Connors Investor Services Inc. Acquires 109,917 Shares of UMH Properties, Inc. (NYSE:UMH)

Connors Investor Services Inc. boosted its stake in UMH Properties, Inc. (NYSE:UMH - Free Report) by 832.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,117 shares of the real estate investment trust's stock after purchasing an additional 109,917 shares during the quarter. Connors Investor Services Inc. owned about 0.16% of UMH Properties worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors raised its holdings in shares of UMH Properties by 124.5% during the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock worth $76,121,000 after acquiring an additional 2,236,080 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of UMH Properties in the 4th quarter valued at about $23,396,000. Vanguard Group Inc. lifted its holdings in shares of UMH Properties by 11.9% in the fourth quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust's stock valued at $141,722,000 after purchasing an additional 799,798 shares in the last quarter. APG Asset Management US Inc. acquired a new position in shares of UMH Properties during the fourth quarter worth about $9,121,000. Finally, Northern Trust Corp grew its holdings in shares of UMH Properties by 27.1% during the fourth quarter. Northern Trust Corp now owns 1,180,928 shares of the real estate investment trust's stock worth $22,296,000 after buying an additional 251,509 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

UMH Properties Price Performance

NYSE:UMH opened at $17.65 on Wednesday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a fifty day simple moving average of $17.89 and a 200 day simple moving average of $18.43. UMH Properties, Inc. has a 1-year low of $14.73 and a 1-year high of $20.64. The stock has a market capitalization of $1.46 billion, a PE ratio of 135.74, a P/E/G ratio of 2.93 and a beta of 1.17.

UMH Properties (NYSE:UMH - Get Free Report) last issued its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.21. The business had revenue of ($126.74) million during the quarter, compared to the consensus estimate of $59.73 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. On average, research analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.10%. UMH Properties's payout ratio is presently 3,000.00%.

Analysts Set New Price Targets

Several research firms have commented on UMH. Wedbush restated a "neutral" rating and issued a $20.00 target price on shares of UMH Properties in a research note on Monday, January 13th. StockNews.com upgraded shares of UMH Properties from a "sell" rating to a "hold" rating in a report on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $21.17.

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.

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