Teacher Retirement System of Texas Cuts Stake in UMH Properties, Inc. (NYSE:UMH)

Teacher Retirement System of Texas reduced its position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 50.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,560 shares of the real estate investment trust's stock after selling 100,200 shares during the period. Teacher Retirement System of Texas owned about 0.12% of UMH Properties worth $1,843,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV purchased a new position in UMH Properties in the first quarter valued at $32,000. Golden State Wealth Management LLC raised its stake in UMH Properties by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 4,000 shares of the real estate investment trust's stock valued at $75,000 after buying an additional 2,000 shares in the last quarter. Asset Management One Co. Ltd. raised its stake in UMH Properties by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 108,318 shares of the real estate investment trust's stock valued at $2,026,000 after buying an additional 7,150 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in UMH Properties by 19.2% in the first quarter. Oppenheimer & Co. Inc. now owns 35,962 shares of the real estate investment trust's stock valued at $672,000 after buying an additional 5,798 shares in the last quarter. Finally, Cherry Creek Investment Advisors Inc. acquired a new stake in UMH Properties in the first quarter valued at $675,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

UMH Properties Price Performance

Shares of UMH traded down $0.02 on Friday, reaching $17.07. The stock had a trading volume of 234,699 shares, compared to its average volume of 440,463. The firm has a market capitalization of $1.44 billion, a PE ratio of 142.26, a PEG ratio of 2.86 and a beta of 1.10. The company has a quick ratio of 6.98, a current ratio of 6.98 and a debt-to-equity ratio of 1.02. The firm has a 50-day moving average of $16.94 and a 200 day moving average of $17.66. UMH Properties, Inc. has a twelve month low of $15.74 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 EPS for the quarter, meeting analysts' consensus estimates of $0.23. The firm had revenue of $61.23 million for the quarter, compared to analysts' expectations of $62.82 million. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. Sell-side analysts expect that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.27%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties's dividend payout ratio is presently 750.00%.

Insiders Place Their Bets

In other UMH Properties news, Director William Edward Mitchell sold 70,852 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the transaction, the director owned 215,427 shares of the company's stock, valued at $3,705,344.40. This represents a 24.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Samuel A. Landy sold 25,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the chief executive officer owned 1,140,265 shares in the company, valued at approximately $19,236,270.55. This trade represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 160,826 shares of company stock worth $2,745,314. Corporate insiders own 8.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on UMH. Wedbush upgraded UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Wall Street Zen upgraded UMH Properties from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Maxim Group cut their target price on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $21.00.

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.