Connors Investor Services Inc. Acquires 32,962 Shares of UMH Properties, Inc. $UMH

Key Points

• Connors Investor Services Inc. increased its stake in UMH Properties, Inc. by 26.9%, owning 155,395 shares worth approximately $2.6 million after acquiring 32,962 additional shares in Q2.
• UMH Properties announced a quarterly dividend of $0.225 per share, reflecting a 6.1% yield, with shareholders recorded on November 17th.
• Analysts hold a mixed view on UMH Properties, with a consensus rating of "Hold" and a target price of $18.50, despite recent earnings falling short of expectations.

Connors Investor Services Inc. raised its holdings in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 26.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,395 shares of the real estate investment trust's stock after purchasing an additional 32,962 shares during the quarter. Connors Investor Services Inc. owned 0.18% of UMH Properties worth $2,609,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Aberdeen Group plc lifted its position in shares of UMH Properties by 3.6% during the first quarter. Aberdeen Group plc now owns 19,132 shares of the real estate investment trust's stock worth $358,000 after purchasing an additional 668 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of UMH Properties by 2.6% in the first quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust's stock valued at $491,000 after acquiring an additional 671 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of UMH Properties by 0.8% in the first quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust's stock valued at $1,545,000 after acquiring an additional 682 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of UMH Properties by 4.7% in the first quarter. Inspire Investing LLC now owns 22,379 shares of the real estate investment trust's stock valued at $418,000 after acquiring an additional 1,007 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of 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 in the last quarter. 75.40% of the stock is currently owned by institutional investors.

UMH Properties Price Performance

Shares of NYSE UMH opened at $14.75 on Thursday. The business's 50 day moving average price is $15.01 and its 200 day moving average price is $16.27. The firm has a market cap of $1.25 billion, a P/E ratio of 105.32, a P/E/G ratio of 2.56 and a beta of 1.05. UMH Properties, Inc. has a 52 week low of $13.95 and a 52 week high of $20.42. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08.

UMH Properties (NYSE:UMH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). The firm had revenue of $66.64 million during the quarter, compared to analysts' expectations of $66.07 million. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. On average, sell-side analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 17th. UMH Properties's dividend payout ratio is currently 642.86%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Cantor Fitzgerald assumed coverage on UMH Properties in a report on Wednesday, October 1st. They issued a "neutral" rating and a $15.00 price objective for the company. Weiss Ratings restated a "hold (c)" rating on shares of UMH Properties in a report on Wednesday, October 8th. Wedbush upgraded UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $18.50.

Insider Buying and Selling

In other news, CEO Samuel A. Landy sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $14.19, for a total transaction of $283,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,054,568 shares of the company's stock, valued at $14,964,319.92. This represents a 1.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael P. Landy bought 10,000 shares of UMH Properties stock in a transaction dated Monday, September 29th. The shares were acquired at an average cost of $14.46 per share, with a total value of $144,600.00. Following the completion of the purchase, the director owned 362,052 shares in the company, valued at approximately $5,235,271.92. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 10,743 shares of company stock worth $155,097 and have sold 175,249 shares worth $2,775,528. Corporate insiders own 8.77% of the company's stock.

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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