Private Management Group Inc. increased its stake in UMH Properties, Inc. (NYSE:UMH – Free Report) by 37.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,680,180 shares of the real estate investment trust’s stock after acquiring an additional 461,463 shares during the period. Private Management Group Inc. owned approximately 1.97% of UMH Properties worth $24,951,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in UMH. Royal Bank of Canada lifted its position in UMH Properties by 2.9% in the first quarter. Royal Bank of Canada now owns 191,545 shares of the real estate investment trust’s stock worth $3,583,000 after purchasing an additional 5,409 shares during the period. Amundi raised its stake in shares of UMH Properties by 15.6% in the 1st quarter. Amundi now owns 41,420 shares of the real estate investment trust’s stock worth $778,000 after buying an additional 5,590 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of UMH Properties by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,976 shares of the real estate investment trust’s stock worth $804,000 after buying an additional 1,871 shares in the last quarter. Metis Global Partners LLC acquired a new stake in shares of UMH Properties in the second quarter valued at $217,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in UMH Properties by 11.2% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 54,125 shares of the real estate investment trust’s stock valued at $909,000 after buying an additional 5,457 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
UMH Properties Trading Down 0.5%
NYSE:UMH opened at $14.64 on Friday. The stock has a fifty day simple moving average of $15.76 and a 200 day simple moving average of $15.32. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 209.20, a price-to-earnings-growth ratio of 2.48 and a beta of 1.07. UMH Properties, Inc. has a 1-year low of $13.95 and a 1-year high of $19.02. The company has a quick ratio of 8.93, a current ratio of 8.93 and a debt-to-equity ratio of 1.17.
UMH Properties Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Tuesday, February 17th will be issued a dividend of $0.225 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 6.1%. UMH Properties’s payout ratio is currently 1,285.71%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Colliers Securities raised UMH Properties to a “buy” rating in a report on Thursday, December 4th. Cantor Fitzgerald reissued a “neutral” rating and issued a $16.00 price target on shares of UMH Properties in a report on Monday, January 5th. B. Riley Financial reduced their price objective on shares of UMH Properties from $19.00 to $18.50 and set a “buy” rating for the company in a research report on Monday, November 24th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.
Check Out Our Latest Research Report on UMH
UMH Properties Company Profile
UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company’s business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.
The company generates revenue through rental lot fees, home sales and related community services.
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