UMH Properties (NYSE:UMH) Hits New 12-Month Low Following Insider Selling

Key Points

• UMH Properties (NYSE:UMH) reached a new 12-month low of **$15.70** during trading, driven by significant **insider selling**, with Director William Edward Mitchell selling over **75,000 shares**.
• The company reported earnings of **$0.23 per share**, which fell short of analysts' expectations of **$0.25 per share**, despite revenue exceeding estimates at **$66.64 million**.
• UMH Properties declared a quarterly dividend of **$0.225 per share**, equating to an annualized yield of **5.6%**, with a high dividend payout ratio of **642.86%**.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) hit a new 52-week low during trading on Friday following insider selling activity. The stock traded as low as $15.70 and last traded at $15.96, with a volume of 984614 shares changing hands. The stock had previously closed at $16.00.

Specifically, Director William Edward Mitchell sold 75,849 shares of UMH Properties 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 transaction, the director owned 41,368 shares of the company's stock, valued at approximately $675,125.76. The trade was a 64.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Samuel A. Landy sold 45,700 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $16.40, for a total transaction of $749,480.00. Following the transaction, the chief executive officer owned 1,101,283 shares in the company, valued at $18,061,041.20. The trade was a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several brokerages recently weighed in on UMH. Maxim Group cut their target price on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a research note on Monday, May 5th. B. Riley reaffirmed a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Wedbush raised shares of UMH Properties to a "hold" rating in a research report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded shares of UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th.

UMH Properties Stock Performance

The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 114.00, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The stock has a 50 day moving average price of $16.81 and a two-hundred day moving average price of $17.37.

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

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given 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 of this dividend is Friday, August 15th. UMH Properties's dividend payout ratio (DPR) is presently 642.86%.

Institutional Trading of UMH Properties

A number of large investors have recently bought and sold shares of UMH. Capital Research Global Investors grew its stake in shares of UMH Properties by 124.5% during the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust's stock valued at $76,121,000 after buying an additional 2,236,080 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of UMH Properties during the 4th quarter valued at about $23,396,000. Nuveen LLC acquired a new stake in UMH Properties in the 1st quarter worth about $19,209,000. Alliancebernstein L.P. lifted its stake in UMH Properties by 1,091.0% in the 1st quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust's stock worth $16,759,000 after purchasing an additional 820,934 shares in the last quarter. Finally, Strs Ohio lifted its stake in UMH Properties by 3,361.8% in the 2nd quarter. Strs Ohio now owns 470,800 shares of the real estate investment trust's stock worth $7,905,000 after purchasing an additional 457,200 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

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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