Copeland Capital Management LLC Sells 191,716 Shares of UMH Properties, Inc. $UMH

Key Points

• Copeland Capital Management LLC sold 191,716 shares of UMH Properties, reducing its ownership to 2,552,058 shares, representing a decrease of 7.0% during the second quarter.
• Insiders have been active, with Director Michael P. Landy purchasing 10,000 shares while CEO Samuel A. Landy sold 22,100 shares, indicating a mixed sentiment among leadership.
• UMH Properties announced a quarterly dividend of $0.225 per share, which will be paid on December 15th, yielding approximately 6.2% annually.

Copeland Capital Management LLC lessened its holdings in UMH Properties, Inc. (NYSE:UMH - Free Report) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,552,058 shares of the real estate investment trust's stock after selling 191,716 shares during the quarter. Copeland Capital Management LLC owned 3.04% of UMH Properties worth $42,849,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV acquired a new stake in UMH Properties in the 1st quarter worth about $32,000. Stone House Investment Management LLC bought a new position in shares of UMH Properties during the first quarter worth approximately $34,000. Summit Securities Group LLC acquired a new stake in shares of UMH Properties in the first quarter valued at approximately $35,000. Cloud Capital Management LLC bought a new stake in shares of UMH Properties in the first quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC grew its position in UMH Properties by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 4,000 shares of the real estate investment trust's stock worth $75,000 after buying an additional 2,000 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at UMH Properties

In related news, Director Michael P. Landy bought 10,000 shares of the firm's stock in a transaction on Monday, September 29th. The shares were purchased at an average price 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 $5,235,271.92. This represents a 2.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Samuel A. Landy sold 22,100 shares of the stock in a transaction on Friday, September 26th. The shares were sold at an average price of $14.76, for a total value of $326,196.00. Following the completion of the transaction, the chief executive officer owned 1,074,568 shares of the company's stock, valued at $15,860,623.68. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 155,249 shares of company stock worth $2,491,728. Corporate insiders own 8.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UMH. Cantor Fitzgerald started coverage on UMH Properties in a report on Wednesday. They issued a "neutral" rating and a $15.00 price objective for the company. Wall Street Zen cut UMH Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Wedbush raised shares of UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, UMH Properties presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

UMH Properties Price Performance

UMH Properties stock opened at $14.57 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. UMH Properties, Inc. has a 52 week low of $14.37 and a 52 week high of $20.42. The stock has a market capitalization of $1.24 billion, a P/E ratio of 104.05, a price-to-earnings-growth ratio of 2.57 and a beta of 1.05. The stock has a fifty day moving average of $15.60 and a 200-day moving average of $16.67.

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 the consensus estimate of $0.25 by ($0.02). The business had revenue of $66.64 million for the quarter, compared to analyst estimates of $66.07 million. UMH Properties had a return on equity of 5.19% and a net margin of 12.18%. On average, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 annualized dividend and a yield of 6.2%. UMH Properties's dividend payout ratio is presently 642.86%.

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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