Private Management Group Inc. Sells 16,333 Shares of UMH Properties, Inc. (NYSE:UMH)

Private Management Group Inc. cut its holdings in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,233,570 shares of the real estate investment trust's stock after selling 16,333 shares during the quarter. Private Management Group Inc. owned approximately 1.56% of UMH Properties worth $23,290,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Copeland Capital Management LLC raised its position in UMH Properties by 2.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,828,469 shares of the real estate investment trust's stock worth $53,401,000 after acquiring an additional 67,353 shares during the period. State Street Corp raised its holdings in shares of UMH Properties by 44.5% in the 3rd quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust's stock worth $55,127,000 after purchasing an additional 863,089 shares during the period. Geode Capital Management LLC raised its holdings in shares of UMH Properties by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,703,794 shares of the real estate investment trust's stock worth $33,520,000 after purchasing an additional 59,705 shares during the period. Jennison Associates LLC lifted its stake in UMH Properties by 11.0% in the fourth quarter. Jennison Associates LLC now owns 1,462,585 shares of the real estate investment trust's stock valued at $27,614,000 after purchasing an additional 145,310 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in UMH Properties by 6.4% during 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 during the period. 75.40% of the stock is currently owned by institutional investors.

UMH Properties Stock Performance

Shares of NYSE:UMH traded down $0.09 during midday trading on Friday, reaching $18.12. 200,352 shares of the company traded hands, compared to its average volume of 306,118. The firm's fifty day moving average price is $18.61 and its two-hundred day moving average price is $18.94. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 139.40, a price-to-earnings-growth ratio of 3.02 and a beta of 1.28. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties, Inc. has a 12 month low of $14.09 and a 12 month high of $20.64.

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

UMH Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.75%. The ex-dividend date of this dividend is Tuesday, February 18th. UMH Properties's dividend payout ratio is presently 661.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UMH shares. Wedbush reaffirmed a "neutral" rating and set a $20.00 price target on shares of UMH Properties in a research report on Monday, January 13th. StockNews.com upgraded shares of UMH Properties from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Insider Buying and Selling at UMH Properties

In related news, Director Angela D. Pruitt sold 2,800 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the transaction, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the sale, the chief executive officer now owns 1,104,826 shares of the company's stock, valued at approximately $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 a total of 53,845 shares of company stock valued at $1,051,210 in the last three months. Company insiders own 8.63% of the company's stock.

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.