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Jennison Associates LLC Trims Holdings in UMH Properties, Inc. (NYSE:UMH)

UMH Properties logo with Finance background

Jennison Associates LLC lessened its holdings in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 5.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,385,644 shares of the real estate investment trust's stock after selling 76,941 shares during the quarter. Jennison Associates LLC owned 1.68% of UMH Properties worth $25,912,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in UMH Properties during the fourth quarter worth about $26,000. Farther Finance Advisors LLC boosted its position in shares of UMH Properties by 1,011.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 1,456 shares during the period. KBC Group NV bought a new position in shares of UMH Properties in the first quarter valued at approximately $32,000. Sterling Capital Management LLC boosted its position in shares of UMH Properties by 861.1% in the fourth quarter. Sterling Capital Management LLC now owns 1,951 shares of the real estate investment trust's stock valued at $37,000 after acquiring an additional 1,748 shares during the period. Finally, Cloud Capital Management LLC bought a new position in shares of UMH Properties in the first quarter valued at approximately $37,000. Institutional investors own 75.40% of the company's stock.

Insiders Place Their Bets

In related news, CEO Samuel A. Landy sold 25,000 shares of UMH Properties 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. This trade represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William Edward Mitchell sold 70,852 shares of UMH Properties stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the transaction, the director directly owned 215,427 shares of the company's stock, valued at approximately $3,705,344.40. This trade represents a 24.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 160,826 shares of company stock worth $2,745,314. Insiders own 8.77% of the company's stock.

Wall Street Analyst Weigh In

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

Get Our Latest Analysis on UMH

UMH Properties Price Performance

Shares of UMH stock traded down $0.10 during trading hours on Wednesday, hitting $17.07. 42,758 shares of the company's stock were exchanged, compared to its average volume of 433,619. The company has a market capitalization of $1.43 billion, a PE ratio of 142.26, a PEG ratio of 2.83 and a beta of 1.10. UMH Properties, Inc. has a 12-month low of $15.74 and a 12-month high of $20.64. The business's 50 day simple moving average is $16.90 and its 200-day simple moving average is $17.55. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 1.02.

UMH Properties (NYSE:UMH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $61.23 million for the quarter, compared to analyst estimates of $62.82 million. UMH Properties had a net margin of 11.51% and a return on equity of 5.14%. On average, equities research analysts anticipate 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, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Friday, August 15th. UMH Properties's payout ratio is currently 750.00%.

UMH Properties Profile

(Free Report)

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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Institutional Ownership by Quarter for UMH Properties (NYSE:UMH)

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