Eagle Asset Management Inc. Buys Shares of 181,657 UMH Properties, Inc. (NYSE:UMH)

Eagle Asset Management Inc. bought a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 181,657 shares of the real estate investment trust's stock, valued at approximately $3,513,000. Eagle Asset Management Inc. owned 0.23% of UMH Properties at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC acquired a new position in shares of UMH Properties in the 1st quarter valued at $178,000. State Board of Administration of Florida Retirement System grew its position in UMH Properties by 71.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 27,259 shares of the real estate investment trust's stock valued at $403,000 after acquiring an additional 11,350 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in UMH Properties by 13.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 83,437 shares of the real estate investment trust's stock worth $1,355,000 after acquiring an additional 9,615 shares during the last quarter. EntryPoint Capital LLC raised its holdings in shares of UMH Properties by 843.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust's stock worth $33,000 after purchasing an additional 1,806 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of UMH Properties by 7.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,577 shares of the real estate investment trust's stock worth $530,000 after purchasing an additional 2,158 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

Insider Activity at UMH Properties

In related news, CEO Samuel A. Landy sold 50,000 shares of the company's stock in a transaction 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 sale, the chief executive officer now directly owns 1,104,826 shares of the company's stock, valued at $21,599,348.30. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Angela D. Pruitt sold 2,800 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now directly owns 7,993 shares of the company's stock, 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. 8.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

UMH Properties Stock Up 0.1 %

NYSE:UMH traded up $0.02 during trading hours on Tuesday, hitting $19.41. The stock had a trading volume of 459,955 shares, compared to its average volume of 405,585. The company has a market cap of $1.53 billion, a PE ratio of 149.27, a price-to-earnings-growth ratio of 3.45 and a beta of 1.30. The business has a 50 day simple moving average of $19.15 and a two-hundred day simple moving average of $17.90. UMH Properties, Inc. has a 1-year low of $13.91 and a 1-year high of $20.64. 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 released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). The firm had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. During the same period in the previous year, the business posted $0.22 earnings per share. Analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties's dividend payout ratio is currently 661.54%.

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.