Connors Investor Services Inc. boosted its stake in UMH Properties, Inc. (NYSE:UMH - Free Report) by 832.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 123,117 shares of the real estate investment trust's stock after buying an additional 109,917 shares during the period. Connors Investor Services Inc. owned approximately 0.16% of UMH Properties worth $2,324,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in UMH Properties by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust's stock worth $141,722,000 after buying an additional 799,798 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in UMH Properties by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,251,335 shares of the real estate investment trust's stock worth $99,146,000 after purchasing an additional 57,547 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of UMH Properties by 124.5% in the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock valued at $76,121,000 after buying an additional 2,236,080 shares during the period. Copeland Capital Management LLC boosted its stake in shares of UMH Properties by 2.4% in the fourth quarter. Copeland Capital Management LLC now owns 2,828,469 shares of the real estate investment trust's stock valued at $53,401,000 after buying an additional 67,353 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in UMH Properties by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,992,420 shares of the real estate investment trust's stock worth $37,617,000 after acquiring an additional 48,480 shares during the period. Hedge funds and other institutional investors own 75.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of UMH Properties from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Wedbush reaffirmed a "neutral" rating and issued a $20.00 target price on shares of UMH Properties in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $21.17.
View Our Latest Report on UMH
UMH Properties Price Performance
Shares of UMH Properties stock traded down $0.28 on Monday, hitting $17.50. The company's stock had a trading volume of 99,444 shares, compared to its average volume of 430,511. The company has a market capitalization of $1.44 billion, a P/E ratio of 134.70, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. UMH Properties, Inc. has a 52-week low of $14.73 and a 52-week high of $20.64. The firm has a fifty day moving average price of $17.88 and a 200-day moving average price of $18.40. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11.
UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $61.23 million for the quarter, compared to analyst estimates of $62.82 million. On average, equities research analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.
UMH Properties Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.14%. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. UMH Properties's dividend payout ratio (DPR) is presently 3,000.00%.
About UMH Properties
(
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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