State of New Jersey Common Pension Fund D Sells 203,413 Shares of UMH Properties, Inc. (NYSE:UMH)

State of New Jersey Common Pension Fund D trimmed its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 33.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 403,349 shares of the real estate investment trust’s stock after selling 203,413 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.57% of UMH Properties worth $6,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State of Alaska Department of Revenue raised its stake in shares of UMH Properties by 2.4% during the 1st quarter. State of Alaska Department of Revenue now owns 28,798 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 668 shares during the period. Diversified Trust Co raised its stake in shares of UMH Properties by 7.2% during the 2nd quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,024 shares during the period. Bard Associates Inc. raised its stake in shares of UMH Properties by 2.2% during the 4th quarter. Bard Associates Inc. now owns 49,835 shares of the real estate investment trust’s stock valued at $763,000 after purchasing an additional 1,060 shares during the period. Wealthcare Advisory Partners LLC raised its stake in shares of UMH Properties by 7.5% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 15,615 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 1,090 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of UMH Properties by 6.4% during the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 1,111 shares during the period. 75.40% of the stock is currently owned by institutional investors.

Insider Transactions at UMH Properties

In related news, Director Kiernan Conway sold 2,700 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the completion of the sale, the director now directly owns 412 shares in the company, valued at approximately $8,050.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Kiernan Conway sold 2,700 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the completion of the sale, the director now directly owns 412 shares in the company, valued at approximately $8,050.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael P. Landy bought 4,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the acquisition, the director now directly owns 341,796 shares in the company, valued at $5,280,748.20. The disclosure for this purchase can be found here. Company insiders own 8.63% of the company’s stock.

UMH Properties Price Performance

UMH opened at $20.42 on Monday. The stock has a 50-day moving average price of $18.57 and a 200-day moving average price of $16.70. UMH Properties, Inc. has a 12-month low of $13.26 and a 12-month high of $20.49. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.50 billion, a P/E ratio of -136.12, a PEG ratio of 3.60 and a beta of 1.30.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. The firm had revenue of $60.33 million during the quarter, compared to analysts’ expectations of $59.84 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Equities analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties’s payout ratio is currently -573.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Alliance Global Partners assumed coverage on UMH Properties in a research note on Thursday, July 18th. They issued a “buy” rating and a $21.00 target price on the stock. B. Riley upped their target price on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Wedbush upped their target price on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.25.

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.