Cerity Partners LLC Reduces Holdings in UMH Properties, Inc. (NYSE:UMH)

Cerity Partners LLC lowered its position in UMH Properties, Inc. (NYSE:UMH) by 79.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 39,608 shares of the real estate investment trust’s stock after selling 153,583 shares during the period. Cerity Partners LLC owned about 0.05% of UMH Properties worth $779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Maryland Capital Advisors Inc. bought a new position in shares of UMH Properties during the 3rd quarter valued at about $26,000. US Bancorp DE boosted its stake in UMH Properties by 261.1% during the third quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in UMH Properties by 36.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 698 shares in the last quarter. Ridgewood Investments LLC bought a new stake in UMH Properties in the 2nd quarter worth approximately $71,000. Finally, Quest Partners LLC increased its stake in UMH Properties by 337.7% in the 2nd quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust’s stock worth $169,000 after acquiring an additional 8,141 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

Insider Activity at UMH Properties

In other news, CEO Samuel A. Landy sold 50,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. This represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the sale, the director now directly owns 7,993 shares of the company’s stock, valued at approximately $153,945.18. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,845 shares of company stock valued at $1,051,210 over the last ninety days. 8.63% of the stock is owned by company insiders.

UMH Properties Trading Up 1.1 %

Shares of UMH opened at $19.85 on Friday. The company’s fifty day simple moving average is $19.07 and its 200-day simple moving average is $18.05. The company has a market cap of $1.57 billion, a P/E ratio of 151.01, a P/E/G ratio of 3.40 and a beta of 1.29. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties, Inc. has a twelve month low of $14.09 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The firm had revenue of $60.67 million during the quarter, compared to analysts’ expectations of $61.57 million. During the same period last year, the company earned $0.22 earnings per share. As a group, analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.215 per share. The ex-dividend date is Friday, November 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.33%. UMH Properties’s dividend payout ratio is currently 661.59%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wedbush raised their target price on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, B. Riley increased their price target on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, UMH Properties presently has a consensus rating of “Moderate Buy” and an average target price 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.