Invesco Ltd. Sells 98,262 Shares of UMH Properties, Inc. $UMH

Key Points

• Invesco Ltd. reduced its holdings in UMH Properties, Inc. by 35.2%, now owning approximately 0.21% of the company, worth $3.38 million after selling 98,262 shares.
• The company recently reported a quarterly earnings per share (EPS) of $0.23, missing analyst expectations of $0.25 but generating revenue of $66.64 million, exceeding estimates.
• UMH Properties announced a quarterly dividend of $0.225 per share, representing a dividend yield of 5.7% and a payout ratio of 642.86%.

Invesco Ltd. trimmed its holdings in UMH Properties, Inc. (NYSE:UMH - Free Report) by 35.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 180,719 shares of the real estate investment trust's stock after selling 98,262 shares during the period. Invesco Ltd. owned 0.21% of UMH Properties worth $3,379,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Deutsche Bank AG lifted its holdings in shares of 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 valued at $1,545,000 after buying an additional 682 shares during the period. XTX Topco Ltd acquired a new stake in shares of UMH Properties in the 1st quarter worth approximately $407,000. Avantax Advisory Services Inc. raised its holdings in UMH Properties by 2.6% during the first quarter. Avantax Advisory Services Inc. now owns 26,263 shares of the real estate investment trust's stock worth $491,000 after purchasing an additional 671 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of UMH Properties during the 1st quarter worth $788,000. Finally, Bailard Inc. boosted its position in shares of UMH Properties by 11.1% in the 1st quarter. Bailard Inc. now owns 17,000 shares of the real estate investment trust's stock worth $318,000 after buying an additional 1,700 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company's stock.

UMH Properties Stock Down 0.4%

UMH Properties stock traded down $0.07 during trading on Wednesday, reaching $15.10. 261,734 shares of the company's stock were exchanged, compared to its average volume of 418,380. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 107.75, a PEG ratio of 2.66 and a beta of 1.07. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. UMH Properties, Inc. has a 52-week low of $15.01 and a 52-week high of $20.64. The company's 50-day moving average is $16.49 and its two-hundred day moving average is $17.15.

UMH Properties (NYSE:UMH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share 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 for the quarter, compared to analyst estimates of $66.07 million. On average, analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

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 issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Friday, August 15th. UMH Properties's dividend payout ratio is presently 642.86%.

Analyst Ratings Changes

UMH has been the subject of a number of recent research reports. Wall Street Zen cut shares of UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Finally, Wedbush upgraded shares of UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.25.

Insider Buying and Selling at UMH Properties

In related news, Director Angela D. Pruitt sold 1,600 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $16.06, for a total value of $25,696.00. Following the transaction, the director directly owned 9,905 shares of the company's stock, valued at approximately $159,074.30. This trade represents a 13.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Edward Mitchell sold 75,849 shares of UMH Properties 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 transaction, the director directly owned 41,368 shares in the company, valued at approximately $675,125.76. This represents a 64.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,149 shares of company stock valued at $2,434,782. Corporate insiders own 8.77% of the company's stock.

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.