William Edward Mitchell Sells 75,849 Shares of UMH Properties (NYSE:UMH) Stock

Key Points

• Director Sale: UMH Properties Director William Edward Mitchell sold 75,849 shares worth $1,237,855.68, reducing his stake by 64.71% to 41,368 shares valued at approximately $675,125.76.
• Quarterly Earnings: The company reported an EPS of $0.23 for the last quarter, missing the consensus estimate of $0.25, though revenue exceeded expectations at $66.64 million.
• Dividend Announcement: UMH Properties declared a quarterly dividend of $0.225 per share, payable on September 15, with an annualized yield of 5.5% and a dividend payout ratio of 642.86%.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) Director William Edward Mitchell sold 75,849 shares of the company's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $16.32, for a total value of $1,237,855.68. Following the completion of the sale, the director owned 41,368 shares in the company, valued at $675,125.76. This trade represents a 64.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

UMH Properties Price Performance

NYSE UMH traded up $0.1960 during trading hours on Tuesday, reaching $15.8060. 550,668 shares of the company's stock were exchanged, compared to its average volume of 426,587. The firm has a fifty day moving average of $16.73 and a 200-day moving average of $17.32. UMH Properties, Inc. has a one year low of $15.61 and a one year high of $20.64. The stock has a market cap of $1.34 billion, a PE ratio of 112.90, a price-to-earnings-growth ratio of 2.65 and a beta of 1.13. The company has a current ratio of 8.56, a quick ratio of 8.56 and a debt-to-equity ratio of 1.08.

UMH Properties (NYSE:UMH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The business had revenue of $66.64 million during the quarter, compared to the consensus estimate of $66.07 million. On average, equities research analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, August 15th. UMH Properties's dividend payout ratio (DPR) is presently 642.86%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on UMH shares. B. Riley reiterated a "buy" rating on shares of UMH Properties in a research report on Tuesday, May 13th. Wedbush raised UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Maxim Group dropped their target price on UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Wall Street Zen cut UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $20.25.

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently modified their holdings of UMH. CANADA LIFE ASSURANCE Co raised its holdings in shares of UMH Properties by 13.8% in the second quarter. CANADA LIFE ASSURANCE Co now owns 118,627 shares of the real estate investment trust's stock valued at $1,990,000 after purchasing an additional 14,343 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in UMH Properties by 468.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 14,385 shares of the real estate investment trust's stock worth $242,000 after buying an additional 11,855 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of UMH Properties by 127.5% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,182 shares of the real estate investment trust's stock worth $154,000 after buying an additional 5,146 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of UMH Properties by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 1,189,252 shares of the real estate investment trust's stock worth $19,968,000 after buying an additional 91,202 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of UMH Properties in the 2nd quarter valued at about $775,000. Institutional investors and hedge funds own 75.40% of the company's stock.

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.