Panagora Asset Management Inc. Makes New Investment in UMH Properties, Inc. (NYSE:UMH)

Panagora Asset Management Inc. acquired a new position in UMH Properties, Inc. (NYSE:UMH - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 118,724 shares of the real estate investment trust's stock, valued at approximately $1,819,000. Panagora Asset Management Inc. owned approximately 0.18% of UMH Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC purchased a new position in shares of UMH Properties in the fourth quarter valued at $2,930,000. Mutual of America Capital Management LLC purchased a new position in shares of UMH Properties during the 4th quarter worth approximately $1,377,000. Knights of Columbus Asset Advisors LLC raised its position in shares of UMH Properties by 102.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 244,569 shares of the real estate investment trust's stock worth $3,747,000 after purchasing an additional 124,019 shares during the last quarter. D.A. Davidson & CO. lifted its stake in UMH Properties by 6.1% in the 3rd quarter. D.A. Davidson & CO. now owns 657,676 shares of the real estate investment trust's stock valued at $9,221,000 after buying an additional 37,909 shares in the last quarter. Finally, Invesco Ltd. increased its position in UMH Properties by 21.4% during the third quarter. Invesco Ltd. now owns 625,464 shares of the real estate investment trust's stock worth $8,769,000 after buying an additional 110,276 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company's stock.

Insider Activity at UMH Properties

In other news, COO Brett Taft sold 9,800 shares of the business's stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total transaction of $155,918.00. Following the transaction, the chief operating officer now directly owns 97,049 shares of the company's stock, valued at $1,544,049.59. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 8.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on UMH shares. B. Riley initiated coverage on UMH Properties in a research note on Thursday, March 21st. They set a "buy" rating and a $18.50 price objective on the stock. William Blair reissued a "neutral" rating on shares of UMH Properties in a research report on Monday, May 13th. Wedbush reaffirmed a "neutral" rating and issued a $17.00 target price on shares of UMH Properties in a research note on Monday, May 13th. StockNews.com lowered UMH Properties from a "hold" rating to a "sell" rating in a research note on Sunday, May 5th. Finally, Compass Point lifted their price objective on UMH Properties from $20.00 to $21.50 and gave the company a "buy" rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, UMH Properties presently has a consensus rating of "Hold" and a consensus price target of $19.00.

UMH Properties Trading Down 1.3 %

Shares of UMH traded down $0.21 during trading hours on Tuesday, hitting $15.60. The stock had a trading volume of 255,463 shares, compared to its average volume of 357,063. The company's fifty day simple moving average is $15.79 and its 200 day simple moving average is $15.25. UMH Properties, Inc. has a 12-month low of $13.26 and a 12-month high of $16.85. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.82 and a current ratio of 6.82. The firm has a market cap of $1.10 billion, a P/E ratio of -103.99, a P/E/G ratio of 2.87 and a beta of 1.24.

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. This represents a $0.86 dividend on an annualized basis and a yield of 5.51%. This is a boost from UMH Properties's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Tuesday, May 14th. UMH Properties's payout ratio is -573.30%.

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.