Rhumbline Advisers Trims Stock Position in UMH Properties, Inc. $UMH

Rhumbline Advisers lowered its position in shares of UMH Properties, Inc. (NYSE:UMH) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,392 shares of the real estate investment trust’s stock after selling 2,025 shares during the period. Rhumbline Advisers owned 0.14% of UMH Properties worth $2,233,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. grew its stake in UMH Properties by 1.4% in the 1st 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 buying an additional 73,196 shares in the last quarter. American Century Companies Inc. grew its stake in UMH Properties by 0.5% in the 1st quarter. American Century Companies Inc. now owns 2,105,608 shares of the real estate investment trust’s stock worth $39,375,000 after buying an additional 10,602 shares in the last quarter. Northern Trust Corp grew its stake in UMH Properties by 4.2% in the 1st quarter. Northern Trust Corp now owns 1,229,968 shares of the real estate investment trust’s stock worth $23,000,000 after buying an additional 49,040 shares in the last quarter. Nuveen LLC purchased a new position in UMH Properties in the 1st quarter worth approximately $19,209,000. Finally, D.A. Davidson & CO. grew its stake in UMH Properties by 7.7% in the 1st quarter. D.A. Davidson & CO. now owns 985,112 shares of the real estate investment trust’s stock worth $18,422,000 after buying an additional 70,695 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.

UMH Properties Trading Down 0.5%

NYSE:UMH opened at $15.04 on Thursday. The company has a fifty day moving average of $16.08 and a 200 day moving average of $16.93. UMH Properties, Inc. has a 52 week low of $14.76 and a 52 week high of $20.42. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08. The firm has a market capitalization of $1.28 billion, a P/E ratio of 107.41, a P/E/G ratio of 2.56 and a beta of 1.07.

UMH Properties (NYSE:UMH) last issued 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 return on equity of 5.19% and a net margin of 12.18%.The company had revenue of $66.64 million during the quarter, compared to the consensus estimate of $66.07 million. On average, research analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a $0.225 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.90 annualized dividend and a yield of 6.0%. UMH Properties’s dividend payout ratio is 642.86%.

Analyst Ratings Changes

A number of equities analysts have commented on UMH shares. Wedbush raised shares of UMH Properties to a “hold” rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, UMH Properties currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.25.

Insiders Place Their Bets

In other UMH Properties news, CEO Samuel A. Landy sold 45,700 shares of the company’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $16.40, for a total value of $749,480.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,283 shares in the company, valued at approximately $18,061,041.20. This represents a 3.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Edward Mitchell sold 75,849 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the completion of the transaction, the director owned 41,368 shares of the company’s stock, valued at approximately $675,125.76. The trade was a 64.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,149 shares of company stock worth $2,165,532. 8.77% of the stock is currently owned by corporate insiders.

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.