Private Management Group Inc. Acquires 280,436 Shares of UMH Properties, Inc. (NYSE:UMH)

Private Management Group Inc. boosted its holdings in UMH Properties, Inc. (NYSE:UMH) by 27.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,316,789 shares of the real estate investment trust’s stock after acquiring an additional 280,436 shares during the quarter. Private Management Group Inc. owned 1.98% of UMH Properties worth $20,173,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in UMH Properties by 29.5% in the 3rd quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock valued at $35,501,000 after acquiring an additional 576,304 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in UMH Properties by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 742,848 shares of the real estate investment trust’s stock valued at $10,415,000 after acquiring an additional 46,291 shares in the last quarter. Raymond James & Associates lifted its position in UMH Properties by 10.1% in the 4th quarter. Raymond James & Associates now owns 664,868 shares of the real estate investment trust’s stock valued at $10,186,000 after acquiring an additional 61,239 shares in the last quarter. D.A. Davidson & CO. lifted its position in UMH Properties by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 657,676 shares of the real estate investment trust’s stock valued at $9,221,000 after acquiring an additional 37,909 shares in the last quarter. Finally, Invesco Ltd. lifted its position in UMH Properties by 21.4% in the 3rd quarter. Invesco Ltd. now owns 625,464 shares of the real estate investment trust’s stock valued at $8,769,000 after acquiring an additional 110,276 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.

Insider Transactions at UMH Properties

In other news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total transaction of $155,918.00. Following the completion of the sale, the chief operating officer now owns 97,049 shares in the company, valued at approximately $1,544,049.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 8.63% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. B. Riley assumed coverage on shares of UMH Properties in a research note on Thursday, March 21st. They issued a “buy” rating and a $18.50 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $17.00 price objective on shares of UMH Properties in a research note on Monday, March 25th. Compass Point increased their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.00.

UMH Properties Stock Performance

Shares of UMH stock traded up $0.06 during trading hours on Tuesday, hitting $15.60. 176,115 shares of the company were exchanged, compared to its average volume of 363,417. The firm has a fifty day simple moving average of $15.52 and a 200 day simple moving average of $15.00. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. UMH Properties, Inc. has a 52-week low of $13.26 and a 52-week high of $16.85. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -103.96, a P/E/G ratio of 2.75 and a beta of 1.24.

UMH Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.215 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.86 annualized dividend and a dividend yield of 5.51%. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio (DPR) is presently -546.63%.

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.