BlackRock Inc. grew its stake in UMH PROPERTIES/SH SH (NYSE:UMH) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,477,575 shares of the real estate investment trust’s stock after purchasing an additional 50,665 shares during the period. BlackRock Inc. owned approximately 0.07% of UMH PROPERTIES/SH SH worth $38,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of UMH. Russell Investments Group Ltd. lifted its holdings in UMH PROPERTIES/SH SH by 3,700.2% in the second quarter. Russell Investments Group Ltd. now owns 481,298 shares of the real estate investment trust’s stock valued at $7,386,000 after acquiring an additional 468,633 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in UMH PROPERTIES/SH SH by 6.6% in the second quarter. D.A. Davidson & CO. now owns 434,463 shares of the real estate investment trust’s stock valued at $6,669,000 after acquiring an additional 27,062 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in UMH PROPERTIES/SH SH by 5.7% during the first quarter. Dimensional Fund Advisors LP now owns 427,975 shares of the real estate investment trust’s stock worth $5,739,000 after purchasing an additional 22,980 shares in the last quarter. Northern Trust Corp lifted its stake in UMH PROPERTIES/SH SH by 4.2% during the first quarter. Northern Trust Corp now owns 412,491 shares of the real estate investment trust’s stock worth $5,532,000 after purchasing an additional 16,726 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its stake in UMH PROPERTIES/SH SH by 3.8% during the second quarter. Rutabaga Capital Management LLC MA now owns 408,640 shares of the real estate investment trust’s stock worth $6,273,000 after purchasing an additional 14,950 shares in the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
A number of research analysts have commented on the company. Zacks Investment Research cut UMH PROPERTIES/SH SH from a “buy” rating to a “hold” rating in a research note on Thursday. Boenning Scattergood assumed coverage on UMH PROPERTIES/SH SH in a research note on Monday, September 17th. They set an “outperform” rating and a $19.50 price target on the stock.
NYSE:UMH opened at $14.65 on Friday. The company has a debt-to-equity ratio of 2.22, a quick ratio of 5.21 and a current ratio of 5.21. UMH PROPERTIES/SH SH has a 52 week low of $11.38 and a 52 week high of $16.69. The firm has a market cap of $579.53 million, a price-to-earnings ratio of 20.83, a PEG ratio of 2.09 and a beta of 0.37.
UMH PROPERTIES/SH SH (NYSE:UMH) last released its quarterly earnings results on Tuesday, August 7th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.21. UMH PROPERTIES/SH SH had a negative return on equity of 5.62% and a negative net margin of 8.17%. The company had revenue of $32.10 million for the quarter, compared to analysts’ expectations of $32.03 million. As a group, analysts anticipate that UMH PROPERTIES/SH SH will post 0.75 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date of this dividend is Wednesday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is 101.41%.
In other UMH PROPERTIES/SH SH news, General Counsel Craig Koster sold 3,500 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $16.31, for a total transaction of $57,085.00. Following the transaction, the general counsel now directly owns 6,895 shares in the company, valued at $112,457.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Umh Properties, Inc. purchased 9,396 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were purchased at an average price of $16.39 per share, for a total transaction of $154,000.44. The disclosure for this purchase can be found here. Insiders have acquired 9,532 shares of company stock worth $156,004 over the last 90 days. 10.89% of the stock is owned by insiders.
UMH PROPERTIES/SH SH Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 114 manufactured home communities containing approximately 20,600 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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