The Manufacturers Life Insurance Company purchased a new position in shares of UMH Properties, Inc. (NYSE:UMH – Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 64,370 shares of the real estate investment trust’s stock, valued at approximately $975,000.
A number of other hedge funds also recently bought and sold shares of the stock. Allworth Financial LP purchased a new position in shares of UMH Properties in the 2nd quarter valued at about $45,000. Summit Securities Group LLC acquired a new position in shares of UMH Properties during the first quarter worth about $46,000. Danske Bank A S purchased a new stake in shares of UMH Properties during the fourth quarter worth approximately $49,000. Quantbot Technologies LP purchased a new stake in shares of UMH Properties during the second quarter worth approximately $52,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in UMH Properties by 96.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,495 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 1,720 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
UMH Properties Price Performance
Shares of NYSE UMH opened at $15.95 on Friday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 132.92 and a beta of 0.97. The company has a debt-to-equity ratio of 1.28, a current ratio of 6.90 and a quick ratio of 6.90. The business has a 50-day moving average of $15.80 and a two-hundred day moving average of $15.41. UMH Properties, Inc. has a 1 year low of $13.93 and a 1 year high of $16.77.
UMH Properties Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 17th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Monday, August 17th. UMH Properties’s dividend payout ratio is 750.00%.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on UMH. Weiss Ratings reiterated a “hold (c)” rating on shares of UMH Properties in a research note on Friday, July 31st. Odeon Capital Group set a $17.50 price objective on shares of UMH Properties in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.
Read Our Latest Stock Report on UMH Properties
UMH Properties Company Profile
UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company’s business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.
The company generates revenue through rental lot fees, home sales and related community services.
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