UMH Properties, Inc. (UMH) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC reduced its stake in UMH Properties, Inc. (NYSE:UMH) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 244,278 shares of the real estate investment trust’s stock after selling 8,975 shares during the period. Neuberger Berman Group LLC owned approximately 0.78% of UMH Properties worth $4,165,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Creative Planning raised its holdings in UMH Properties by 227.1% in the 2nd quarter. Creative Planning now owns 6,049 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 4,200 shares during the period. Bank of Montreal Can raised its holdings in UMH Properties by 787.4% in the 2nd quarter. Bank of Montreal Can now owns 10,392 shares of the real estate investment trust’s stock valued at $177,000 after buying an additional 9,221 shares during the period. Aperio Group LLC raised its holdings in UMH Properties by 6.0% in the 2nd quarter. Aperio Group LLC now owns 10,919 shares of the real estate investment trust’s stock valued at $186,000 after buying an additional 617 shares during the period. Virginia Retirement Systems ET AL purchased a new stake in UMH Properties in the 2nd quarter valued at about $211,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in UMH Properties by 0.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 27,048 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 92 shares during the period. Hedge funds and other institutional investors own 53.99% of the company’s stock.
Shares of UMH Properties, Inc. (UMH) opened at 15.91 on Thursday. The company has a 50-day moving average of $15.90 and a 200 day moving average of $16.01. The stock’s market capitalization is $539.27 million. UMH Properties, Inc. has a one year low of $11.28 and a one year high of $17.90.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend is Friday, August 11th. UMH Properties’s payout ratio is -799.91%.
In other UMH Properties news, Director James E. Mitchell purchased 3,000 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were purchased at an average cost of $25.00 per share, with a total value of $75,000.00. Following the purchase, the director now owns 3,000 shares in the company, valued at $75,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders acquired 3,698 shares of company stock worth $85,999. 11.61% of the stock is owned by corporate insiders.
UMH has been the topic of several research analyst reports. FBR & Co restated an “outperform” rating and issued a $18.50 price objective on shares of UMH Properties in a report on Tuesday, July 11th. BidaskClub lowered shares of UMH Properties from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. Sidoti boosted their price objective on shares of UMH Properties from $18.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, May 25th. DA Davidson initiated coverage on shares of UMH Properties in a report on Friday, September 1st. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, ValuEngine lowered shares of UMH Properties from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. UMH Properties currently has a consensus rating of “Buy” and a consensus price target of $18.88.
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UMH Properties Profile
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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