UMH Properties (NYSE:UMH) Hits New 12-Month Low - Here's What Happened

Key Points

• UMH Properties shares have hit a new 52-week low, trading as low as $13.98 amid a volume of 110,144 shares.
• The company announced a quarterly dividend of $0.225 per share, representing a 6.4% yield, with the ex-dividend date set for November 17th.
• Analysts have mixed opinions, with an average rating of "Hold" and a consensus target price of $18.50 for the stock.

Shares of UMH Properties, Inc. (NYSE:UMH - Get Free Report) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $13.98 and last traded at $13.97, with a volume of 110144 shares traded. The stock had previously closed at $14.12.

Analyst Ratings Changes

Several research firms have commented on UMH. Cantor Fitzgerald began coverage on shares of UMH Properties in a research note on Wednesday, October 1st. They set a "neutral" rating and a $15.00 target price on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of UMH Properties in a research note on Wednesday, October 8th. Wall Street Zen downgraded UMH Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Wedbush raised UMH Properties to a "hold" rating in a research note on Wednesday, July 2nd. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, UMH Properties currently has an average rating of "Hold" and a consensus target price of $18.50.

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 firm has a market capitalization of $1.19 billion, a PE ratio of 100.04, a P/E/G ratio of 2.46 and a beta of 1.05. The firm has a fifty day moving average price of $15.33 and a 200 day moving average price of $16.47.

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

UMH Properties Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Angela D. Pruitt sold 1,600 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $16.06, for a total value of $25,696.00. Following the transaction, the director owned 9,905 shares in the company, valued at $159,074.30. This represents a 13.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William Edward Mitchell sold 75,849 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $16.32, for a total transaction of $1,237,855.68. Following the completion of the sale, the director directly owned 41,368 shares of the company's stock, valued at $675,125.76. This trade represents a 64.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 175,249 shares of company stock worth $2,775,528. 8.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On UMH Properties

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. grew its holdings in shares of UMH Properties by 1.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust's stock valued at $99,569,000 after acquiring an additional 73,196 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of UMH Properties by 13.5% during the 2nd quarter. American Century Companies Inc. now owns 2,389,308 shares of the real estate investment trust's stock valued at $40,116,000 after purchasing an additional 283,700 shares in the last quarter. Geode Capital Management LLC increased its position in UMH Properties by 5.5% during the second quarter. Geode Capital Management LLC now owns 1,999,240 shares of the real estate investment trust's stock worth $33,571,000 after buying an additional 103,446 shares during the last quarter. Jennison Associates LLC increased its position in UMH Properties by 10.9% during the second quarter. Jennison Associates LLC now owns 1,536,362 shares of the real estate investment trust's stock worth $25,796,000 after buying an additional 150,718 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in UMH Properties by 4.2% during the first quarter. Northern Trust Corp now owns 1,229,968 shares of the real estate investment trust's stock valued at $23,000,000 after buying an additional 49,040 shares in the last quarter. Hedge funds and other institutional investors 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.

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