Russell Investments Group Ltd. Buys New Holdings in UMH Properties, Inc. (UMH)
Russell Investments Group Ltd. bought a new position in UMH Properties, Inc. (NYSE:UMH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 53,039 shares of the real estate investment trust’s stock, valued at approximately $904,000. Russell Investments Group Ltd. owned approximately 0.17% of UMH Properties as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC lifted its holdings in shares of UMH Properties by 6.0% in the second quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock worth $186,000 after buying an additional 617 shares in the last quarter. Creative Planning lifted its holdings in shares of UMH Properties by 227.1% in the second quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock worth $103,000 after buying an additional 4,200 shares in the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of UMH Properties by 787.4% in the second quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 9,221 shares in the last quarter. 53.99% of the stock is currently owned by hedge funds and other institutional investors.
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UMH has been the topic of several research analyst reports. Zacks Investment Research raised shares of UMH Properties from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Thursday. Sidoti boosted their target price on shares of UMH Properties from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, May 25th. ValuEngine downgraded shares of UMH Properties from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. FBR & Co reaffirmed an “outperform” rating and set a $18.50 price target on shares of UMH Properties in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $18.70.
UMH Properties, Inc. (NYSE:UMH) traded down 0.06% on Thursday, reaching $15.90. 45,679 shares of the company’s stock were exchanged. UMH Properties, Inc. has a one year low of $11.28 and a one year high of $17.90. The firm’s market cap is $538.93 million. The firm has a 50 day moving average price of $15.90 and a 200 day moving average price of $16.01.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, August 11th. This represents a $0.72 annualized dividend and a yield of 4.53%. UMH Properties’s dividend payout ratio (DPR) is presently -799.91%.
In other UMH Properties news, Director James E. Mitchell bought 3,000 shares of the stock in a transaction on Friday, July 21st. The shares were bought at an average price of $25.00 per share, with a total value of $75,000.00. Following the purchase, the director now directly owns 3,000 shares in the company, valued at approximately $75,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 3,698 shares of company stock worth $85,999. 11.61% of the stock is currently owned by corporate insiders.
About UMH Properties
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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