Resona Asset Management Co. Ltd. Makes New Investment in UMH Properties, Inc. (NYSE:UMH)

Resona Asset Management Co. Ltd. acquired a new stake in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,091 shares of the real estate investment trust's stock, valued at approximately $546,000.

Several other institutional investors have also modified their holdings of UMH. Farther Finance Advisors LLC grew its stake in shares of UMH Properties by 1,011.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,456 shares during the last quarter. Golden State Wealth Management LLC bought a new position in UMH Properties in the 4th quarter valued at $38,000. Ulland Investment Advisors LLC grew its position in UMH Properties by 291.5% in the 4th quarter. Ulland Investment Advisors LLC now owns 3,915 shares of the real estate investment trust's stock valued at $74,000 after acquiring an additional 2,915 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new stake in UMH Properties in the fourth quarter worth $197,000. Finally, Custom Index Systems LLC purchased a new position in UMH Properties in the 4th quarter worth about $215,000. 75.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UMH. Wedbush restated a "neutral" rating and set a $20.00 price target on shares of UMH Properties in a research note on Monday, January 13th. StockNews.com cut shares of UMH Properties from a "hold" rating to a "sell" rating in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, UMH Properties has a consensus rating of "Hold" and a consensus target price of $21.17.

UMH Properties Stock Up 0.5 %

Shares of UMH traded up $0.09 during mid-day trading on Wednesday, hitting $17.13. 63,736 shares of the company traded hands, compared to its average volume of 372,523. The company has a market capitalization of $1.41 billion, a PE ratio of 131.78, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The business has a 50 day moving average of $18.01 and a 200 day moving average of $18.54. UMH Properties, Inc. has a 1-year low of $14.73 and a 1-year high of $20.64.

UMH Properties (NYSE:UMH - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.21. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of ($126.74) million during the quarter, compared to analysts' expectations of $59.73 million. Equities research analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Thursday, May 15th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from UMH Properties's previous quarterly dividend of $0.22. UMH Properties's dividend payout ratio (DPR) is currently 3,000.00%.

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.