State Street Corp Boosts Stock Holdings in UMH Properties, Inc. (NYSE:UMH)

State Street Corp lifted its position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 44.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,802,604 shares of the real estate investment trust's stock after buying an additional 863,089 shares during the quarter. State Street Corp owned approximately 3.55% of UMH Properties worth $55,127,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Maryland Capital Advisors Inc. bought a new position in shares of UMH Properties in the 3rd quarter worth $26,000. Loomis Sayles & Co. L P raised its holdings in UMH Properties by 2,760.0% in the third quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 2,346 shares in the last quarter. US Bancorp DE lifted its position in shares of UMH Properties by 261.1% during the third quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust's stock valued at $49,000 after buying an additional 1,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in UMH Properties by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 698 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of UMH Properties in the 2nd quarter worth $71,000. Hedge funds and other institutional investors own 75.40% of the company's stock.

Insider Transactions at UMH Properties

In related 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 approximately $153,945.18. This represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samuel A. Landy sold 50,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,104,826 shares in the company, 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 have sold 53,845 shares of company stock valued at $1,051,210 in the last 90 days. 8.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, UMH Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.25.

UMH Properties Stock Performance

Shares of NYSE:UMH traded down $0.35 during midday trading on Thursday, reaching $18.52. The company's stock had a trading volume of 496,366 shares, compared to its average volume of 418,869. 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 stock has a fifty day moving average of $19.12 and a 200 day moving average of $18.34. UMH Properties, Inc. has a twelve month low of $14.09 and a twelve month high of $20.64. The firm has a market capitalization of $1.46 billion, a PE ratio of 142.47, a P/E/G ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $61.57 million. During the same quarter in the previous year, the business posted $0.22 EPS. On average, equities analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a dividend of $0.215 per share. 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 4.64%. UMH Properties's payout ratio is 661.54%.

UMH Properties Company 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.