William Blair Investment Management LLC Has $29.50 Million Stock Holdings in UMH Properties, Inc. $UMH

Key Points

• William Blair Investment Management LLC reduced its holdings in UMH Properties by 7.7% during the second quarter, now owning approximately 2.09% of the company, valued at $29.50 million.
• UMH Properties recently announced a quarterly dividend of $0.225 per share, representing an annualized payout of $0.90 and a yield of 6.3%.
• The company's stock has a market capitalization of $1.21 billion and reported earnings of $0.23 EPS in their last quarterly announcement, missing the consensus estimate.

William Blair Investment Management LLC lessened its holdings in UMH Properties, Inc. (NYSE:UMH - Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,757,148 shares of the real estate investment trust's stock after selling 147,297 shares during the period. William Blair Investment Management LLC owned about 2.09% of UMH Properties worth $29,503,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of UMH. Nuveen LLC acquired a new stake in UMH Properties during the first quarter valued at $19,209,000. Alliancebernstein L.P. raised its holdings in UMH Properties by 1,091.0% during the first quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust's stock valued at $16,759,000 after buying an additional 820,934 shares in the last quarter. McIlrath & Eck LLC raised its holdings in UMH Properties by 161.3% during the first quarter. McIlrath & Eck LLC now owns 266,398 shares of the real estate investment trust's stock valued at $4,982,000 after buying an additional 164,465 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in UMH Properties by 71.9% during the first quarter. Russell Investments Group Ltd. now owns 366,810 shares of the real estate investment trust's stock valued at $6,859,000 after buying an additional 153,470 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its holdings in UMH Properties by 1.4% during the first 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 buying an additional 73,196 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company's stock.

UMH Properties Stock Up 0.5%

Shares of UMH opened at $14.27 on Monday. The company has a market capitalization of $1.21 billion, a P/E ratio of 101.89, a PEG ratio of 2.49 and a beta of 1.05. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. UMH Properties, Inc. has a one year low of $13.95 and a one year high of $20.42. The business's 50 day simple moving average is $15.12 and its 200-day simple moving average is $16.32.

UMH Properties (NYSE:UMH - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $66.64 million during the quarter, compared to analyst estimates of $66.07 million. UMH Properties had a return on equity of 5.19% and a net margin of 12.18%. As a group, sell-side analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 annualized dividend and a yield of 6.3%. UMH Properties's dividend payout ratio is currently 642.86%.

Analyst Upgrades and Downgrades

UMH has been the subject of several research analyst reports. Wedbush raised UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Weiss Ratings restated a "hold (c)" rating on shares of UMH Properties in a research note on Wednesday, October 8th. Wall Street Zen lowered UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Cantor Fitzgerald assumed coverage on UMH Properties in a research note on Wednesday, October 1st. They issued a "neutral" rating and a $15.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, UMH Properties presently has a consensus rating of "Hold" and a consensus price target of $18.50.

Insider Transactions at UMH Properties

In other UMH Properties news, Director Angela D. Pruitt sold 1,600 shares of the company'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 owned 9,905 shares of the company's stock, valued at approximately $159,074.30. This represents a 13.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael P. Landy purchased 10,000 shares of the business's stock in a transaction dated Monday, September 29th. The stock was bought at an average cost of $14.46 per share, for a total transaction of $144,600.00. Following the purchase, the director owned 362,052 shares in the company, valued at $5,235,271.92. This trade represents a 2.84% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 10,743 shares of company stock worth $155,097 and sold 175,249 shares worth $2,775,528. 8.77% of the stock is currently owned by corporate insiders.

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.

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