Principal Financial Group Inc. Purchases New Position in UMH Properties, Inc. (NYSE:UMH)

Principal Financial Group Inc. acquired a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 34,314 shares of the real estate investment trust's stock, valued at approximately $675,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue raised its stake in shares of UMH Properties by 2.2% during the third quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust's stock valued at $614,000 after acquiring an additional 663 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in UMH Properties by 36.8% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 698 shares during the last quarter. Arizona State Retirement System lifted its holdings in UMH Properties by 6.4% during the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust's stock worth $295,000 after buying an additional 1,111 shares during the period. Cornercap Investment Counsel Inc. grew its position in shares of UMH Properties by 2.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust's stock valued at $768,000 after buying an additional 1,124 shares during the last quarter. Finally, Centiva Capital LP increased its stake in shares of UMH Properties by 4.0% in the third quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust's stock valued at $618,000 after buying an additional 1,195 shares during the period. Institutional investors and hedge funds own 75.40% of the company's stock.

UMH Properties Trading Down 3.7 %

UMH Properties stock traded down $0.70 during trading hours on Monday, reaching $18.30. 318,543 shares of the company's stock were exchanged, compared to its average volume of 317,614. The firm has a market capitalization of $1.44 billion, a PE ratio of 140.78, a PEG ratio of 3.47 and a beta of 1.29. 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 firm's 50 day simple moving average is $19.11 and its 200 day simple moving average is $18.69. UMH Properties, Inc. has a twelve month low of $14.09 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. During the same period in the prior year, the business earned $0.22 EPS. Research analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

Insider Activity

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the firm's stock in a transaction that occurred on 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 sale, the director now owns 7,993 shares of the company's stock, valued at approximately $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Samuel A. Landy sold 50,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the transaction, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 4.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 53,845 shares of company stock worth $1,051,210 in the last quarter. 8.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com raised 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's stock. Based on data from MarketBeat.com, the stock has an average 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.