.

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently made changes to their positions in UMH. T. Rowe Price Investment Management Inc. raised its position in UMH Properties by 1.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust’s stock worth $99,569,000 after acquiring an additional 73,196 shares during the last quarter. Capital Research Global Investors raised its position in UMH Properties by 124.5% during the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust’s stock worth $76,121,000 after acquiring an additional 2,236,080 shares during the last quarter. American Century Companies Inc. raised its position in UMH Properties by 13.5% during the second quarter. American Century Companies Inc. now owns 2,389,308 shares of the real estate investment trust’s stock worth $40,116,000 after acquiring an additional 283,700 shares during the last quarter. Geode Capital Management LLC raised its position in UMH Properties by 5.5% during the second quarter. Geode Capital Management LLC now owns 1,999,240 shares of the real estate investment trust’s stock worth $33,571,000 after acquiring an additional 103,446 shares during the last quarter. Finally, Jennison Associates LLC raised its position in UMH Properties by 10.9% during the second quarter. Jennison Associates LLC now owns 1,536,362 shares of the real estate investment trust’s stock worth $25,796,000 after acquiring an additional 150,718 shares during the last quarter. Institutional investors and hedge funds own 75.40% 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.