Insider Selling: UMH Properties, Inc. (NYSE:UMH) COO Sells 9,800 Shares of Stock

UMH Properties, Inc. (NYSE:UMH - Get Free Report) COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the sale, the chief operating officer now directly owns 97,049 shares of the company's stock, valued at $1,544,049.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

UMH Properties Stock Performance

Shares of UMH stock traded down $0.22 during mid-day trading on Friday, reaching $15.61. The stock had a trading volume of 310,877 shares, compared to its average volume of 369,910. The business's fifty day moving average is $15.35 and its 200-day moving average is $14.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -104.00, a PEG ratio of 2.87 and a beta of 1.24. UMH Properties, Inc. has a 1-year low of $13.26 and a 1-year high of $16.85.

UMH Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be issued a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a yield of 5.51%. This is a positive change from UMH Properties's previous quarterly dividend of $0.21. The ex-dividend date is Tuesday, May 14th. UMH Properties's dividend payout ratio (DPR) is -573.33%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UMH. StockNews.com cut UMH Properties from a "hold" rating to a "sell" rating in a research note on Tuesday, March 26th. Compass Point increased their price target on UMH Properties from $20.00 to $21.50 and gave the company a "buy" rating in a research note on Thursday, March 21st. Wedbush reiterated a "neutral" rating and issued a $17.00 price target on shares of UMH Properties in a research note on Monday, March 25th. Finally, B. Riley began coverage on UMH Properties in a research note on Thursday, March 21st. They issued a "buy" rating and a $18.50 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $19.00.

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of UMH. Private Management Group Inc. grew its holdings in UMH Properties by 609.8% during the third quarter. Private Management Group Inc. now owns 1,036,353 shares of the real estate investment trust's stock worth $14,530,000 after acquiring an additional 890,355 shares during the period. BlackRock Inc. grew its holdings in UMH Properties by 22.9% during the second quarter. BlackRock Inc. now owns 4,759,328 shares of the real estate investment trust's stock worth $76,054,000 after acquiring an additional 886,892 shares during the period. Vanguard Group Inc. boosted its position in UMH Properties by 10.6% during the fourth quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust's stock worth $100,212,000 after purchasing an additional 629,427 shares in the last quarter. American Century Companies Inc. boosted its position in UMH Properties by 29.5% during the third quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust's stock worth $35,501,000 after purchasing an additional 576,304 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in UMH Properties by 106.2% during the fourth quarter. JPMorgan Chase & Co. now owns 923,943 shares of the real estate investment trust's stock worth $14,875,000 after purchasing an additional 475,945 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.

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.