NFJ Investment Group LLC Decreases Stake in UMH Properties, Inc. (NYSE:UMH)

NFJ Investment Group LLC lessened its position in shares of UMH Properties, Inc. (NYSE:UMH) by 24.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,516 shares of the real estate investment trust’s stock after selling 51,970 shares during the quarter. NFJ Investment Group LLC’s holdings in UMH Properties were worth $3,236,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Maryland Capital Advisors Inc. bought a new position in shares of UMH Properties during the 3rd quarter valued at approximately $26,000. Loomis Sayles & Co. L P lifted its position in UMH Properties by 2,760.0% during the third quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,346 shares during the last quarter. US Bancorp DE grew its stake 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 buying an additional 1,791 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of UMH Properties by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 698 shares during the last quarter. Finally, Ridgewood Investments LLC purchased a new position in UMH Properties in the second quarter worth about $71,000. Hedge funds and other institutional investors own 75.40% of the company’s stock.

UMH Properties Stock Up 0.2 %

Shares of NYSE:UMH opened at $19.00 on Wednesday. The firm has a market capitalization of $1.50 billion, a PE ratio of 146.17, a price-to-earnings-growth ratio of 3.40 and a beta of 1.29. The business has a 50 day simple moving average of $19.08 and a two-hundred day simple moving average of $18.02. UMH Properties, Inc. has a 1 year low of $14.09 and a 1 year high of $20.64. 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 (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $60.67 million for the quarter, compared to analysts’ expectations of $61.57 million. During the same quarter in the previous year, the firm earned $0.22 EPS. On average, equities analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

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 paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.53%. The ex-dividend date is Friday, November 15th. UMH Properties’s dividend payout ratio is presently 661.59%.

Insider Activity at UMH Properties

In other 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction 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 owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,845 shares of company stock worth $1,051,210 in the last 90 days. 8.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

UMH has been the topic of a number of recent research reports. B. Riley upped their price objective 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 report on Saturday, November 16th. Finally, Wedbush lifted their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, UMH Properties 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.