Employees Retirement System of Texas Makes New Investment in UMH Properties, Inc. (NYSE:UMH)

Employees Retirement System of Texas bought a new stake in UMH Properties, Inc. (NYSE:UMH - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 136,000 shares of the real estate investment trust's stock, valued at approximately $2,568,000. Employees Retirement System of Texas owned approximately 0.17% of UMH Properties as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in UMH Properties during the fourth quarter valued at approximately $23,396,000. State Street Corp raised its position in shares of UMH Properties by 44.5% during the 3rd quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust's stock valued at $55,127,000 after acquiring an additional 863,089 shares in the last quarter. Vanguard Group Inc. lifted its stake in UMH Properties by 11.9% during the fourth quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust's stock worth $141,722,000 after purchasing an additional 799,798 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in UMH Properties by 476.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,874 shares of the real estate investment trust's stock worth $6,607,000 after purchasing an additional 277,590 shares during the period. Finally, Franklin Resources Inc. bought a new stake in UMH Properties during the third quarter valued at $4,421,000. Institutional investors and hedge funds own 75.40% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently commented on UMH. StockNews.com raised shares of UMH Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush reaffirmed a "neutral" rating and set a $20.00 target price on shares of UMH Properties in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, UMH Properties has an average rating of "Hold" and an average target price of $21.17.

UMH Properties Stock Performance

UMH Properties stock traded up $0.13 during midday trading on Friday, reaching $16.84. 361,192 shares of the stock traded hands, compared to its average volume of 425,357. The firm has a fifty day moving average price of $18.06 and a two-hundred day moving average price of $18.57. UMH Properties, Inc. has a fifty-two week low of $14.73 and a fifty-two week high of $20.64. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 129.55, a PEG ratio of 2.93 and a beta of 1.17. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of ($126.74) million during the quarter, compared to analyst estimates of $59.73 million. On average, equities research analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be paid a dividend of $0.225 per share. This is a boost from UMH Properties's previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Thursday, May 15th. UMH Properties's payout ratio is currently 3,000.00%.

About UMH Properties

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.