Panagora Asset Management Inc. Acquires 32,627 Shares of UMH Properties, Inc. (NYSE:UMH)

Panagora Asset Management Inc. increased its holdings in UMH Properties, Inc. (NYSE:UMH - Free Report) by 14.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 259,114 shares of the real estate investment trust's stock after acquiring an additional 32,627 shares during the period. Panagora Asset Management Inc. owned approximately 0.37% of UMH Properties worth $4,143,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in UMH. SRS Capital Advisors Inc. boosted its position in shares of UMH Properties by 382.8% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,711 shares during the period. EntryPoint Capital LLC boosted its position in shares of UMH Properties by 843.9% during the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust's stock worth $33,000 after buying an additional 1,806 shares during the period. Ridgewood Investments LLC purchased a new position in shares of UMH Properties during the second quarter worth $71,000. Quadrant Capital Group LLC boosted its position in shares of UMH Properties by 52.7% during the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust's stock worth $82,000 after buying an additional 1,856 shares during the period. Finally, New York Life Investment Management LLC purchased a new position in UMH Properties in the fourth quarter valued at $156,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

UMH has been the subject of a number of recent research reports. StockNews.com upgraded UMH Properties from a "sell" rating to a "hold" rating in a report on Tuesday, August 13th. William Blair reiterated a "neutral" rating on shares of UMH Properties in a report on Monday, May 13th. Alliance Global Partners initiated coverage on UMH Properties in a report on Thursday, July 18th. They issued a "buy" rating and a $21.00 target price for the company. Wedbush raised their price target on 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 raised their price target on UMH Properties from $18.50 to $22.50 and gave the company a "buy" rating in a research note 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.25.

UMH Properties Stock Performance

Shares of NYSE UMH traded up $0.26 during midday trading on Friday, reaching $19.46. 302,715 shares of the company were exchanged, compared to its average volume of 398,536. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. UMH Properties, Inc. has a 1 year low of $13.26 and a 1 year high of $19.79. The stock has a fifty day simple moving average of $17.81 and a 200 day simple moving average of $16.31. The stock has a market cap of $1.43 billion, a P/E ratio of -129.72, a PEG ratio of 3.52 and a beta of 1.29.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.21). UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. The company had revenue of $60.33 million for the quarter, compared to analysts' expectations of $59.84 million. During the same period in the prior year, the business earned $0.21 EPS. On average, research analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Thursday, August 15th. UMH Properties's dividend payout ratio is currently -573.30%.

Insider Buying and Selling

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the transaction, the director now owns 412 shares in the company, valued at approximately $8,050.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other UMH Properties news, Director Michael P. Landy bought 4,700 shares of the company's stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, for a total transaction of $72,615.00. Following the transaction, the director now owns 341,796 shares of the company's stock, valued at approximately $5,280,748.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kiernan Conway sold 2,700 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total value of $52,758.00. Following the completion of the sale, the director now owns 412 shares in the company, valued at approximately $8,050.48. The disclosure for this sale can be found here. 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.