Northern Trust Corp Boosts Stock Position in UMH Properties, Inc. $UMH

Key Points

• Northern Trust Corp increased its stake in UMH Properties, acquiring an additional 49,040 shares and bringing its total ownership to approximately 1.46%, valued at $23 million.
• UMH Properties declared a quarterly dividend of $0.225 per share, with a dividend yield of 5.7%, scheduled to be paid on September 15.
• Analysts currently have a "Moderate Buy" rating for UMH Properties, with an average price target of $20.25. However, some have recently downgraded their ratings.

Northern Trust Corp grew its stake in UMH Properties, Inc. (NYSE:UMH - Free Report) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,229,968 shares of the real estate investment trust's stock after acquiring an additional 49,040 shares during the quarter. Northern Trust Corp owned about 1.46% of UMH Properties worth $23,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in UMH Properties during the fourth quarter worth about $26,000. KBC Group NV acquired a new position in UMH Properties in the 1st quarter valued at about $32,000. Stone House Investment Management LLC purchased a new stake in shares of UMH Properties in the 1st quarter valued at approximately $34,000. Summit Securities Group LLC acquired a new stake in shares of UMH Properties during the 1st quarter worth approximately $35,000. Finally, Cloud Capital Management LLC acquired a new stake in shares of UMH Properties during the 1st quarter worth approximately $37,000. Institutional investors and hedge funds own 75.40% of the company's stock.

Insider Buying and Selling

In other UMH Properties news, Director William Edward Mitchell sold 75,849 shares of the stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $16.32, for a total value of $1,237,855.68. Following the sale, the director owned 41,368 shares of the company's stock, valued at $675,125.76. This trade represents a 64.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samuel A. Landy sold 45,700 shares of UMH Properties stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $16.40, for a total value of $749,480.00. Following the completion of the transaction, the chief executive officer 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 position. The disclosure for this sale can be found here. Insiders sold 158,149 shares of company stock valued at $2,587,282 in the last three months. 8.77% of the stock is owned by corporate insiders.

UMH Properties Stock Down 0.7%

Shares of NYSE UMH traded down $0.11 during midday trading on Thursday, hitting $15.02. The company's stock had a trading volume of 357,263 shares, compared to its average volume of 421,011. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 107.25, a price-to-earnings-growth ratio of 2.66 and a beta of 1.07. The business's fifty day simple moving average is $16.46 and its two-hundred day simple moving average is $17.13. UMH Properties, Inc. has a 1 year low of $14.95 and a 1 year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly 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). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The business had revenue of $66.64 million during the quarter, compared to analysts' expectations of $66.07 million. On average, equities analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties's payout ratio is presently 642.86%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wedbush upgraded UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. B. Riley reaffirmed a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

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.