Teachers Insurance & Annuity Association of America cut its holdings in UMH PROPERTIES/SH SH (NYSE:UMH) by 60.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,345 shares of the real estate investment trust’s stock after selling 18,876 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in UMH PROPERTIES/SH SH were worth $153,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in UMH. Creative Financial Designs Inc. ADV raised its stake in UMH PROPERTIES/SH SH by 215.4% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,949 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,331 shares during the last quarter. Bank of Montreal Can raised its stake in UMH PROPERTIES/SH SH by 148,600.0% during the 2nd quarter. Bank of Montreal Can now owns 2,974 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 2,972 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in 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 valued at $41,000 after buying an additional 1,569 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in UMH PROPERTIES/SH SH by 5,101.5% during 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 buying an additional 6,785 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in UMH PROPERTIES/SH SH by 17.5% during the 2nd quarter. Prudential Financial Inc. now owns 13,375 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 1,990 shares during the last quarter. 60.16% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the stock. Maxim Group set a $17.00 target price on shares of UMH PROPERTIES/SH SH and gave the company a “buy” rating in a research note on Monday, August 12th. Zacks Investment Research lowered UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. TheStreet lowered UMH PROPERTIES/SH SH from a “c” rating to a “d+” rating in a research note on Wednesday, August 21st. DA Davidson restated a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. Finally, Compass Point assumed coverage on UMH PROPERTIES/SH SH in a research note on Monday, July 22nd. They issued a “buy” rating and a $19.50 price objective for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $17.40.

Shares of NYSE:UMH traded down $0.06 during midday trading on Friday, hitting $13.58. The company had a trading volume of 7,840 shares, compared to its average volume of 181,164. 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 company has a market cap of $551.47 million, a price-to-earnings ratio of 18.28, a PEG ratio of 2.02 and a beta of 0.62. UMH PROPERTIES/SH SH has a 12-month low of $11.14 and a 12-month high of $15.99. The company has a fifty day moving average of $12.80 and a two-hundred day moving average of $13.24.

UMH PROPERTIES/SH SH (NYSE:UMH) last posted its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.17 by ($0.32). The company had revenue of $37.23 million during 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%. Research analysts expect that UMH PROPERTIES/SH SH will post 0.68 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Wednesday, August 14th. UMH PROPERTIES/SH SH’s dividend payout ratio is currently 97.30%.

In related news, Chairman Eugene W. Landy sold 8,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $11.86, for a total value of $94,880.00. Following the completion of the transaction, the chairman now owns 603,555 shares of the company’s stock, valued at approximately $7,158,162.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 cost of $11.80 per share, with a total value of $29,500.00. Following the acquisition, the director now directly owns 34,441 shares in the company, valued at approximately $406,403.80. The disclosure for this purchase can be found here. Insiders purchased a total of 23,535 shares of company stock valued at $304,495 in the last ninety days. 10.84% of the stock is currently owned by insiders.

About UMH PROPERTIES/SH SH

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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Institutional Ownership by Quarter for UMH PROPERTIES/SH SH (NYSE:UMH)

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