Franklin Resources Inc. Purchases Shares of 236,025 UMH Properties, Inc. (NYSE:UMH)

Franklin Resources Inc. acquired a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 236,025 shares of the real estate investment trust's stock, valued at approximately $4,421,000. Franklin Resources Inc. owned 0.30% of UMH Properties at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. State Street Corp raised its holdings in UMH Properties by 44.5% during the third quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust's stock worth $55,127,000 after acquiring an additional 863,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of UMH Properties by 476.3% during the 3rd 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 last quarter. Brookfield Corp ON bought a new stake in shares of UMH Properties during the 3rd quarter worth approximately $4,331,000. Eagle Asset Management Inc. acquired a new stake in shares of UMH Properties in the 3rd quarter valued at approximately $3,513,000. Finally, Marshall Wace LLP bought a new position in shares of UMH Properties in the second quarter valued at $2,300,000. 75.40% of the stock is currently owned by institutional investors.

Insider Activity

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the transaction, the director now owns 7,993 shares of the company's stock, valued at $153,945.18. This represents a 25.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samuel A. Landy sold 50,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $21,599,348.30. This represents a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

UMH Properties Price Performance

UMH traded up $0.04 during trading on Tuesday, hitting $18.96. 200,524 shares of the stock traded hands, compared to its average volume of 427,760. The business has a 50 day moving average price of $19.13 and a 200 day moving average price of $18.47. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties, Inc. has a twelve month low of $14.09 and a twelve month high of $20.64. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 145.86, a PEG ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings results 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). The business had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same period last year, the firm posted $0.22 EPS. Equities research analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.215 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.54%. UMH Properties's dividend payout ratio (DPR) is currently 661.54%.

Wall Street Analyst Weigh In

Separately, 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. Based on data from MarketBeat, UMH Properties presently has a consensus rating of "Moderate Buy" and an average price target of $21.25.

UMH Properties 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.