Michael Landy Buys 10,000 Shares of UMH Properties (NYSE:UMH) Stock

Key Points

• Michael Landy, Director of UMH Properties, purchased 10,000 shares at an average price of $14.46, increasing his total holdings to 362,052 shares valued at over $5.2 million.
• UMH Properties reported a quarterly earnings miss, with earnings per share of $0.23 compared to the expected $0.25, despite revenue exceeding estimates at $66.64 million.
• The company has a dividend yield of 6.1%, paying $0.225 per share, while its payout ratio stands at 642.86%.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) Director Michael Landy acquired 10,000 shares of UMH Properties stock in a transaction on Monday, September 29th. The shares were bought at an average cost of $14.46 per share, with a total value of $144,600.00. Following the completion of the purchase, the director owned 362,052 shares in the company, valued at $5,235,271.92. The trade was a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

UMH Properties Stock Performance

UMH Properties stock traded down $0.06 during mid-day trading on Monday, reaching $14.67. 653,901 shares of the company were exchanged, compared to its average volume of 458,289. UMH Properties, Inc. has a twelve month low of $14.37 and a twelve month high of $20.42. The firm's 50-day simple moving average is $15.79 and its two-hundred day simple moving average is $16.74. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. The firm has a market cap of $1.25 billion, a PE ratio of 104.82, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.The company had revenue of $66.64 million for the quarter, compared to analyst estimates of $66.07 million. Equities analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, August 15th were issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Friday, August 15th. UMH Properties's payout ratio is currently 642.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wedbush upgraded shares of UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded shares of UMH Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Two equities research 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 presently has a consensus rating of "Moderate Buy" and an average target price of $20.25.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Cherry Creek Investment Advisors Inc. purchased a new stake in UMH Properties in the 1st quarter worth approximately $675,000. KBC Group NV purchased a new stake in UMH Properties in the 1st quarter worth approximately $32,000. Allianz Asset Management GmbH purchased a new stake in UMH Properties in the 1st quarter worth approximately $788,000. Principal Financial Group Inc. grew its stake in UMH Properties by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust's stock worth $726,000 after acquiring an additional 1,362 shares during the period. Finally, T. Rowe Price Investment Management Inc. grew its stake in UMH Properties by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust's stock worth $99,569,000 after acquiring an additional 73,196 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.

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.

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