Panagora Asset Management Inc. Acquires 32,627 Shares of UMH Properties, Inc. (NYSE:UMH)

Panagora Asset Management Inc. raised its holdings in UMH Properties, Inc. (NYSE:UMH) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 259,114 shares of the real estate investment trust’s stock after purchasing an additional 32,627 shares during the quarter. Panagora Asset Management Inc.’s holdings in UMH Properties were worth $4,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in UMH Properties by 10.6% in the 4th quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock valued at $100,212,000 after acquiring an additional 629,427 shares during the period. Kennedy Capital Management LLC increased its stake in shares of UMH Properties by 245.9% during the first quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust’s stock worth $10,789,000 after purchasing an additional 472,307 shares during the period. EntryPoint Capital LLC lifted its holdings in UMH Properties by 843.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,806 shares during the last quarter. Swiss National Bank boosted its stake in UMH Properties by 1.9% in the 1st quarter. Swiss National Bank now owns 124,500 shares of the real estate investment trust’s stock valued at $2,022,000 after purchasing an additional 2,300 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its holdings in UMH Properties by 4.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 73,033 shares of the real estate investment trust’s stock valued at $1,168,000 after buying an additional 3,081 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UMH Properties

In other UMH Properties news, Director Michael P. Landy bought 4,700 shares of the stock in a transaction on Tuesday, June 18th. The stock was purchased at an average price of $15.45 per share, with a total value of $72,615.00. Following the completion of the purchase, the director now owns 341,796 shares in the company, valued at $5,280,748.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Michael P. Landy bought 4,700 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were purchased at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the completion of the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at approximately $5,280,748.20. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kiernan Conway sold 2,700 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the sale, the director now directly owns 412 shares in the company, valued at approximately $8,050.48. The disclosure for this sale can be found here. 8.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

UMH has been the subject of a number of research reports. Wedbush lifted their target price on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. William Blair reiterated a “neutral” rating on shares of UMH Properties in a research note on Monday, May 13th. Alliance Global Partners initiated coverage on shares of UMH Properties in a research report on Thursday, July 18th. They set a “buy” rating and a $21.00 target price on the stock. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, B. Riley increased their price target on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

UMH Properties Price Performance

UMH stock traded up $0.26 during mid-day trading on Friday, hitting $19.46. The stock had a trading volume of 302,715 shares, compared to its average volume of 398,535. The firm has a fifty day simple moving average of $17.73 and a 200 day simple moving average of $16.27. The firm has a market capitalization of $1.43 billion, a P/E ratio of -127.99, a P/E/G ratio of 3.52 and a beta of 1.29. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. UMH Properties, Inc. has a 52 week low of $13.26 and a 52 week high of $19.79.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. The firm had revenue of $60.33 million during the quarter, compared to the consensus estimate of $59.84 million. During the same period last year, the business earned $0.21 earnings per share. As a group, 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, September 16th. Investors of record on Thursday, August 15th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 annualized dividend and a dividend yield of 4.42%. UMH Properties’s dividend payout ratio is currently -573.30%.

UMH Properties 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.