Cerity Partners LLC Purchases New Position in UMH Properties, Inc. (NYSE:UMH)

Cerity Partners LLC bought a new stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 191,234 shares of the real estate investment trust's stock, valued at approximately $2,930,000. Cerity Partners LLC owned approximately 0.29% of UMH Properties at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in UMH. Private Management Group Inc. increased its holdings in shares of UMH Properties by 609.8% in the third quarter. Private Management Group Inc. now owns 1,036,353 shares of the real estate investment trust's stock valued at $14,530,000 after purchasing an additional 890,355 shares during the period. BlackRock Inc. increased its holdings in shares of UMH Properties by 22.9% in the second quarter. BlackRock Inc. now owns 4,759,328 shares of the real estate investment trust's stock valued at $76,054,000 after purchasing an additional 886,892 shares during the period. American Century Companies Inc. increased its holdings in shares of UMH Properties by 29.5% in the third quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust's stock valued at $35,501,000 after purchasing an additional 576,304 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of UMH Properties by 106.2% in the fourth quarter. JPMorgan Chase & Co. now owns 923,943 shares of the real estate investment trust's stock valued at $14,875,000 after purchasing an additional 475,945 shares during the period. Finally, State Street Corp increased its holdings in shares of UMH Properties by 45.1% in the first quarter. State Street Corp now owns 1,352,259 shares of the real estate investment trust's stock valued at $33,252,000 after purchasing an additional 420,618 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on UMH. Compass Point raised their target price on UMH Properties from $20.00 to $21.50 and gave the stock a "buy" rating in a report on Thursday, March 21st. StockNews.com raised UMH Properties from a "sell" rating to a "hold" rating in a report on Tuesday. Wedbush reaffirmed a "neutral" rating and set a $17.00 target price on shares of UMH Properties in a report on Monday, March 25th. Finally, B. Riley began coverage on UMH Properties in a report on Thursday, March 21st. They set a "buy" rating and a $18.50 target price on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, UMH Properties presently has a consensus rating of "Hold" and an average price target of $19.00.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of the firm's stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the transaction, the chief operating officer now owns 97,049 shares in the company, valued at $1,544,049.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.63% of the stock is currently owned by company insiders.

UMH Properties Price Performance

UMH stock traded up $0.07 during mid-day trading on Thursday, reaching $15.25. 257,186 shares of the company's stock were exchanged, compared to its average volume of 369,304. The company has a market cap of $1.06 billion, a price-to-earnings ratio of -101.63, a price-to-earnings-growth ratio of 2.72 and a beta of 1.24. The stock's 50 day moving average is $15.47 and its 200 day moving average is $14.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.52 and a quick ratio of 6.52. UMH Properties, Inc. has a 12-month low of $13.26 and a 12-month high of $16.85.

UMH Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 dividend on an annualized basis and a yield of 5.64%. This is an increase from UMH Properties's previous quarterly dividend of $0.21. UMH Properties's dividend payout ratio is currently -546.63%.

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.