Nuveen LLC Purchases New Shares in UMH Properties, Inc. $UMH

Key Points

• Nuveen LLC has acquired a new stake in UMH Properties, Inc., purchasing 1,027,230 shares valued at approximately $19.2 million, which represents ownership of 1.22% of the company.
• UMH Properties has recently undergone analyst ratings adjustments, including a downgrade from Maxim Group and a mix of upgrades, setting the average target price at $20.25.
• The company announced a quarterly dividend of $0.225 per share with a yield of 5.7%, while insiders have recently sold a total of 146,549 shares worth over $2.4 million.

Nuveen LLC purchased a new stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,027,230 shares of the real estate investment trust's stock, valued at approximately $19,209,000. Nuveen LLC owned 1.22% of UMH Properties as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. raised its stake in UMH Properties by 2.6% in the first quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust's stock worth $491,000 after buying an additional 671 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of UMH Properties by 0.8% during the first quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust's stock valued at $1,545,000 after buying an additional 682 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of UMH Properties by 2.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 46,783 shares of the real estate investment trust's stock valued at $883,000 after buying an additional 918 shares during the last quarter. Nisa Investment Advisors LLC grew its position in UMH Properties by 5.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 22,380 shares of the real estate investment trust's stock worth $419,000 after purchasing an additional 1,065 shares during the period. Finally, GF Fund Management CO. LTD. bought a new stake in UMH Properties in the 4th quarter worth approximately $26,000. 75.40% of the stock is owned by institutional investors.

UMH Properties Trading Up 2.2%

UMH stock traded up $0.3450 during mid-day trading on Friday, reaching $16.0150. The company had a trading volume of 979,964 shares, compared to its average volume of 464,629. 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 company has a market capitalization of $1.36 billion, a PE ratio of 114.39, a price-to-earnings-growth ratio of 2.66 and a beta of 1.13. The firm has a 50 day moving average of $16.66 and a 200 day moving average of $17.28. UMH Properties, Inc. has a 12 month low of $15.46 and a 12 month high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $66.07 million. On average, equities analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 yield of 5.6%. UMH Properties's dividend payout ratio is presently 642.86%.

Insider Buying and Selling

In related news, Director William Edward Mitchell sold 75,849 shares of the 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 completion of the sale, the director owned 41,368 shares of the company's stock, valued at $675,125.76. This represents a 64.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Samuel A. Landy sold 45,700 shares of the firm's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $16.40, for a total transaction of $749,480.00. Following the completion of the transaction, the chief executive officer directly owned 1,101,283 shares of the company's stock, valued at approximately $18,061,041.20. This represents a 3.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,549 shares of company stock valued at $2,409,086 in the last three months. 8.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

UMH has been the topic of several analyst reports. Wedbush upgraded shares of UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut shares of UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. 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, B. Riley reiterated a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, UMH Properties presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.25.

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.