UMH Properties, Inc. (NYSE:UMH) Shares Purchased by Rhumbline Advisers

Rhumbline Advisers boosted its position in UMH Properties, Inc. (NYSE:UMH) by 12.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,860 shares of the real estate investment trust’s stock after acquiring an additional 12,470 shares during the quarter. Rhumbline Advisers owned 0.16% of UMH Properties worth $1,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position in shares of UMH Properties by 843.9% during the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,806 shares during the last quarter. Ridgewood Investments LLC bought a new stake in UMH Properties in the second quarter valued at about $71,000. Quadrant Capital Group LLC increased its holdings in UMH Properties by 52.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock valued at $82,000 after buying an additional 1,856 shares during the last quarter. ProShare Advisors LLC bought a new stake in UMH Properties in the first quarter valued at about $178,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in UMH Properties in the first quarter valued at about $197,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UMH has been the topic of several recent analyst reports. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Wedbush boosted their target price on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. B. Riley boosted 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. Finally, Alliance Global Partners began coverage on shares of UMH Properties in a research report on Thursday, July 18th. They set a “buy” rating and a $21.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

Insider Activity at UMH Properties

In related news, Director Kiernan Conway sold 2,700 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.54, for a total value of $52,758.00. Following the completion of the transaction, the director now owns 412 shares of the company’s stock, valued at approximately $8,050.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.63% of the stock is owned by insiders.

UMH Properties Price Performance

Shares of UMH stock opened at $19.75 on Friday. UMH Properties, Inc. has a 12-month low of $13.26 and a 12-month high of $20.64. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -131.66, a price-to-earnings-growth ratio of 3.63 and a beta of 1.30. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 1.49. The firm has a fifty day moving average of $18.85 and a 200-day moving average of $16.81.

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

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.35%. The ex-dividend date was Thursday, August 15th. UMH Properties’s payout ratio is -573.30%.

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.