JPMorgan Chase & Co. Raises Stock Position in UMH Properties, Inc. (NYSE:UMH)

JPMorgan Chase & Co. lifted its position in UMH Properties, Inc. (NYSE:UMH) by 20.0% in the third quarter, Holdings Channel reports. The firm owned 410,856 shares of the real estate investment trust’s stock after buying an additional 68,580 shares during the period. JPMorgan Chase & Co.’s holdings in UMH Properties were worth $8,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. bought a new stake in UMH Properties during the 3rd quarter valued at $26,000. Loomis Sayles & Co. L P increased its stake in shares of UMH Properties by 2,760.0% during the third quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,346 shares during the period. US Bancorp DE raised its holdings in shares of UMH Properties by 261.1% in the third quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 1,791 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in UMH Properties by 36.8% in 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 acquiring an additional 698 shares during the period. Finally, Quarry LP grew its holdings in UMH Properties by 904.5% during the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock worth $75,000 after acquiring an additional 3,419 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.

Insider Activity

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,845 shares of company stock worth $1,051,210 over the last 90 days. 8.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

UMH has been the subject of several research reports. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of UMH Properties in a research report on Monday. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

UMH Properties Stock Up 0.4 %

Shares of UMH Properties stock opened at $17.92 on Wednesday. UMH Properties, Inc. has a 52-week low of $14.09 and a 52-week high of $20.64. The firm’s 50 day moving average price is $19.05 and its 200-day moving average price is $18.78. 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 company has a market cap of $1.41 billion, a P/E ratio of 137.86, a PEG ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. During the same period in the previous year, the company posted $0.22 earnings per share. On average, sell-side analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.80%. UMH Properties’s payout ratio is 661.54%.

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.