UMH Properties, Inc. $UMH Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in UMH Properties, Inc. (NYSE:UMH) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,849 shares of the real estate investment trust’s stock after acquiring an additional 3,153 shares during the period. State of Alaska Department of Revenue’s holdings in UMH Properties were worth $634,000 as of its most recent filing with the Securities & Exchange Commission.

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

UMH Properties Price Performance

Shares of NYSE:UMH opened at $14.14 on Wednesday. The company has a 50-day simple moving average of $15.46 and a 200-day simple moving average of $16.57. UMH Properties, Inc. has a one year low of $14.08 and a one year high of $20.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 100.96, a PEG ratio of 2.48 and a beta of 1.05.

UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The business had revenue of $66.64 million during the quarter, compared to analysts’ expectations of $66.07 million. On average, analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Monday, November 17th. UMH Properties’s dividend payout ratio is presently 642.86%.

Insider Buying and Selling at UMH Properties

In other news, Director Angela D. Pruitt sold 1,600 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $16.06, for a total value of $25,696.00. Following the completion of the sale, the director directly owned 9,905 shares of the company’s stock, valued at approximately $159,074.30. This represents a 13.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Edward Mitchell sold 75,849 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 41,368 shares of the company’s stock, valued at $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. Insiders sold a total of 155,249 shares of company stock valued at $2,491,728 over the last ninety days. 8.77% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on UMH. Cantor Fitzgerald began coverage on shares of UMH Properties in a research note on Wednesday, October 1st. They set a “neutral” rating and a $15.00 target price for the company. Weiss Ratings reiterated a “hold (c)” rating on shares of UMH Properties in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Wedbush upgraded shares of UMH Properties to a “hold” rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, UMH Properties presently has an average rating of “Hold” and an average target price of $18.50.

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.