Vestcor Inc Makes New Investment in UMH Properties, Inc. (NYSE:UMH)

Vestcor Inc bought a new position in UMH Properties, Inc. (NYSE:UMH - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 56,873 shares of the real estate investment trust's stock, valued at approximately $1,119,000. Vestcor Inc owned 0.07% of UMH Properties as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of UMH. Barclays PLC lifted its holdings in UMH Properties by 101.1% during the third quarter. Barclays PLC now owns 160,406 shares of the real estate investment trust's stock valued at $3,155,000 after purchasing an additional 80,660 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of UMH Properties by 4.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 97,624 shares of the real estate investment trust's stock valued at $1,920,000 after purchasing an additional 3,925 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of UMH Properties by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 82,200 shares of the real estate investment trust's stock valued at $1,617,000 after buying an additional 3,200 shares in the last quarter. Brookfield Corp ON bought a new position in UMH Properties in the 3rd quarter worth $4,331,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in UMH Properties in the 3rd quarter worth $287,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on UMH. StockNews.com upgraded UMH Properties from a "sell" rating to a "hold" rating in a research report on Saturday, November 16th. B. Riley upped their price target on UMH Properties from $18.50 to $22.50 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $21.25.

Insider Activity

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the firm's stock in a transaction dated Tuesday, November 19th. The shares were 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 $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samuel A. Landy sold 50,000 shares of the business'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 transaction, the chief executive officer now owns 1,104,826 shares of the company's stock, valued at $21,599,348.30. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,845 shares of company stock worth $1,051,210. 8.63% of the stock is currently owned by corporate insiders.

UMH Properties Price Performance

Shares of NYSE:UMH traded down $0.10 during mid-day trading on Friday, reaching $19.37. The stock had a trading volume of 364,951 shares, compared to its average volume of 416,043. The business's 50 day moving average price is $19.09 and its 200 day moving average price is $18.23. UMH Properties, Inc. has a 1 year low of $14.09 and a 1 year high of $20.64. The company has a market cap of $1.53 billion, a P/E ratio of 149.01, a price-to-earnings-growth ratio of 3.46 and a beta of 1.29. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH - Get Free Report) last posted 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). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The firm 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 posted $0.22 earnings per share. Research analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.215 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.44%. UMH Properties's dividend payout ratio (DPR) is presently 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.