Goldman Sachs Group Inc. Cuts Position in UMH Properties, Inc. $UMH

Key Points

• Goldman Sachs Group Inc. has reduced its stake in **UMH Properties, Inc.** by 43.3%, now owning 271,064 shares after selling 206,818 shares during the first quarter.
• Several large investors have adjusted their positions in UMH, with Bank of America and Deutsche Bank among those increasing their holdings in the real estate investment trust.
• Despite a recent earnings miss, UMH Properties declared a quarterly dividend of $0.225 per share, resulting in an annualized yield of **6.0%**.

Goldman Sachs Group Inc. lessened its stake in UMH Properties, Inc. (NYSE:UMH - Free Report) by 43.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 271,064 shares of the real estate investment trust's stock after selling 206,818 shares during the quarter. Goldman Sachs Group Inc. owned 0.32% of UMH Properties worth $5,069,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in UMH. Bank of America Corp DE increased its holdings in shares of UMH Properties by 0.7% in the 4th quarter. Bank of America Corp DE now owns 1,144,077 shares of the real estate investment trust's stock valued at $21,600,000 after purchasing an additional 7,831 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of UMH Properties by 28.9% in the 4th quarter. Deutsche Bank AG now owns 81,923 shares of the real estate investment trust's stock valued at $1,547,000 after purchasing an additional 18,375 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of UMH Properties by 17.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,105 shares of the real estate investment trust's stock valued at $776,000 after purchasing an additional 6,053 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of UMH Properties by 66.2% in the 4th quarter. ProShare Advisors LLC now owns 20,361 shares of the real estate investment trust's stock valued at $384,000 after purchasing an additional 8,113 shares in the last quarter. Finally, Snowden Capital Advisors LLC increased its holdings in shares of UMH Properties by 7.2% in the 4th quarter. Snowden Capital Advisors LLC now owns 31,532 shares of the real estate investment trust's stock valued at $595,000 after purchasing an additional 2,108 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UMH. 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 report on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $20.25.

UMH Properties Price Performance

UMH opened at $15.11 on Wednesday. The company's 50 day simple moving average is $16.12 and its 200 day simple moving average is $16.95. 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 1 year low of $14.76 and a 1 year high of $20.42. The stock has a market capitalization of $1.28 billion, a PE ratio of 107.93, a P/E/G ratio of 2.56 and a beta of 1.07.

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

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend was Friday, August 15th. UMH Properties's payout ratio is 642.86%.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 45,700 shares of UMH Properties stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $16.40, for a total transaction of $749,480.00. Following the transaction, the chief executive officer directly owned 1,101,283 shares of the company's stock, valued at $18,061,041.20. The trade was a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William Edward Mitchell sold 75,849 shares of UMH Properties stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the transaction, the director directly owned 41,368 shares in the company, valued at approximately $675,125.76. This trade represents a 64.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,149 shares of company stock valued at $2,165,532 over the last ninety days. Corporate insiders own 8.77% of the company's stock.

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.

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