UMH Properties, Inc. (NYSE:UMH) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lowered its stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 79.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,608 shares of the real estate investment trust's stock after selling 153,583 shares during the period. Cerity Partners LLC owned 0.05% of UMH Properties worth $779,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. purchased a new stake in shares of UMH Properties in the third quarter valued at about $26,000. US Bancorp DE boosted its holdings in UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust's stock valued at $49,000 after purchasing an additional 1,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of UMH Properties by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 698 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of UMH Properties during the 2nd quarter worth approximately $71,000. Finally, Quest Partners LLC raised its position in shares of UMH Properties by 337.7% during the 2nd quarter. Quest Partners LLC now owns 10,552 shares of the real estate investment trust's stock valued at $169,000 after buying an additional 8,141 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

UMH Properties Trading Down 3.0 %

Shares of NYSE UMH traded down $0.59 during trading on Friday, reaching $19.26. The stock had a trading volume of 536,793 shares, compared to its average volume of 416,109. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The company has a market cap of $1.52 billion, a P/E ratio of 152.70, a PEG ratio of 3.40 and a beta of 1.29. UMH Properties, Inc. has a fifty-two week low of $14.09 and a fifty-two week high of $20.64. The business's 50-day moving average price is $19.08 and its 200-day moving average price is $18.06.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $60.67 million for the quarter, compared to analysts' expectations of $61.57 million. During the same quarter last year, the company earned $0.22 earnings per share. On average, equities research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties's dividend payout ratio is currently 661.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wedbush raised their target price on UMH Properties from $17.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, August 8th. B. Riley raised their price objective on UMH Properties from $18.50 to $22.50 and gave the stock a "buy" rating in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of UMH Properties from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Insider Activity

In related news, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total value of $977,500.00. Following the completion of the transaction, the chief executive officer now owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the completion of the sale, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,845 shares of company stock worth $1,051,210. Corporate insiders own 8.63% of the company's stock.

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.