UMH Properties, Inc. $UMH Shares Bought by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in UMH Properties by 1.4%, acquiring a total of 5,324,531 shares valued at approximately $99.57 million.
• UMH Properties has announced a quarterly dividend of $0.225 per share, providing an annualized yield of 5.7%, with payment scheduled for September 15th.
• Recent analyst ratings have mixed views on UMH, with one downgrade to "sell," but a consensus rating of "Moderate Buy" with a price target of $20.25.

T. Rowe Price Investment Management Inc. grew its position in UMH Properties, Inc. (NYSE:UMH - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,324,531 shares of the real estate investment trust's stock after acquiring an additional 73,196 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 6.33% of UMH Properties worth $99,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC raised its stake in shares of UMH Properties by 8.6% in the first quarter. Hsbc Holdings PLC now owns 64,392 shares of the real estate investment trust's stock valued at $1,204,000 after acquiring an additional 5,126 shares during the period. Northern Trust Corp grew its holdings in shares of UMH Properties by 4.2% in the first quarter. Northern Trust Corp now owns 1,229,968 shares of the real estate investment trust's stock worth $23,000,000 after purchasing an additional 49,040 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of UMH Properties in the first quarter worth about $35,000. State of New Jersey Common Pension Fund D grew its holdings in shares of UMH Properties by 5.6% in the first quarter. State of New Jersey Common Pension Fund D now owns 411,742 shares of the real estate investment trust's stock worth $7,700,000 after purchasing an additional 22,000 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in UMH Properties by 0.5% during the 1st quarter. American Century Companies Inc. now owns 2,105,608 shares of the real estate investment trust's stock worth $39,375,000 after acquiring an additional 10,602 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company's stock.

Insiders Place Their Bets

In other UMH Properties news, CEO Samuel A. Landy sold 45,700 shares of the 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $1,237,855.68. Following the transaction, the director directly owned 41,368 shares of the company's stock, valued at $675,125.76. The trade was a 64.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,549 shares of company stock worth $2,409,086 in the last three months. 8.77% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UMH. Wedbush upgraded shares of UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. B. Riley restated a "buy" rating on shares of UMH Properties in a report on Tuesday, May 13th. Maxim Group lowered their price target on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen cut shares of UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, UMH Properties has an average rating of "Moderate Buy" and a consensus price target of $20.25.

UMH Properties Stock Performance

UMH stock traded up $0.3450 during midday trading on Friday, hitting $16.0150. 979,964 shares of the stock traded hands, compared to its average volume of 494,452. The firm has a market cap of $1.36 billion, a P/E ratio of 114.39, a PEG ratio of 2.71 and a beta of 1.13. 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 stock's fifty day simple moving average is $16.66 and its 200-day simple moving average is $17.26. UMH Properties, Inc. has a 1-year low of $15.46 and a 1-year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $66.07 million. On average, analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $0.225 dividend. 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 (DPR) is currently 642.86%.

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.