Cherry Creek Investment Advisors Inc. Invests $675,000 in UMH Properties, Inc. (NYSE:UMH)

Cherry Creek Investment Advisors Inc. purchased a new stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,083 shares of the real estate investment trust's stock, valued at approximately $675,000.

Several other institutional investors also recently modified their holdings of UMH. GF Fund Management CO. LTD. bought a new stake in shares of UMH Properties during the 4th quarter valued at $26,000. Farther Finance Advisors LLC lifted its position in shares of UMH Properties by 1,011.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,456 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of UMH Properties by 861.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,951 shares of the real estate investment trust's stock worth $37,000 after acquiring an additional 1,748 shares during the period. Tower Research Capital LLC TRC grew its position in shares of UMH Properties by 374.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,568 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 2,027 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in UMH Properties by 3,585.3% during the 1st quarter. GAMMA Investing LLC now owns 6,265 shares of the real estate investment trust's stock valued at $117,000 after purchasing an additional 6,095 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the transaction, the director now directly owns 215,427 shares in the company, valued at approximately $3,705,344.40. This trade represents a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction on Monday, May 19th. The shares were sold at an average price of $17.11, for a total value of $427,750.00. Following the completion of the transaction, the chief executive officer now owns 1,165,265 shares in the company, valued at $19,937,684.15. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 160,826 shares of company stock valued at $2,745,314 over the last quarter. 8.77% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UMH. Wall Street Zen raised shares of UMH Properties from a "sell" rating to a "hold" rating in a report on Friday, June 6th. Maxim Group decreased their price target on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, B. Riley restated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $21.00.

UMH Properties Trading Down 2.6%

Shares of UMH traded down $0.44 during midday trading on Wednesday, hitting $16.58. The stock had a trading volume of 408,194 shares, compared to its average volume of 436,353. UMH Properties, Inc. has a 1 year low of $15.34 and a 1 year high of $20.64. The firm has a market cap of $1.39 billion, a PE ratio of 138.18, a price-to-earnings-growth ratio of 2.83 and a beta of 1.12. The company has a debt-to-equity ratio of 1.02, a current ratio of 6.98 and a quick ratio of 6.98. The stock's 50 day moving average is $17.05 and its 200 day moving average is $17.83.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. UMH Properties had a net margin of 11.51% and a return on equity of 5.14%. The company had revenue of $61.23 million for the quarter, compared to analyst estimates of $62.82 million. As a group, analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Thursday, May 15th were issued a dividend of $0.225 per share. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.90 dividend on an annualized basis and a yield of 5.43%. UMH Properties's dividend payout ratio (DPR) is presently 750.00%.

UMH Properties 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.