Allianz Asset Management GmbH Buys Shares of 42,121 UMH Properties, Inc. (NYSE:UMH)

Allianz Asset Management GmbH purchased a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 42,121 shares of the real estate investment trust's stock, valued at approximately $788,000. Allianz Asset Management GmbH owned 0.05% of UMH Properties at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in UMH. Vanguard Group Inc. increased its stake in 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 during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of 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 acquiring an additional 57,547 shares during the period. Capital Research Global Investors raised its stake in shares of UMH Properties by 124.5% during the 4th quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock worth $76,121,000 after buying an additional 2,236,080 shares in the last quarter. Geode Capital Management LLC raised its position in UMH Properties by 7.9% in the fourth quarter. Geode Capital Management LLC now owns 1,838,555 shares of the real estate investment trust's stock worth $34,719,000 after acquiring an additional 134,761 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of UMH Properties during the 4th quarter worth $23,396,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the sale, the director owned 215,427 shares of the company's stock, valued at $3,705,344.40. This trade represents a 24.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the chief executive officer directly owned 1,140,265 shares of the company's stock, valued at $19,236,270.55. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 160,826 shares of company stock valued at $2,745,314. Insiders own 8.77% of the company's stock.

Wall Street Analyst Weigh In

UMH has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Wedbush upgraded shares of UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Maxim Group lowered their price target on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, B. Riley reaffirmed a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th.

UMH Properties Stock Performance

NYSE:UMH opened at $16.25 on Friday. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.37 billion, a P/E ratio of 135.43, a price-to-earnings-growth ratio of 2.72 and a beta of 1.13. The firm has a 50-day moving average price of $16.86 and a two-hundred day moving average price of $17.48. UMH Properties, Inc. has a twelve month low of $15.74 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, hitting 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, research analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties's payout ratio is 750.00%.

About UMH Properties

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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