UMH Properties (NYSE:UMH) CEO Samuel Landy Sells 20,000 Shares

Key Points

• UMH Properties CEO Samuel Landy sold 20,000 shares at an average price of $14.19, totaling $283,800, which decreased his ownership by 1.86%.
• The company announced a quarterly dividend of $0.225 per share, which will be paid on December 15th, representing a 6.4% dividend yield.
• UMH Properties reported earnings of $0.23 EPS, missing estimates, while its revenue was $66.64 million, surpassing expectations.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) CEO Samuel Landy sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $14.19, for a total value of $283,800.00. Following the completion of the sale, the chief executive officer directly owned 1,054,568 shares of the company's stock, valued at $14,964,319.92. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

UMH Properties Stock Up 0.3%

UMH Properties stock traded up $0.04 during mid-day trading on Wednesday, reaching $14.16. The stock had a trading volume of 749,011 shares, compared to its average volume of 466,692. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. UMH Properties, Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $20.42. The stock's 50-day simple moving average is $15.46 and its 200-day simple moving average is $16.57. The firm has a market capitalization of $1.20 billion, a PE ratio of 101.14, a price-to-earnings-growth ratio of 2.48 and a beta of 1.05.

UMH Properties (NYSE:UMH - Get Free Report) last announced its earnings results 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). The company had revenue of $66.64 million for the quarter, compared to analysts' expectations of $66.07 million. UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. On average, sell-side analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be given a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 annualized dividend and a dividend yield of 6.4%. UMH Properties's payout ratio is presently 642.86%.

Hedge Funds Weigh In On UMH Properties

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cherry Creek Investment Advisors Inc. purchased a new position in shares of UMH Properties in the 1st quarter worth about $675,000. KBC Group NV purchased a new position in shares of UMH Properties in the 1st quarter worth about $32,000. Allianz Asset Management GmbH purchased a new position in shares of UMH Properties in the 1st quarter worth about $788,000. Principal Financial Group Inc. boosted its holdings in shares of UMH Properties by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust's stock worth $726,000 after purchasing an additional 1,362 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of UMH Properties by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust's stock worth $99,569,000 after purchasing an additional 73,196 shares in the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on UMH shares. Cantor Fitzgerald started coverage on UMH Properties in a research report on Wednesday, October 1st. They set a "neutral" rating and a $15.00 target price on the stock. Wedbush upgraded UMH Properties to a "hold" rating in a report on Wednesday, July 2nd. Wall Street Zen lowered UMH Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of UMH Properties in a report on Wednesday. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $18.50.

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.

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