UMH Properties, Inc. $UMH Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. significantly increased its stake in UMH Properties, Inc. by 1,091%, acquiring a total of 896,183 shares valued at approximately $16.76 million.
• UMH Properties recently announced a quarterly dividend of $0.225 per share, translating to an annual yield of 5.9% and a high dividend payout ratio of 642.86%.
• The company's latest earnings report revealed an EPS of $0.23, falling short of the estimated $0.25, although revenue surpassed expectations at $66.64 million.

Alliancebernstein L.P. lifted its position in UMH Properties, Inc. (NYSE:UMH - Free Report) by 1,091.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 896,183 shares of the real estate investment trust's stock after purchasing an additional 820,934 shares during the quarter. Alliancebernstein L.P. owned approximately 1.07% of UMH Properties worth $16,759,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its stake in UMH Properties by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust's stock valued at $99,569,000 after acquiring an additional 73,196 shares during the last quarter. American Century Companies Inc. raised its stake 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 valued at $39,375,000 after acquiring an additional 10,602 shares during the last quarter. Northern Trust Corp raised its stake in UMH Properties by 4.2% during the 1st quarter. Northern Trust Corp now owns 1,229,968 shares of the real estate investment trust's stock valued at $23,000,000 after acquiring an additional 49,040 shares during the last quarter. Bank of America Corp DE raised its stake in UMH Properties by 0.7% during the 4th quarter. Bank of America Corp DE now owns 1,144,077 shares of the real estate investment trust's stock valued at $21,600,000 after acquiring an additional 7,831 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in UMH Properties during the 1st quarter valued at approximately $19,209,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UMH shares. Wall Street Zen downgraded UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Wedbush raised UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.25.

UMH Properties Price Performance

NYSE UMH traded down $0.08 during mid-day trading on Wednesday, hitting $15.04. The stock had a trading volume of 805,338 shares, compared to its average volume of 636,336. UMH Properties, Inc. has a 52-week low of $14.76 and a 52-week high of $20.42. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 107.41, a P/E/G ratio of 2.56 and a beta of 1.07. The company has a 50 day simple moving average of $16.08 and a 200 day simple moving average of $16.93. The company has a quick ratio of 8.56, a current ratio of 8.56 and a debt-to-equity ratio of 1.08.

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

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Friday, August 15th. UMH Properties's dividend payout ratio is 642.86%.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, Director William Edward Mitchell sold 75,849 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the sale, the director owned 41,368 shares in the company, valued at approximately $675,125.76. This represents a 64.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Angela D. Pruitt sold 1,600 shares of the stock in a transaction 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 sale, the director owned 9,905 shares in the company, valued at approximately $159,074.30. This trade represents a 13.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 133,149 shares of company stock worth $2,165,532. 8.77% of the stock is owned by insiders.

UMH Properties 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.