Golden State Wealth Management LLC Invests $38,000 in UMH Properties, Inc. (NYSE:UMH)

Golden State Wealth Management LLC bought a new position in shares of UMH Properties, Inc. (NYSE:UMH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,000 shares of the real estate investment trust’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds have also modified their holdings of UMH. State Street Corp increased its stake in shares of UMH Properties by 44.5% during the third quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock worth $55,127,000 after purchasing an additional 863,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of UMH Properties by 476.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,874 shares of the real estate investment trust’s stock worth $6,607,000 after purchasing an additional 277,590 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of UMH Properties during the third quarter worth about $4,421,000. Brookfield Corp ON acquired a new position in UMH Properties during the third quarter worth about $4,331,000. Finally, Eagle Asset Management Inc. acquired a new position in UMH Properties during the third quarter worth about $3,513,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.

UMH Properties Stock Performance

NYSE:UMH opened at $18.21 on Wednesday. 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 firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 140.10, a PEG ratio of 3.02 and a beta of 1.28. The company’s 50-day moving average is $18.58 and its two-hundred day moving average is $18.96. UMH Properties, Inc. has a 1-year low of $14.09 and a 1-year high of $20.64.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.86 annualized dividend and a dividend yield of 4.72%. UMH Properties’s dividend payout ratio is currently 661.59%.

Insider Transactions at UMH Properties

In other news, Director Angela D. Pruitt sold 2,800 shares of the company’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 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. This represents a 25.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 8.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Wedbush restated a “neutral” rating and set a $20.00 price target on shares of UMH Properties in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.25.

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.