McIlrath & Eck LLC Has $4.98 Million Stake 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 holdings in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 161.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 266,398 shares of the real estate investment trust's stock after acquiring an additional 164,465 shares during the period. McIlrath & Eck LLC owned approximately 0.32% of UMH Properties worth $4,982,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Aberdeen Group plc lifted its holdings in shares of UMH Properties by 3.6% during the 1st quarter. Aberdeen Group plc now owns 19,132 shares of the real estate investment trust's stock worth $358,000 after acquiring an additional 668 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of UMH Properties by 2.6% during the 1st quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust's stock worth $491,000 after acquiring an additional 671 shares during the period. Deutsche Bank AG lifted its holdings in shares of UMH Properties by 0.8% during the 1st quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust's stock worth $1,545,000 after acquiring an additional 682 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in UMH Properties by 2.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust's stock valued at $883,000 after purchasing an additional 918 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in UMH Properties by 5.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 22,380 shares of the real estate investment trust's stock valued at $419,000 after purchasing an additional 1,065 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, Director Angela D. Pruitt sold 1,600 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $16.06, for a total value of $25,696.00. Following the completion of the sale, the director owned 9,905 shares in the company, valued at approximately $159,074.30. This trade represents a 13.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Samuel A. Landy sold 10,000 shares of the firm's stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $15.25, for a total transaction of $152,500.00. Following the completion of the sale, the chief executive officer owned 1,091,283 shares of the company's stock, valued at $16,642,065.75. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 133,149 shares of company stock worth $2,165,532. 8.77% of the stock is currently owned by corporate insiders.

UMH Properties Price Performance

UMH traded down $0.06 during midday trading on Friday, hitting $15.20. The company had a trading volume of 321,298 shares, compared to its average volume of 631,822. 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 company has a market capitalization of $1.29 billion, a PE ratio of 108.56, a P/E/G ratio of 2.57 and a beta of 1.07. UMH Properties, Inc. has a twelve month low of $14.76 and a twelve month high of $20.64. The firm's 50-day simple moving average is $16.20 and its 200-day simple moving average is $16.98.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $66.64 million during the quarter, compared to analyst estimates of $66.07 million. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. Equities research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal 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 $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.9%. The ex-dividend date is Friday, August 15th. UMH Properties's dividend payout ratio (DPR) is presently 642.86%.

Wall Street Analyst Weigh In

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

About UMH Properties

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.