William Edward Mitchell Sells 2,000 Shares of UMH Properties (NYSE:UMH) Stock

UMH Properties, Inc. (NYSE:UMH) Director William Edward Mitchell sold 2,000 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $15.00, for a total value of $30,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

UMH Properties Stock Down 0.2%

Shares of UMH Properties stock traded down $0.03 during midday trading on Wednesday, reaching $15.26. 142,216 shares of the company’s stock traded hands, compared to its average volume of 489,230. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 109.11, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. The company’s 50 day simple moving average is $14.73 and its 200 day simple moving average is $16.02. UMH Properties, Inc. has a 52 week low of $13.95 and a 52 week high of $20.03. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56.

UMH Properties (NYSE:UMH) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.25. The firm had revenue of $66.92 million during the quarter, compared to analysts’ expectations of $68.70 million. UMH Properties had a return on equity of 5.19% and a net margin of 12.18%. Equities analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Monday, November 17th. UMH Properties’s payout ratio is presently 1,125.00%.

Institutional Investors Weigh In On UMH Properties

A number of institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new stake in UMH Properties in the 1st quarter worth about $788,000. Principal Financial Group Inc. lifted its position in shares of UMH Properties by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust’s stock valued at $726,000 after acquiring an additional 1,362 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in UMH Properties by 1.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust’s stock valued at $99,569,000 after purchasing an additional 73,196 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of UMH Properties by 1,091.0% in the 1st quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust’s stock valued at $16,759,000 after buying an additional 820,934 shares in the last quarter. Finally, Ulland Investment Advisors LLC lifted its holdings in shares of UMH Properties by 220.6% during the 2nd quarter. Ulland Investment Advisors LLC now owns 28,915 shares of the real estate investment trust’s stock worth $485,000 after acquiring an additional 19,895 shares during the period. Institutional investors own 75.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen lowered UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Weiss Ratings reissued a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, October 8th. Finally, Cantor Fitzgerald started coverage on shares of UMH Properties in a research note on Wednesday, October 1st. They set a “neutral” rating and a $15.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.50.

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.