US Bancorp DE Buys 1,791 Shares of UMH Properties, Inc. (NYSE:UMH)

US Bancorp DE lifted its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 261.1% in the third quarter, Holdings Channel.com reports. The fund owned 2,477 shares of the real estate investment trust’s stock after acquiring an additional 1,791 shares during the quarter. US Bancorp DE’s holdings in UMH Properties were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMH. Maryland Capital Advisors Inc. acquired a new stake in UMH Properties during the 3rd quarter valued at approximately $26,000. EntryPoint Capital LLC increased its position in shares of UMH Properties by 843.9% during the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 1,806 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in UMH Properties by 36.8% during the third 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 last quarter. Ridgewood Investments LLC acquired a new position in UMH Properties in the second quarter valued at $71,000. Finally, Quest Partners LLC boosted its position in UMH Properties by 337.7% during the second quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust’s stock valued at $169,000 after acquiring an additional 8,141 shares during the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

UMH Properties Stock Performance

Shares of UMH Properties stock opened at $19.16 on Monday. The business has a 50-day simple moving average of $19.23 and a 200 day simple moving average of $17.76. UMH Properties, Inc. has a one year low of $13.91 and a one year high of $20.64. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 147.40, a PEG ratio of 3.43 and a beta of 1.30.

UMH Properties (NYSE:UMH) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The firm had revenue of $60.67 million for the quarter, compared to the consensus estimate of $61.57 million. During the same quarter in the prior year, the firm earned $0.22 EPS. On average, research analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.86 annualized dividend and a yield of 4.49%. UMH Properties’s payout ratio is 661.59%.

Insider Buying and Selling at UMH Properties

In related news, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now owns 1,104,826 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 8.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on UMH. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday. Wedbush boosted their price target on UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, B. Riley raised their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

UMH Properties Company 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.