William Edward Mitchell Sells 75,849 Shares of UMH Properties, Inc. (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 stock was sold at an average price of $16.32, for a total value of $1,237,855.68. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

UMH Properties Stock Down 0.3%

UMH Properties stock traded down $0.04 during mid-day trading on Monday, hitting $15.93. 24,042 shares of the company's stock were exchanged, compared to its average volume of 401,207. The company has a current ratio of 8.56, a quick ratio of 8.56 and a debt-to-equity ratio of 1.08. The stock has a market cap of $1.35 billion, a P/E ratio of 113.93, a P/E/G ratio of 2.71 and a beta of 1.13. UMH Properties, Inc. has a 1-year low of $15.70 and a 1-year high of $20.64. The stock has a 50 day moving average of $16.79 and a two-hundred day moving average of $17.34.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The company had revenue of $66.64 million for the quarter, compared to analyst estimates of $66.07 million. As a group, analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Friday, August 15th. UMH Properties's dividend payout ratio is currently 642.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wall Street Zen cut UMH Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Wedbush upgraded UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. B. Riley restated a "buy" rating on shares of UMH Properties in a report on Tuesday, May 13th. Finally, Maxim Group dropped their target price on UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research report on Monday, May 5th.

Institutional Investors Weigh In On UMH Properties

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

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.