Verition Fund Management LLC Invests $384,000 in UMH Properties, Inc. (NYSE:UMH)

Verition Fund Management LLC acquired a new position in UMH Properties, Inc. (NYSE:UMH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 19,523 shares of the real estate investment trust’s stock, valued at approximately $384,000.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. purchased a new position in UMH Properties during the third quarter valued at approximately $675,000. Concurrent Investment Advisors LLC purchased a new position in UMH Properties during the third quarter valued at approximately $614,000. Charles Schwab Investment Management Inc. raised its position in UMH Properties by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 940,792 shares of the real estate investment trust’s stock valued at $18,505,000 after acquiring an additional 56,662 shares in the last quarter. Bank of New York Mellon Corp raised its position in UMH Properties by 9.7% during the second quarter. Bank of New York Mellon Corp now owns 388,861 shares of the real estate investment trust’s stock valued at $6,218,000 after acquiring an additional 34,249 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in UMH Properties by 11.0% during the second quarter. Envestnet Asset Management Inc. now owns 421,850 shares of the real estate investment trust’s stock valued at $6,745,000 after acquiring an additional 41,774 shares in the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Samuel A. Landy sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. This represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the transaction, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,845 shares of company stock valued at $1,051,210. Insiders own 8.63% of the company’s stock.

UMH Properties Stock Performance

Shares of NYSE:UMH opened at $19.48 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The business’s 50 day moving average price is $19.09 and its 200-day moving average price is $18.20. The firm has a market capitalization of $1.54 billion, a PE ratio of 149.81, a P/E/G ratio of 3.45 and a beta of 1.29. UMH Properties, Inc. has a 1 year low of $14.09 and a 1 year high of $20.64.

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 analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $60.67 million for the quarter, compared to analyst estimates 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 EPS. As a group, equities research analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties’s dividend payout ratio (DPR) is currently 661.54%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. B. Riley lifted their price target on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.25.

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.