Franklin Resources Inc. Cuts Stock Position in UMH Properties, Inc. (NYSE:UMH)

Franklin Resources Inc. trimmed its position in shares of UMH Properties, Inc. (NYSE:UMH - Free Report) by 19.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 189,877 shares of the real estate investment trust's stock after selling 46,148 shares during the period. Franklin Resources Inc. owned about 0.24% of UMH Properties worth $3,585,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com downgraded UMH Properties from a "hold" rating to a "sell" rating in a report on Monday. Wedbush reiterated a "neutral" rating and issued a $20.00 price target on shares of UMH Properties in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $21.17.

UMH Properties Stock Performance

NYSE:UMH traded up $0.41 during mid-day trading on Thursday, reaching $17.35. 66,238 shares of the stock were exchanged, compared to its average volume of 425,569. The stock has a market capitalization of $1.43 billion, a P/E ratio of 133.51, a P/E/G ratio of 2.93 and a beta of 1.17. UMH Properties, Inc. has a 1 year low of $14.73 and a 1 year high of $20.64. The company has a 50 day simple moving average of $17.99 and a 200-day simple moving average of $18.53. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH - Get Free Report) last announced its 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 for the quarter, compared to analyst estimates of $59.73 million. Analysts anticipate that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.225 per share. This is an increase from UMH Properties's previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 15th. This represents a $0.90 annualized dividend and a dividend yield of 5.19%. UMH Properties's dividend payout ratio is 3,000.00%.

About UMH Properties

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.