Principal Financial Group Inc. Buys New Shares in UMH Properties, Inc. (NYSE:UMH)

Principal Financial Group Inc. bought a new position in UMH Properties, Inc. (NYSE:UMH) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 34,314 shares of the real estate investment trust’s stock, valued at approximately $675,000.

Several other hedge funds have also added to or reduced their stakes in UMH. State of Alaska Department of Revenue grew its holdings in UMH Properties by 2.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of UMH Properties by 36.8% during 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 purchasing an additional 698 shares during the period. Arizona State Retirement System grew its stake in shares of UMH Properties by 6.4% in the second quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock worth $295,000 after purchasing an additional 1,111 shares during the last quarter. Cornercap Investment Counsel Inc. raised its position in UMH Properties by 2.4% during 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 last quarter. Finally, Centiva Capital LP lifted its holdings in UMH Properties by 4.0% in the 3rd quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust’s stock worth $618,000 after buying an additional 1,195 shares during the period. 75.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. 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 Stock Performance

Shares of UMH opened at $19.00 on Monday. 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 stock has a market cap of $1.50 billion, a P/E ratio of 146.17, a P/E/G ratio of 3.47 and a beta of 1.29. The business’s 50 day moving average price is $19.12 and its 200-day moving average price is $18.67. UMH Properties, Inc. has a 52 week low of $14.09 and a 52 week high of $20.64.

UMH Properties (NYSE:UMH) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same period last year, the firm posted $0.22 earnings per share. Equities research analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Samuel A. Landy sold 50,000 shares of the 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 sale, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. This trade represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the business’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 directly 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. 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 insiders.

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.