UMH Properties, Inc. $UMH Position Lessened by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in UMH Properties by 16.9%, selling 208,808 shares and retaining approximately 1,030,375 shares, valued at $19.3 million.
• UMH Properties announced a quarterly dividend of $0.225 per share, yielding 5.7%, to be paid on September 15th to investors of record.
• Analysts have mixed ratings for UMH Properties, with recent changes including a downgrade to "sell" by Wall Street Zen, while B. Riley maintains a "buy" rating.

Raymond James Financial Inc. cut its position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,030,375 shares of the real estate investment trust's stock after selling 208,808 shares during the quarter. Raymond James Financial Inc. owned 1.23% of UMH Properties worth $19,268,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of UMH. First Trust Advisors LP increased its position in shares of UMH Properties by 87.9% during the 4th quarter. First Trust Advisors LP now owns 136,365 shares of the real estate investment trust's stock valued at $2,575,000 after purchasing an additional 63,776 shares during the period. Dimensional Fund Advisors LP increased its position in shares of UMH Properties by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,064,590 shares of the real estate investment trust's stock valued at $20,099,000 after purchasing an additional 52,278 shares during the period. MetLife Investment Management LLC increased its position in shares of UMH Properties by 17.0% during the 4th quarter. MetLife Investment Management LLC now owns 45,584 shares of the real estate investment trust's stock valued at $861,000 after purchasing an additional 6,610 shares during the period. Tower Research Capital LLC TRC increased its position in shares of UMH Properties by 374.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,568 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 2,027 shares during the period. Finally, Stifel Financial Corp lifted its position in shares of UMH Properties by 3.5% during the 4th quarter. Stifel Financial Corp now owns 173,584 shares of the real estate investment trust's stock valued at $3,277,000 after acquiring an additional 5,795 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

UMH Properties Stock Down 3.4%

Shares of UMH Properties stock traded down $0.54 during midday trading on Tuesday, hitting $15.16. The company's stock had a trading volume of 753,855 shares, compared to its average volume of 533,955. The firm has a market capitalization of $1.29 billion, a P/E ratio of 108.25, a PEG ratio of 2.66 and a beta of 1.07. The stock has a 50-day simple moving average of $16.49 and a 200-day simple moving average of $17.15. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08. UMH Properties, Inc. has a 1-year low of $15.09 and a 1-year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last issued its 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). The business had revenue of $66.64 million during 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, sell-side analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

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

Insider Transactions at UMH Properties

In other news, 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 value of $749,480.00. Following the completion of the sale, the chief executive officer owned 1,101,283 shares of the company's stock, valued at $18,061,041.20. This trade represents a 3.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director William Edward Mitchell sold 75,849 shares of the firm's stock in a transaction on 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 completion of the sale, the director directly owned 41,368 shares of the company's stock, valued at approximately $675,125.76. This trade represents a 64.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,149 shares of company stock valued at $2,434,782 over the last quarter. Company insiders own 8.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UMH shares. B. Riley reissued a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Maxim Group reduced their price objective on UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a research note on Monday, May 5th. Wall Street Zen lowered UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Wedbush raised UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, UMH Properties currently has a consensus rating of "Moderate Buy" and a consensus target price 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.