William Blair Investment Management LLC Cuts Stake in UMH Properties, Inc. (NYSE:UMH)

William Blair Investment Management LLC lessened its stake in UMH Properties, Inc. (NYSE:UMH) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,003,749 shares of the real estate investment trust’s stock after selling 4,115 shares during the quarter. William Blair Investment Management LLC owned 2.85% of UMH Properties worth $32,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of UMH Properties by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 800,569 shares of the real estate investment trust’s stock worth $12,265,000 after buying an additional 57,721 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in UMH Properties by 10.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 37,160 shares of the real estate investment trust’s stock valued at $551,000 after acquiring an additional 3,588 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in UMH Properties by 52.7% during the 4th quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock valued at $82,000 after purchasing an additional 1,856 shares during the last quarter. Panagora Asset Management Inc. bought a new stake in shares of UMH Properties in the 4th quarter worth $1,819,000. Finally, Aigen Investment Management LP purchased a new position in shares of UMH Properties in the fourth quarter worth $281,000. Institutional investors own 75.40% of the company’s stock.

Insider Buying and Selling at UMH Properties

In related news, Director Michael P. Landy acquired 4,700 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were 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 directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Michael P. Landy bought 4,700 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the purchase, the director now owns 341,796 shares in the company, valued at $5,280,748.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.54, for a total transaction of $52,758.00. Following the transaction, 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 corporate insiders.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $20.42 on Friday. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $1.50 billion, a PE ratio of -136.12, a price-to-earnings-growth ratio of 3.60 and a beta of 1.30. The firm’s 50 day moving average price is $18.57 and its 200-day moving average price is $16.69. UMH Properties, Inc. has a twelve month low of $13.26 and a twelve month high of $20.49.

UMH Properties (NYSE:UMH) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The business had revenue of $60.33 million for the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. During the same period in the prior year, the company posted $0.21 earnings per share. Equities research analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The business also recently announced 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 yield of 4.21%. UMH Properties’s dividend payout ratio (DPR) is presently -573.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on UMH shares. Alliance Global Partners began coverage on UMH Properties in a report on Thursday, July 18th. They issued a “buy” rating and a $21.00 price objective for the company. B. Riley boosted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. Wedbush increased their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. Finally, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, UMH Properties currently has a consensus rating of “Moderate Buy” and a consensus 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.