Mirae Asset Global Investments Co. Ltd. Has $50,000 Position in UMH Properties, Inc. (NYSE:UMH)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in UMH Properties, Inc. (NYSE:UMH) by 36.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,596 shares of the real estate investment trust’s stock after acquiring an additional 698 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in UMH Properties were worth $50,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. State of Alaska Department of Revenue grew its position in UMH Properties by 2.4% in the 1st quarter. State of Alaska Department of Revenue now owns 28,798 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 668 shares during the period. Diversified Trust Co grew its position in UMH Properties by 7.2% in the 2nd quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock valued at $243,000 after purchasing an additional 1,024 shares during the period. Arizona State Retirement System grew its position in UMH Properties by 6.4% in the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock valued at $295,000 after purchasing an additional 1,111 shares during the period. Cornercap Investment Counsel Inc. grew its position in UMH Properties by 2.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock valued at $768,000 after purchasing an additional 1,124 shares during the period. Finally, Maryland Capital Advisors Inc. purchased a new position in UMH Properties during the 3rd quarter worth $26,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Insider Activity at UMH Properties

In related 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 value of $52,758.00. Following the sale, the director now directly owns 412 shares in the company, valued at approximately $8,050.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on UMH. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Wedbush lifted their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. B. Riley lifted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, Alliance Global Partners began coverage on shares of UMH Properties in a report on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $21.25.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $18.69 on Wednesday. The company’s 50-day moving average is $19.26 and its 200 day moving average is $17.53. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.77 and a current ratio of 6.77. The company has a market capitalization of $1.47 billion, a P/E ratio of -266.96, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30. UMH Properties, Inc. has a fifty-two week low of $13.91 and a fifty-two week high of $20.64.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The company had revenue of $60.33 million during the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. During the same period last year, the firm posted $0.21 earnings per share. On average, equities research analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties’s dividend payout ratio (DPR) is currently -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.