Nordea Investment Management AB boosted its position in UMH Properties, Inc. (NYSE: UMH – Get Rating) by 38.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 481,164 shares of the real estate investment trust’s stock after purchasing an additional 134,193 shares during the period. Nordea Investment Management AB’s holdings in UMH Properties were worth $ 11,793,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of UMH. Credit Suisse AG grew its position in UMH Properties by 13.5% in the 3rd quarter. Credit Suisse AG now owns 32,893 shares of the real estate investment trust’s stock worth $ 753,000 after purchasing an additional 3,912 shares in the last quarter. Dimensional Fund Advisors LP grew its position in UMH Properties by 3.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 647,610 shares of the real estate investment trust’s stock worth $ 14,831,000 after purchasing an additional 22,225 shares in the last quarter. Voya Investment Management LLC grew its position in UMH Properties by 3.5% in the 3rd quarter. Voya Investment Management LLC now owns 16,842 shares of the real estate investment trust’s stock worth $ 386,000 after purchasing an additional 569 shares in the last quarter. Royal Bank of Canada grew its position in UMH Properties by 4.1% in the 3rd quarter. Royal Bank of Canada now owns 515,886 shares of the real estate investment trust’s stock worth $ 11,813,000 after purchasing an additional 20,264 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in UMH Properties in the 3rd quarter worth about $ 221,000. 69.02% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on UMH. StockNews.com initiated coverage on shares of UMH Properties in a research report on Thursday, March 31st. They set a “sell” rating for the company. B. Riley cut their price objective on shares of UMH Properties from $ 27.00 to $ 26.00 and set a “buy” rating for the company in a report on Monday, May 9th. Maxim Group reiterated a “buy” rating and issued a $ 28.00 target price on shares of UMH Properties in a research note on Friday, May 6th. Finally, Compass Point set a $ 26.50 target price on shares of UMH Properties in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, UMH Properties currently has an average rating of “Moderate Buy” and a consensus price target of $ 27.33.
In related news, Director Kenneth K. Quigley, Jr. acquired 2,500 shares of the firm’s stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $ 19.35 per share, with a total value of $ 48,375.00. Following the completion of the acquisition, the director now directly owns 19,865 shares of the company’s stock, valued at $ 384,387.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth K. Quigley, Jr. bought 3,500 shares of the business’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $ 18.81 per share, with a total value of $ 65,835.00. Following the completion of the transaction, the director now directly owns 17,365 shares of the company’s stock, valued at approximately $ 326,635.65. The disclosure for this purchase can be found here. Insiders acquired 7,104 shares of company stock valued at $ 139,982 over the last ninety days. Corporate insiders own 10.95% of the company’s stock.
Shares of UMH opened at $ 17.30 on Friday. The firm’s 50-day moving average price is $ 20.42 and its 200-day moving average price is $ 22.96. The firm has a market capitalization of $ 938.46 million, a price-to-earnings ratio of 91.06, a PEG ratio of 3.86 and a beta of 1.15. The company has a current ratio of 16.65, a quick ratio of 16.65 and a debt-to-equity ratio of 2.00. UMH Properties, Inc. has a 1-year low of $ 16.50 and a 1-year high of $ 27.50.
UMH Properties (NYSE: UMH – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The real estate investment trust reported ($ 0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $ 0.21 by ($ 0.30). UMH Properties had a net margin of 21.44% and a return on equity of 16.45%. During the same quarter in the previous year, the firm earned $ 0.20 EPS. On average, research analysts forecast that UMH Properties, Inc. will post 0.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Monday, May 16th were issued a $ 0.20 dividend. The ex-dividend date of this dividend was Friday, May 13th. This represents a $ 0.80 annualized dividend and a yield of 4.62%. UMH Properties’s dividend payout ratio (DPR) is presently 421.07%.
UMH Properties Company Profile (Get Rating)
UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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