UMH Properties, Inc. (NYSE:UMH) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System increased its stake in UMH Properties, Inc. (NYSE:UMH) by 5.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 17,334 shares of the real estate investment trust’s stock after buying an additional 894 shares during the period. Arizona State Retirement System’s holdings in UMH Properties were worth $266,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Federated Hermes Inc. lifted its position in UMH Properties by 54.9% during the third quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 856 shares in the last quarter. Spire Wealth Management lifted its position in UMH Properties by 177.8% during the third quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock valued at $47,000 after buying an additional 2,125 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in UMH Properties during the first quarter valued at approximately $58,000. Quantbot Technologies LP lifted its position in UMH Properties by 1,600.0% during the second quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 3,200 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its position in UMH Properties by 22.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,546 shares of the real estate investment trust’s stock valued at $73,000 after buying an additional 832 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

UMH Properties Trading Up 0.9 %

NYSE UMH opened at $15.37 on Monday. The company’s fifty day simple moving average is $15.48 and its 200-day simple moving average is $14.98. UMH Properties, Inc. has a 52 week low of $13.26 and a 52 week high of $16.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. The stock has a market cap of $1.07 billion, a P/E ratio of -102.46, a PEG ratio of 2.75 and a beta of 1.24.

UMH Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.215 per share. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.60%. The ex-dividend date of this dividend is Tuesday, May 14th. UMH Properties’s payout ratio is presently -546.63%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UMH. Compass Point lifted their price target on shares of UMH Properties from $20.00 to $21.50 and gave the company a “buy” rating in a research report on Thursday, March 21st. B. Riley began coverage on shares of UMH Properties in a research report on Thursday, March 21st. They set a “buy” rating and a $18.50 price target on the stock. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Finally, Wedbush reissued a “neutral” rating and set a $17.00 target price on shares of UMH Properties in a research report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Insider Transactions at UMH Properties

In other news, COO Brett Taft sold 9,800 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total transaction of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 8.63% of the company’s stock.

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.