42,121 Shares in UMH Properties, Inc. (NYSE:UMH) Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has acquired 42,121 shares of UMH Properties, worth approximately $788,000, during the first quarter, increasing their stake to 0.05% of the company.
• Several hedge funds have adjusted their positions in UMH Properties, with institutional investors now owning 75.40% of the company's stock.
• UMH Properties announced a quarterly dividend of $0.225 per share, representing a dividend yield of 5.5%, with the ex-dividend date set for August 15th.

Allianz Asset Management GmbH bought a new position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 42,121 shares of the real estate investment trust's stock, valued at approximately $788,000. Allianz Asset Management GmbH owned about 0.05% of UMH Properties as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UMH. The Manufacturers Life Insurance Company raised its stake in shares of UMH Properties by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust's stock worth $883,000 after buying an additional 918 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in UMH Properties by 5.0% in the first quarter. Nisa Investment Advisors LLC now owns 22,380 shares of the real estate investment trust's stock valued at $419,000 after acquiring an additional 1,065 shares during the period. Corebridge Financial Inc. boosted its position in shares of UMH Properties by 3.7% during the 4th quarter. Corebridge Financial Inc. now owns 35,946 shares of the real estate investment trust's stock worth $679,000 after purchasing an additional 1,286 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in shares of UMH Properties during the 4th quarter worth $26,000. Finally, Principal Financial Group Inc. grew its stake in shares of UMH Properties by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust's stock worth $726,000 after purchasing an additional 1,362 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UMH. Maxim Group dropped their target price on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a report on Monday, May 5th. B. Riley reiterated a "buy" rating on shares of UMH Properties in a report on Tuesday, May 13th. Wedbush raised shares of UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen lowered UMH Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th.

UMH Properties Price Performance

Shares of NYSE:UMH traded up $0.15 during trading on Tuesday, reaching $16.55. The company had a trading volume of 89,986 shares, compared to its average volume of 396,804. The firm's fifty day moving average is $16.86 and its 200 day moving average is $17.46. UMH Properties, Inc. has a twelve month low of $15.74 and a twelve month high of $20.64. The firm has a market capitalization of $1.39 billion, a PE ratio of 137.93, a price-to-earnings-growth ratio of 2.71 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 6.98 and a current ratio of 6.98.

UMH Properties Dividend Announcement

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 dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 5.4%. The ex-dividend date is Friday, August 15th. UMH Properties's payout ratio is currently 750.00%.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 25,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the chief executive officer owned 1,140,265 shares in the company, valued at $19,236,270.55. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director William Edward Mitchell sold 70,852 shares of UMH Properties 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 in the company, valued at $3,705,344.40. This represents a 24.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 160,826 shares of company stock worth $2,745,314. 8.77% of the stock is currently owned by corporate insiders.

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.