State of Alaska Department of Revenue raised its stake in UMH Properties, Inc. (NYSE:UMH – Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,130 shares of the real estate investment trust’s stock after acquiring an additional 1,769 shares during the quarter. State of Alaska Department of Revenue’s holdings in UMH Properties were worth $430,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in UMH Properties by 5.4% during the first quarter. Vanguard Group Inc. now owns 5,139,580 shares of the real estate investment trust’s stock worth $126,383,000 after buying an additional 264,005 shares during the period. BlackRock Inc. lifted its position in UMH Properties by 22.9% during the second quarter. BlackRock Inc. now owns 4,759,328 shares of the real estate investment trust’s stock worth $76,054,000 after buying an additional 886,892 shares during the period. American Century Companies Inc. lifted its position in UMH Properties by 29.5% during the third quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock worth $35,501,000 after buying an additional 576,304 shares during the period. State Street Corp lifted its position in UMH Properties by 5.1% during the second quarter. State Street Corp now owns 1,697,046 shares of the real estate investment trust’s stock worth $27,119,000 after buying an additional 82,823 shares during the period. Finally, Geode Capital Management LLC lifted its position in UMH Properties by 8.4% during the second quarter. Geode Capital Management LLC now owns 1,230,411 shares of the real estate investment trust’s stock worth $19,662,000 after buying an additional 95,711 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.
UMH Properties Stock Performance
UMH Properties stock opened at $15.45 on Friday. The stock’s 50-day moving average is $15.42 and its 200-day moving average is $14.91. The company has a market cap of $1.07 billion, a price-to-earnings ratio of -102.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.24. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.52 and a quick ratio of 6.52. UMH Properties, Inc. has a 12 month low of $13.26 and a 12 month high of $16.85.
UMH Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.57%. This is an increase from UMH Properties’s previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, May 14th. UMH Properties’s dividend payout ratio (DPR) is -546.63%.
Insider Transactions at UMH Properties
In other news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares in the company, valued at approximately $1,544,049.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 239 shares of company stock worth $3,506 in the last three months. 9.09% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several research firms recently weighed in on UMH. Compass Point increased their target price on UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Wedbush reiterated a “neutral” rating and set a $17.00 target price on shares of UMH Properties in a research report on Monday, March 25th. StockNews.com downgraded UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, B. Riley initiated coverage on UMH Properties in a report on Thursday, March 21st. They issued a “buy” rating and a $18.50 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, UMH Properties currently has a consensus rating of “Hold” and a consensus target price of $19.00.
Check Out Our Latest Analysis on UMH
UMH Properties Profile
(Free Report)
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.
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