Quest Partners LLC Sells 8,260 Shares of UMH Properties, Inc. (NYSE:UMH)

Quest Partners LLC lessened its holdings in UMH Properties, Inc. (NYSE:UMH) by 78.3% during the third quarter, Holdings Channel.com reports. The firm owned 2,292 shares of the real estate investment trust’s stock after selling 8,260 shares during the quarter. Quest Partners LLC’s holdings in UMH Properties were worth $45,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in UMH. Principal Financial Group Inc. bought a new position in shares of UMH Properties during the third quarter valued at about $675,000. Concurrent Investment Advisors LLC purchased a new stake in UMH Properties during the 3rd quarter valued at about $614,000. Bank of New York Mellon Corp grew its position in UMH Properties by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 388,861 shares of the real estate investment trust’s stock worth $6,218,000 after acquiring an additional 34,249 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in UMH Properties by 11.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 421,850 shares of the real estate investment trust’s stock worth $6,745,000 after purchasing an additional 41,774 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its position in UMH Properties by 4.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 73,033 shares of the real estate investment trust’s stock valued at $1,168,000 after purchasing an additional 3,081 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

UMH Properties Price Performance

UMH opened at $19.20 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The stock has a market capitalization of $1.51 billion, a PE ratio of 147.69, a price-to-earnings-growth ratio of 3.45 and a beta of 1.30. The stock’s 50 day moving average price is $19.10 and its 200-day moving average price is $17.97. UMH Properties, Inc. has a 52-week low of $14.07 and a 52-week high of $20.64.

UMH Properties (NYSE:UMH) last released its quarterly 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 the consensus estimate of $61.57 million. During the same quarter last year, the firm earned $0.22 EPS. On average, equities research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current 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 given a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Friday, November 15th. UMH Properties’s dividend payout ratio is currently 661.54%.

Analyst Ratings Changes

UMH has been the topic of several recent analyst reports. Wedbush raised their target price 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 increased their price target on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Insider Buying and Selling

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 stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. 8.63% of the stock is owned by insiders.

UMH Properties Company 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.