Concurrent Investment Advisors LLC Acquires New Stake in UMH Properties, Inc. (NYSE:UMH)

Concurrent Investment Advisors LLC acquired a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,190 shares of the real estate investment trust's stock, valued at approximately $614,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in UMH. Bank of New York Mellon Corp boosted its stake in UMH Properties by 9.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 388,861 shares of the real estate investment trust's stock worth $6,218,000 after purchasing an additional 34,249 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of UMH Properties by 11.0% during the second quarter. Envestnet Asset Management Inc. now owns 421,850 shares of the real estate investment trust's stock worth $6,745,000 after buying an additional 41,774 shares during the last quarter. Kennedy Capital Management LLC increased its position in UMH Properties by 245.9% in the 1st quarter. Kennedy Capital Management LLC now owns 664,377 shares of the real estate investment trust's stock valued at $10,789,000 after acquiring an additional 472,307 shares during the period. EntryPoint Capital LLC raised its stake in UMH Properties by 843.9% during the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 1,806 shares during the last quarter. Finally, Swiss National Bank lifted its position in UMH Properties by 1.9% during the 1st quarter. Swiss National Bank now owns 124,500 shares of the real estate investment trust's stock worth $2,022,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 75.40% of the company's stock.

Insider Buying and Selling

In related news, Director Kiernan Conway sold 2,700 shares of the business's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.54, for a total value of $52,758.00. Following the sale, the director now directly owns 412 shares in the company, valued at $8,050.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.63% of the stock is currently owned by insiders.

UMH Properties Price Performance

UMH Properties stock traded up $0.39 during midday trading on Friday, reaching $19.34. The company's stock had a trading volume of 472,734 shares, compared to its average volume of 258,549. The company has a debt-to-equity ratio of 1.11, a quick ratio of 6.77 and a current ratio of 8.48. UMH Properties, Inc. has a fifty-two week low of $13.91 and a fifty-two week high of $20.64. The firm has a market capitalization of $1.53 billion, a PE ratio of 148.78, a P/E/G ratio of 3.48 and a beta of 1.30. The stock's 50 day simple moving average is $19.22 and its 200 day simple moving average is $17.63.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 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 company had revenue of $60.67 million for the quarter, compared to analysts' expectations of $61.57 million. During the same period in the prior year, the firm posted $0.22 EPS. On average, equities research analysts forecast that UMH Properties, Inc. will post 0.92 earnings per share for the current year.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties's payout ratio is currently 661.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on UMH shares. B. Riley upped their price target on UMH Properties from $18.50 to $22.50 and gave the stock a "buy" rating in a research note on Thursday, August 15th. Wedbush upped their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, August 8th. Alliance Global Partners initiated coverage on shares of UMH Properties in a report on Thursday, July 18th. They issued a "buy" rating and a $21.00 target price on the stock. Finally, StockNews.com lowered shares of UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $21.25.

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.