Insider Buying: UMH Properties (NYSE:UMH) Director Acquires $19,578.00 in Stock

UMH Properties, Inc. (NYSE:UMH) Director William Mitchell purchased 1,300 shares of the business’s stock in a transaction that occurred on Wednesday, November 4th. The shares were purchased at an average cost of $15.06 per share, with a total value of $19,578.00. Following the completion of the acquisition, the director directly owned 38,682 shares of the company’s stock, valued at $582,550.92. This represents a 3.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

William Edward Mitchell also recently made the following trade(s):

• On Thursday, October 15th, William Mitchell purchased 68 shares of UMH Properties stock. The stock was purchased at an average price of $14.62 per share, for a total transaction of $994.16.
• On Friday, September 25th, William Mitchell purchased 1,300 shares of UMH Properties stock. The shares were bought at an average price of $15.30 per share, for a total transaction of $19,890.00.
• On Tuesday, September 15th, William Mitchell purchased 67 shares of UMH Properties stock. The stock was acquired at an average price of $14.88 per share, for a total transaction of $996.96.
• On Monday, August 17th, William Mitchell purchased 64 shares of UMH Properties stock. The shares were bought at an average price of $15.62 per share, with a total value of $999.68.

UMH Properties Stock Down 1.5%

UMH stock opened at $14.91 on Friday. The stock has a fifty day moving average of $15.47 and a 200-day moving average of $15.45. UMH Properties, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $16.77. The company has a debt-to-equity ratio of 1.28, a quick ratio of 6.90 and a current ratio of 6.90. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 298.16 and a beta of 0.99.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.06). UMH Properties had a return on equity of 4.41% and a net margin of 9.04%. The company had revenue of $74.14 million during the quarter, compared to analysts’ expectations of $62.23 million. As a group, equities research analysts predict that UMH Properties, Inc. will post 0.99 earnings per share for the current year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be issued a $0.2250 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, November 16th. UMH Properties’s dividend payout ratio is 1,800.00%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UMH shares. Weiss Ratings restated a “hold (c)” rating on shares of UMH Properties in a research note on Thursday, October 29th. Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in shares of UMH Properties by 56.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,039 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 733 shares in the last quarter. Allworth Financial LP acquired a new position in shares of UMH Properties during the 2nd quarter worth about $45,000. Summit Securities Group LLC bought a new position in shares of UMH Properties during the first quarter worth approximately $46,000. State of Wyoming acquired a new stake in shares of UMH Properties during the second quarter valued at about $72,000. Finally, Bard Associates Inc. acquired a new position in shares of UMH Properties during the second quarter worth approximately $128,000. 75.40% of the stock is owned by institutional investors and hedge funds.

About UMH Properties

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