Wedbush Securities Inc. raised its stake in UMH Properties, Inc. (NYSE:UMH) by 14.1% during the second quarter, Holdings Channel reports. The institutional investor owned 109,487 shares of the real estate investment trust’s stock after buying an additional 13,565 shares during the period. Wedbush Securities Inc.’s holdings in UMH Properties were worth $1,867,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Aperio Group LLC boosted its position in shares of UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares in the last quarter. Creative Planning boosted its position in shares of UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares in the last quarter. Bank of Montreal Can boosted its position in shares of UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of UMH Properties by 3.3% in the second quarter. State of New Jersey Common Pension Fund D now owns 317,000 shares of the real estate investment trust’s stock valued at $5,405,000 after buying an additional 10,000 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in shares of UMH Properties during the second quarter valued at $904,000. Institutional investors and hedge funds own 45.54% of the company’s stock.
UMH Properties, Inc. (UMH) opened at 15.33 on Friday. The stock’s market cap is $519.61 million. The company’s 50 day moving average is $16.60 and its 200-day moving average is $15.84. UMH Properties, Inc. has a 1-year low of $11.28 and a 1-year high of $17.90.
UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by $0.03. The company had revenue of $26.45 million for the quarter. UMH Properties had a net margin of 1.02% and a return on equity of 0.76%. Equities research analysts forecast that UMH Properties, Inc. will post ($0.12) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Friday, August 11th. UMH Properties’s payout ratio is -799.91%.
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A number of research firms recently weighed in on UMH. Sidoti lifted their target price on shares of UMH Properties from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. BidaskClub cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine cut shares of UMH Properties from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Wunderlich lifted their target price on shares of UMH Properties from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. Finally, FBR & Co restated an “outperform” rating and set a $18.50 target price on shares of UMH Properties in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $19.17.
In related news, Director James E. Mitchell acquired 3,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were acquired at an average cost of $25.00 per share, with a total value of $75,000.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $75,000. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have acquired 4,326 shares of company stock worth $96,012. Insiders own 11.61% of the company’s stock.
About UMH Properties
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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