UMH Properties, Inc. $UMH Stock Holdings Boosted 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 holdings in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 1.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,324,531 shares of the real estate investment trust's stock after buying an additional 73,196 shares during the quarter. T. Rowe Price Investment Management Inc. owned 6.33% of UMH Properties worth $99,569,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of UMH. Cherry Creek Investment Advisors Inc. bought a new position in UMH Properties in the 1st quarter worth $675,000. KBC Group NV bought a new stake in shares of UMH Properties in the first quarter valued at about $32,000. Allianz Asset Management GmbH purchased a new stake in UMH Properties in the first quarter valued at approximately $788,000. Principal Financial Group Inc. raised its stake in shares of UMH Properties by 3.6% during the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust's stock worth $726,000 after buying an additional 1,362 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of UMH Properties by 28.9% during the 4th quarter. Deutsche Bank AG now owns 81,923 shares of the real estate investment trust's stock worth $1,547,000 after acquiring an additional 18,375 shares during the period. Hedge funds and other institutional investors own 75.40% of the company's stock.

UMH Properties Stock Performance

Shares of UMH stock traded up $0.09 during trading on Wednesday, hitting $15.67. The company's stock had a trading volume of 229,955 shares, compared to its average volume of 411,738. The business has a fifty day moving average of $16.62 and a 200-day moving average of $17.23. UMH Properties, Inc. has a 52 week low of $15.46 and a 52 week high of $20.64. The company has a market cap of $1.33 billion, a PE ratio of 111.64, a P/E/G 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 (NYSE:UMH - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $66.64 million for the quarter, compared to analysts' expectations of $66.07 million. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. As a group, research analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, August 15th. UMH Properties's dividend payout ratio (DPR) is 642.86%.

Insiders Place Their Bets

In other UMH Properties news, 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 sale, the director directly owned 41,368 shares of the company's stock, valued at approximately $675,125.76. This represents a 64.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Angela D. Pruitt sold 1,600 shares of the firm's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $16.06, for a total transaction of $25,696.00. Following the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 148,149 shares of company stock valued at $2,434,782. Insiders own 8.77% of the company's stock.

Wall Street Analyst Weigh In

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