Jennison Associates LLC Boosts Stock Holdings in UMH Properties, Inc. $UMH

Jennison Associates LLC increased its position in shares of UMH Properties, Inc. (NYSE:UMH) by 10.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,536,362 shares of the real estate investment trust’s stock after purchasing an additional 150,718 shares during the period. Jennison Associates LLC’s holdings in UMH Properties were worth $25,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in UMH. KBC Group NV purchased a new position in UMH Properties during the first quarter worth about $32,000. Stone House Investment Management LLC purchased a new position in UMH Properties during the first quarter worth about $34,000. Summit Securities Group LLC purchased a new position in UMH Properties during the first quarter worth about $35,000. Cloud Capital Management LLC purchased a new position in UMH Properties during the first quarter worth about $37,000. Finally, Jump Financial LLC purchased a new position in UMH Properties in the first quarter valued at about $188,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

UMH Properties Trading Down 0.2%

Shares of UMH opened at $14.25 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. The firm has a 50 day simple moving average of $14.85 and a 200-day simple moving average of $16.17. UMH Properties, Inc. has a 1-year low of $13.95 and a 1-year high of $20.42. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 101.75, a price-to-earnings-growth ratio of 2.49 and a beta of 1.05.

UMH Properties (NYSE:UMH) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.The business had revenue of $66.64 million for the quarter, compared to analysts’ expectations of $66.07 million. Equities analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Monday, November 17th. UMH Properties’s dividend payout ratio (DPR) is 642.86%.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, Director Michael P. Landy acquired 10,000 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was acquired at an average cost of $14.46 per share, with a total value of $144,600.00. Following the purchase, the director directly owned 362,052 shares in the company, valued at approximately $5,235,271.92. This trade represents a 2.84% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Samuel A. Landy sold 45,700 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $16.40, for a total transaction of $749,480.00. Following the transaction, the chief executive officer directly owned 1,101,283 shares of the company’s stock, valued at approximately $18,061,041.20. This trade represents a 3.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders acquired 10,743 shares of company stock valued at $155,097 and sold 175,249 shares valued at $2,775,528. Corporate insiders own 8.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on UMH. Cantor Fitzgerald began coverage on shares of UMH Properties in a report on Wednesday, October 1st. They issued a “neutral” rating and a $15.00 target price for the company. Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.50.

UMH Properties 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.