Bank of New York Mellon Corp Grows Stock Position in UMH Properties, Inc. (NYSE:UMH)

Bank of New York Mellon Corp boosted its holdings in shares of UMH Properties, Inc. (NYSE:UMH) by 8.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 346,333 shares of the real estate investment trust’s stock after purchasing an additional 27,983 shares during the period. Bank of New York Mellon Corp’s holdings in UMH Properties were worth $6,539,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC bought a new stake in UMH Properties during the 4th quarter valued at approximately $38,000. Loomis Sayles & Co. L P boosted its position in shares of UMH Properties by 2,760.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,346 shares in the last quarter. US Bancorp DE boosted 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 worth $49,000 after purchasing an additional 1,791 shares in the last quarter. Ulland Investment Advisors LLC boosted its position in shares of UMH Properties by 291.5% in the 4th quarter. Ulland Investment Advisors LLC now owns 3,915 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 2,915 shares in the last quarter. Finally, Quarry LP boosted its position in shares of UMH Properties by 904.5% in the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 3,419 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Analyst Ratings Changes

UMH has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of UMH Properties in a research report on Monday, January 13th. StockNews.com downgraded shares of UMH Properties from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, UMH Properties currently has a consensus rating of “Hold” and an average target price of $21.25.

UMH Properties Stock Performance

UMH Properties stock opened at $18.03 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties, Inc. has a 1-year low of $14.73 and a 1-year high of $20.64. The firm has a market capitalization of $1.49 billion, a P/E ratio of 138.68, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The company’s 50-day moving average is $18.13 and its 200 day moving average is $18.84.

UMH Properties (NYSE:UMH) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. The business had revenue of ($126.74) million for the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. Research analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 4.77%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s payout ratio is 2,866.67%.

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.