Russell Investments Group Ltd. Buys 153,470 Shares of UMH Properties, Inc. $UMH

Key Points

• Russell Investments Group Ltd. significantly increased its stake in UMH Properties by 71.9%, acquiring an additional 153,470 shares, bringing its total holdings to 366,810 shares valued at approximately $6.86 million.
• UMH Properties recently announced a quarterly dividend of $0.225 per share, representing a 5.8% dividend yield and maintaining a high dividend payout ratio of 642.86%.
• The company's stock recently experienced a 1.3% decline in trading, with earnings results indicating a quarterly loss that fell short of analysts' expectations.

Russell Investments Group Ltd. grew its stake in UMH Properties, Inc. (NYSE:UMH - Free Report) by 71.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 366,810 shares of the real estate investment trust's stock after purchasing an additional 153,470 shares during the quarter. Russell Investments Group Ltd. owned about 0.44% of UMH Properties worth $6,859,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Resona Asset Management Co. Ltd. raised its holdings in UMH Properties by 9.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 31,870 shares of the real estate investment trust's stock worth $596,000 after purchasing an additional 2,779 shares in the last quarter. Stone House Investment Management LLC bought a new position in UMH Properties in the 1st quarter worth $34,000. Nuveen LLC bought a new position in UMH Properties in the 1st quarter worth $19,209,000. Deutsche Bank AG raised its holdings in UMH Properties by 0.8% in the 1st quarter. Deutsche Bank AG now owns 82,605 shares of the real estate investment trust's stock worth $1,545,000 after purchasing an additional 682 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in UMH Properties in the 1st quarter worth $407,000. 75.40% of the stock is currently owned by institutional investors.

Insider Transactions at UMH Properties

In other news, Director Angela D. Pruitt sold 1,600 shares of UMH Properties stock in a transaction that occurred on 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 directly owned 9,905 shares in the company, valued at $159,074.30. The trade was a 13.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Samuel A. Landy sold 45,700 shares of UMH Properties stock in a transaction that occurred 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 sale, the chief executive officer owned 1,101,283 shares of the company's stock, valued at $18,061,041.20. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,149 shares of company stock worth $2,434,782 over the last three months. 8.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Wedbush upgraded shares of UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered shares of UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Maxim Group decreased their price target on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a research note on Monday, May 5th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

UMH Properties Stock Down 1.3%

NYSE:UMH traded down $0.21 on Tuesday, reaching $15.59. 645,113 shares of the stock traded hands, compared to its average volume of 502,728. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 111.32, a PEG ratio of 2.68 and a beta of 1.13. The company has a current ratio of 8.56, a quick ratio of 8.56 and a debt-to-equity ratio of 1.08. UMH Properties, Inc. has a 12 month low of $15.46 and a 12 month high of $20.64. The company's fifty day simple moving average is $16.62 and its 200 day simple moving average is $17.23.

UMH Properties (NYSE:UMH - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $66.64 million for the quarter, compared to analysts' expectations of $66.07 million. Equities analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $0.225 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.8%. UMH Properties's payout ratio is currently 642.86%.

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.