Eagle Asset Management Inc. Invests $3.51 Million in UMH Properties, Inc. (NYSE:UMH)

Eagle Asset Management Inc. purchased a new stake in UMH Properties, Inc. (NYSE:UMH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 181,657 shares of the real estate investment trust’s stock, valued at approximately $3,513,000. Eagle Asset Management Inc. owned approximately 0.23% of UMH Properties at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. acquired a new stake in shares of UMH Properties in the 3rd quarter valued at approximately $26,000. EntryPoint Capital LLC lifted its holdings in shares of UMH Properties by 843.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,806 shares in the last quarter. US Bancorp DE grew its position in shares of UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,791 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 purchasing an additional 698 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in UMH Properties during the 2nd quarter worth approximately $71,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UMH Properties

In related news, CEO Samuel A. Landy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the sale, the chief executive officer now owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the sale, the director now owns 7,993 shares of the company’s stock, valued at $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.63% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UMH shares. Wedbush increased their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Finally, B. Riley upped their price target on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UMH Properties currently has an average rating of “Moderate Buy” and a consensus price target of $21.25.

UMH Properties Trading Up 0.8 %

NYSE UMH opened at $19.39 on Tuesday. UMH Properties, Inc. has a 12 month low of $13.91 and a 12 month high of $20.64. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The stock has a 50 day moving average of $19.15 and a 200-day moving average of $17.90. The company has a market cap of $1.53 billion, a PE ratio of 149.15, a PEG ratio of 3.45 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 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The firm had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. During the same quarter in the prior year, the firm earned $0.22 earnings per share. On average, equities research analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Dividend Announcement

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 paid a $0.215 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a yield of 4.44%. UMH Properties’s dividend payout ratio (DPR) is currently 661.54%.

UMH Properties 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.