NFJ Investment Group LLC Reduces Stake in UMH Properties, Inc. (NYSE:UMH)

NFJ Investment Group LLC lessened its holdings in UMH Properties, Inc. (NYSE:UMH - Free Report) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 164,516 shares of the real estate investment trust's stock after selling 51,970 shares during the period. NFJ Investment Group LLC owned about 0.21% of UMH Properties worth $3,236,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UMH. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of UMH Properties by 476.3% during 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 valued at $6,607,000 after buying an additional 277,590 shares during the last quarter. Eagle Asset Management Inc. purchased a new position in shares of UMH Properties in the third quarter valued at $3,513,000. Marshall Wace LLP purchased a new position in shares of UMH Properties in the second quarter valued at $2,300,000. AQR Capital Management LLC grew its holdings in shares of UMH Properties by 268.8% in the second quarter. AQR Capital Management LLC now owns 127,087 shares of the real estate investment trust's stock valued at $2,032,000 after purchasing an additional 92,625 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of UMH Properties by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,792 shares of the real estate investment trust's stock valued at $18,505,000 after purchasing an additional 56,662 shares in the last quarter. Institutional investors own 75.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Transactions at UMH Properties

In other news, Director Angela D. Pruitt sold 2,800 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total transaction of $53,928.00. Following the sale, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Samuel A. Landy sold 50,000 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,845 shares of company stock worth $1,051,210. Insiders own 8.63% of the company's stock.

UMH Properties Stock Up 2.6 %

Shares of UMH stock traded up $0.50 on Wednesday, hitting $19.50. The stock had a trading volume of 1,006,691 shares, compared to its average volume of 410,447. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average price of $19.07 and a 200 day moving average price of $18.04. The company has a market cap of $1.54 billion, a PE ratio of 146.17, a P/E/G ratio of 3.40 and a beta of 1.29. UMH Properties, Inc. has a one year low of $14.09 and a one year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last announced its 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 firm had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same quarter in the prior year, the firm posted $0.22 earnings per share. Research analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.215 per share. The ex-dividend date is Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.41%. UMH Properties's payout ratio is 661.59%.

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.