McIlrath & Eck LLC Has $4.98 Million Stock Position in UMH Properties, Inc. $UMH

Key Points

• McIlrath & Eck LLC increased its stake in UMH Properties by 161.3%, acquiring an additional 164,465 shares, bringing their total holdings to 266,398 shares valued at approximately $4.98 million.
• Insider activity included the sale of 75,849 shares by Director William Edward Mitchell, reducing his stake by 64.71% to 41,368 shares valued at about $675,125.
• UMH Properties recently announced a quarterly dividend of $0.225 per share, offering an annualized yield of 5.9%, with a high dividend payout ratio of 642.86%.

McIlrath & Eck LLC lifted its position in UMH Properties, Inc. (NYSE:UMH - Free Report) by 161.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 266,398 shares of the real estate investment trust's stock after purchasing an additional 164,465 shares during the quarter. McIlrath & Eck LLC owned 0.32% of UMH Properties worth $4,982,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of UMH. GF Fund Management CO. LTD. acquired a new position in UMH Properties in the fourth quarter worth $26,000. KBC Group NV acquired a new stake in shares of UMH Properties in the first quarter valued at $32,000. Stone House Investment Management LLC bought a new position in shares of UMH Properties in the first quarter valued at about $34,000. Summit Securities Group LLC acquired a new position in UMH Properties during the 1st quarter worth about $35,000. Finally, Cloud Capital Management LLC bought a new stake in UMH Properties during the 1st quarter worth about $37,000. 75.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UMH shares. Wall Street Zen lowered shares of UMH Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Wedbush raised UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, UMH Properties currently has an average rating of "Moderate Buy" and an average target price of $20.25.

Insider Transactions at UMH Properties

In other news, Director Angela D. Pruitt sold 1,600 shares of the firm's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $16.06, for a total transaction of $25,696.00. Following the sale, the director owned 9,905 shares of the company's stock, valued at $159,074.30. This trade represents a 13.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 value of $1,237,855.68. Following the completion of the sale, the director directly owned 41,368 shares in the company, valued at approximately $675,125.76. This represents a 64.71% decrease in their position. 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 90 days. 8.77% of the stock is owned by company insiders.

UMH Properties Trading Down 0.4%

UMH traded down $0.06 during midday trading on Friday, reaching $15.20. 321,298 shares of the company were exchanged, compared to its average volume of 432,230. The stock has a market capitalization of $1.29 billion, a P/E ratio of 108.56, a PEG ratio of 2.55 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. The stock's 50-day simple moving average is $16.24 and its 200 day simple moving average is $17.02. UMH Properties, Inc. has a one year low of $14.76 and a one year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly 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 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%. As a group, analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.9%. UMH Properties's dividend payout ratio (DPR) is currently 642.86%.

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.