Loomis Sayles & Co. L P Buys 2,346 Shares of UMH Properties, Inc. (NYSE:UMH)

Loomis Sayles & Co. L P raised its position in UMH Properties, Inc. (NYSE:UMH) by 2,760.0% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 2,431 shares of the real estate investment trust’s stock after buying an additional 2,346 shares during the period. Loomis Sayles & Co. L P’s holdings in UMH Properties were worth $48,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of UMH. Maryland Capital Advisors Inc. acquired a new position in shares of UMH Properties during the third quarter valued at $26,000. US Bancorp DE grew its position in shares of UMH Properties by 261.1% during the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock worth $49,000 after buying an additional 1,791 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of UMH Properties by 36.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 698 shares during the period. Ridgewood Investments LLC bought a new stake in shares of UMH Properties during the second quarter worth approximately $71,000. Finally, Quest Partners LLC lifted its holdings in UMH Properties by 337.7% in the second quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust’s stock valued at $169,000 after buying an additional 8,141 shares during the period. 75.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on UMH shares. Wedbush lifted their target price on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Finally, B. Riley upped their price objective on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

UMH Properties Price Performance

Shares of UMH stock opened at $19.26 on Friday. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 148.17, a price-to-earnings-growth ratio of 3.47 and a beta of 1.30. UMH Properties, Inc. has a 12-month low of $13.91 and a 12-month high of $20.64. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a fifty day moving average of $19.13 and a 200-day moving average of $17.94.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The business had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same quarter last year, the company earned $0.22 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Friday, November 15th. UMH Properties’s payout ratio is currently 661.59%.

Insider Activity

In other news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the sale, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the transaction, the director now directly owns 7,993 shares of the company’s stock, valued at $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.63% of the company’s stock.

About UMH Properties

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.