UMH Properties, Inc. (NYSE:UMH) Position Cut by Raymond James & Associates

Raymond James & Associates lowered its position in shares of UMH Properties, Inc. (NYSE:UMH) by 2.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 846,409 shares of the real estate investment trust’s stock after selling 22,116 shares during the period. Raymond James & Associates’ holdings in UMH Properties were worth $16,649,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC grew its position in UMH Properties by 843.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,806 shares during the last quarter. Ridgewood Investments LLC bought a new position in UMH Properties in the 2nd quarter worth approximately $71,000. Quest Partners LLC grew its holdings in UMH Properties by 337.7% in the 2nd quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust’s stock worth $169,000 after buying an additional 8,141 shares in the last quarter. ProShare Advisors LLC acquired a new stake in UMH Properties in the 1st quarter valued at approximately $178,000. Finally, Custom Index Systems LLC bought a new stake in UMH Properties during the 2nd quarter valued at $230,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Insider Activity

In related news, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total value of $52,758.00. Following the transaction, the director now owns 412 shares of the company’s stock, valued at approximately $8,050.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.63% of the stock is currently owned by company insiders.

UMH Properties Price Performance

NYSE:UMH opened at $18.95 on Friday. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 1.49. The business’s 50-day moving average price is $19.34 and its 200 day moving average price is $17.38. UMH Properties, Inc. has a 52-week low of $13.48 and a 52-week high of $20.64. The firm has a market cap of $1.49 billion, a P/E ratio of -270.68, a PEG ratio of 3.38 and a beta of 1.30.

UMH Properties (NYSE:UMH) last released its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). The business had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. During the same period in the prior year, the company earned $0.21 earnings per share. As a group, sell-side analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.54%. The ex-dividend date is Friday, November 15th. UMH Properties’s dividend payout ratio (DPR) is presently -1,228.40%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on UMH shares. Alliance Global Partners assumed coverage on UMH Properties in a research note on Thursday, July 18th. They issued a “buy” rating and a $21.00 price target for the company. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Wedbush boosted their price target on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, B. Riley increased their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.25.

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.