Wells Fargo & Company MN cut its stake in shares of UMH PROPERTIES/SH SH (NYSE:UMH) by 36.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 669,424 shares of the real estate investment trust’s stock after selling 378,507 shares during the quarter. Wells Fargo & Company MN owned about 1.69% of UMH PROPERTIES/SH SH worth $8,308,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of UMH PROPERTIES/SH SH by 114.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,937 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,569 shares during the period. BNP Paribas Arbitrage SA grew its stake in UMH PROPERTIES/SH SH by 5,101.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,918 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 6,785 shares during the last quarter. State of Alaska Department of Revenue grew its stake in UMH PROPERTIES/SH SH by 22.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 13,615 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 2,534 shares during the last quarter. Forsta AP Fonden grew its stake in UMH PROPERTIES/SH SH by 16.5% in the 1st quarter. Forsta AP Fonden now owns 14,100 shares of the real estate investment trust’s stock valued at $199,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in UMH PROPERTIES/SH SH in the 2nd quarter valued at about $211,000. 60.16% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the stock. TheStreet cut shares of UMH PROPERTIES/SH SH from a “c” rating to a “d+” rating in a research note on Wednesday, August 21st. Compass Point assumed coverage on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 22nd. They issued a “buy” rating and a $19.50 price objective on the stock. DA Davidson reissued a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. Maxim Group set a $17.00 price objective on shares of UMH PROPERTIES/SH SH and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research cut shares of UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. UMH PROPERTIES/SH SH currently has a consensus rating of “Buy” and a consensus target price of $17.40.
In other UMH PROPERTIES/SH SH news, Director Steven B. Wolgin bought 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $11.80 per share, with a total value of $29,500.00. Following the transaction, the director now owns 34,441 shares in the company, valued at $406,403.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $11.86, for a total transaction of $94,880.00. Following the sale, the chairman now directly owns 603,555 shares of the company’s stock, valued at approximately $7,158,162.30. The disclosure for this sale can be found here. In the last three months, insiders have purchased 23,535 shares of company stock valued at $304,495. Corporate insiders own 10.84% of the company’s stock.
NYSE:UMH traded up $0.04 on Friday, reaching $13.68. The stock had a trading volume of 62,422 shares, compared to its average volume of 181,164. The company has a market cap of $551.47 million, a price-to-earnings ratio of 18.48, a P/E/G ratio of 2.02 and a beta of 0.62. The company has a debt-to-equity ratio of 2.59, a current ratio of 3.05 and a quick ratio of 3.05. The firm’s fifty day moving average is $12.80 and its two-hundred day moving average is $13.24. UMH PROPERTIES/SH SH has a 12-month low of $11.14 and a 12-month high of $15.99.
UMH PROPERTIES/SH SH (NYSE:UMH) last announced its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.32). The company had revenue of $37.23 million for the quarter, compared to analysts’ expectations of $36.26 million. UMH PROPERTIES/SH SH had a negative return on equity of 22.16% and a negative net margin of 23.38%. As a group, research analysts forecast that UMH PROPERTIES/SH SH will post 0.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.72 annualized dividend and a dividend yield of 5.27%. UMH PROPERTIES/SH SH’s payout ratio is currently 97.30%.
UMH PROPERTIES/SH SH Company Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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