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

Cherry Creek Investment Advisors Inc. acquired a new stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 36,083 shares of the real estate investment trust's stock, valued at approximately $675,000.

Several other large investors have also made changes to their positions in UMH. Advisor Resource Council acquired a new stake in UMH Properties during the first quarter worth about $578,000. LDR Capital Management LLC boosted its position in UMH Properties by 3.8% in the 1st quarter. LDR Capital Management LLC now owns 136,477 shares of the real estate investment trust's stock worth $2,552,000 after purchasing an additional 5,011 shares in the last quarter. Ulland Investment Advisors LLC grew its stake in shares of UMH Properties by 130.4% during the 1st quarter. Ulland Investment Advisors LLC now owns 9,020 shares of the real estate investment trust's stock worth $169,000 after purchasing an additional 5,105 shares during the period. Vert Asset Management LLC increased its holdings in shares of UMH Properties by 19.3% during the 1st quarter. Vert Asset Management LLC now owns 37,318 shares of the real estate investment trust's stock valued at $698,000 after purchasing an additional 6,050 shares in the last quarter. Finally, Summit Global Investments increased its holdings in shares of UMH Properties by 26.2% during the 1st quarter. Summit Global Investments now owns 17,255 shares of the real estate investment trust's stock valued at $323,000 after purchasing an additional 3,578 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently 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. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Finally, Maxim Group dropped their target price on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $21.00.

Insider Buying and Selling

In related news, Director William Edward Mitchell sold 39,974 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $16.94, for a total transaction of $677,159.56. Following the completion of the sale, the director now directly owns 115,627 shares of the company's stock, valued at approximately $1,958,721.38. This trade represents a 25.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Samuel A. Landy sold 25,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the completion of the sale, the chief executive officer now owns 1,140,265 shares in the company, valued at approximately $19,236,270.55. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,826 shares of company stock worth $2,745,314. 8.77% of the stock is owned by insiders.

UMH Properties Price Performance

UMH Properties stock traded up $0.11 during midday trading on Monday, reaching $16.85. The company had a trading volume of 314,343 shares, compared to its average volume of 435,231. The company has a debt-to-equity ratio of 1.02, a current ratio of 6.98 and a quick ratio of 6.98. UMH Properties, Inc. has a 12-month low of $15.34 and a 12-month high of $20.64. The company has a market capitalization of $1.42 billion, a P/E ratio of 140.43, a P/E/G ratio of 2.78 and a beta of 1.12. The firm's fifty day simple moving average is $17.06 and its 200-day simple moving average is $17.85.

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 EPS for the quarter, meeting the consensus estimate of $0.23. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. The firm had revenue of $61.23 million during the quarter, compared to the consensus estimate of $62.82 million. As a group, equities analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were paid a $0.225 dividend. This is an increase from UMH Properties's previous quarterly dividend of $0.22. This represents a $0.90 annualized dividend and a dividend yield of 5.34%. The ex-dividend date was Thursday, May 15th. UMH Properties's dividend payout ratio (DPR) is currently 750.00%.

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.