Bank of New York Mellon Corp Purchases 27,983 Shares of UMH Properties, Inc. (NYSE:UMH)

Bank of New York Mellon Corp increased its position in shares of UMH Properties, Inc. (NYSE:UMH) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 346,333 shares of the real estate investment trust’s stock after buying an additional 27,983 shares during the quarter. Bank of New York Mellon Corp owned 0.44% of UMH Properties worth $6,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of UMH. Golden State Wealth Management LLC acquired a new stake in shares of UMH Properties in the fourth quarter valued at approximately $38,000. Loomis Sayles & Co. L P raised its holdings in UMH Properties by 2,760.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,346 shares in the last quarter. US Bancorp DE raised its holdings in UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,791 shares in the last quarter. Quarry LP raised its holdings in UMH Properties by 904.5% in the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 3,419 shares in the last quarter. Finally, Ulland Investment Advisors LLC increased its stake in shares of UMH Properties by 291.5% in the 4th quarter. Ulland Investment Advisors LLC now owns 3,915 shares of the real estate investment trust’s stock valued at $74,000 after purchasing an additional 2,915 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on UMH shares. StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of UMH Properties in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, UMH Properties has a consensus rating of “Hold” and an average target price of $21.25.

UMH Properties Stock Up 1.8 %

UMH stock opened at $18.03 on Monday. The stock’s 50 day simple moving average is $18.13 and its 200 day simple moving average is $18.84. UMH Properties, Inc. has a fifty-two week low of $14.73 and a fifty-two week high of $20.64. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The company has a market cap of $1.49 billion, a P/E ratio of 138.68, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29.

UMH Properties (NYSE:UMH) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. The firm had revenue of ($126.74) million during the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. On average, research analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be issued a $0.215 dividend. This represents a $0.86 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Tuesday, February 18th. UMH Properties’s dividend payout ratio is presently 2,866.67%.

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.