Verition Fund Management LLC Invests $384,000 in UMH Properties, Inc. (NYSE:UMH)

Verition Fund Management LLC bought a new position in shares of UMH Properties, Inc. (NYSE:UMH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 19,523 shares of the real estate investment trust’s stock, valued at approximately $384,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. State of Alaska Department of Revenue raised its position in shares of UMH Properties by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 663 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised 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 acquiring an additional 698 shares in the last quarter. Diversified Trust Co raised its position in shares of UMH Properties by 7.2% during the 2nd quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock worth $243,000 after acquiring an additional 1,024 shares in the last quarter. Arizona State Retirement System raised its position in shares of UMH Properties by 6.4% during the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock worth $295,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Cornercap Investment Counsel Inc. raised its position in shares of UMH Properties by 2.4% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock worth $768,000 after acquiring an additional 1,124 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

UMH Properties Trading Up 0.8 %

NYSE:UMH opened at $19.48 on Friday. The stock’s 50 day moving average price is $19.09 and its 200 day moving average price is $18.20. The company has a market capitalization of $1.54 billion, a PE ratio of 149.81, a P/E/G ratio of 3.45 and a beta of 1.29. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties, Inc. has a 52-week low of $14.09 and a 52-week high of $20.64.

UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share 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 company had revenue of $60.67 million during the quarter, compared to analysts’ expectations of $61.57 million. During the same quarter last year, the business posted $0.22 earnings per share. On average, research analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.42%. UMH Properties’s dividend payout ratio (DPR) is currently 661.54%.

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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Angela D. Pruitt sold 2,800 shares of UMH Properties stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the sale, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,845 shares of company stock worth $1,051,210. 8.63% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UMH shares. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. B. Riley raised their price target on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat, UMH Properties presently has a consensus rating of “Moderate Buy” and a consensus price target 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.