Northern Trust Corp Raises Stake in UMH Properties, Inc. (NYSE:UMH)

Northern Trust Corp boosted its stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 27.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,180,928 shares of the real estate investment trust's stock after acquiring an additional 251,509 shares during the period. Northern Trust Corp owned about 1.50% of UMH Properties worth $22,296,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Capital Research Global Investors raised its position in shares of UMH Properties by 124.5% in the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock valued at $76,121,000 after buying an additional 2,236,080 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UMH Properties in the fourth quarter valued at about $23,396,000. Vanguard Group Inc. raised its position in shares of UMH Properties by 11.9% in the fourth quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust's stock valued at $141,722,000 after buying an additional 799,798 shares during the last quarter. APG Asset Management US Inc. acquired a new stake in shares of UMH Properties in the fourth quarter valued at about $9,121,000. Finally, Franklin Resources Inc. acquired a new stake in shares of UMH Properties in the third quarter valued at about $4,421,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.

UMH Properties Trading Up 1.0%

Shares of UMH traded up $0.16 during mid-day trading on Friday, reaching $17.20. The stock had a trading volume of 362,471 shares, compared to its average volume of 433,733. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties, Inc. has a 52-week low of $14.73 and a 52-week high of $20.64. The business's fifty day moving average is $17.62 and its 200 day moving average is $18.28. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 132.34, a P/E/G ratio of 2.93 and a beta of 1.14.

UMH Properties (NYSE:UMH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $61.23 million during the quarter, compared to analysts' expectations of $62.82 million. On average, sell-side analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a $0.225 dividend. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.90 annualized dividend and a dividend yield of 5.23%. UMH Properties's dividend payout ratio (DPR) is presently 750.00%.

Insider Activity

In other news, Director William Edward Mitchell sold 39,974 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $16.94, for a total value of $677,159.56. Following the completion of the transaction, the director now owns 115,627 shares of the company's stock, valued at approximately $1,958,721.38. This trade represents a 25.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.77% of the company's stock.

Analyst Ratings Changes

UMH has been the subject of a number of recent research reports. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. StockNews.com lowered shares of UMH Properties from a "hold" rating to a "sell" rating in a report on Tuesday, May 13th. Finally, Maxim Group dropped their price objective on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $21.00.

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.