abrdn plc Takes Position in UMH Properties, Inc. (NYSE:UMH)

abrdn plc purchased a new position in UMH Properties, Inc. (NYSE:UMH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 12,779 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new position in UMH Properties in the third quarter worth about $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 valued at $33,000 after acquiring an additional 1,806 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in UMH Properties by 36.8% in 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 during the last quarter. Ridgewood Investments LLC bought a new position in UMH Properties in the 2nd quarter valued at approximately $71,000. Finally, Quest Partners LLC boosted its stake in UMH Properties by 337.7% during the 2nd quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 8,141 shares during the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UMH has been the subject of several recent analyst reports. B. Riley boosted 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. Alliance Global Partners assumed coverage on shares of UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 target price on the stock. Wedbush lifted their price target on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

Insider Buying and Selling

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the completion of the sale, the director now owns 412 shares of the company’s stock, valued at approximately $8,050.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.63% of the stock is owned by insiders.

UMH Properties Price Performance

NYSE UMH opened at $18.69 on Wednesday. The company has a 50-day moving average price of $19.26 and a 200-day moving average price of $17.53. UMH Properties, Inc. has a 52 week low of $13.91 and a 52 week high of $20.64. 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 firm has a market capitalization of $1.47 billion, a P/E ratio of -266.96, a PEG ratio of 3.28 and a beta of 1.30.

UMH Properties (NYSE:UMH) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The business had revenue of $60.33 million for the quarter, compared to analysts’ expectations 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 posted $0.21 earnings per share. Equities research analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 4.60%. UMH Properties’s dividend payout ratio (DPR) is -1,228.40%.

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.