Private Management Group Inc. Has $24.59 Million Stock Holdings in UMH Properties, Inc. (NYSE:UMH)

Private Management Group Inc. trimmed its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 4.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,249,903 shares of the real estate investment trust’s stock after selling 57,629 shares during the period. Private Management Group Inc. owned about 1.59% of UMH Properties worth $24,586,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in UMH Properties by 10.6% in the 4th quarter. Vanguard Group Inc. now owns 6,541,226 shares of the real estate investment trust’s stock valued at $100,212,000 after purchasing an additional 629,427 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in UMH Properties by 3.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 69,952 shares of the real estate investment trust’s stock worth $1,136,000 after purchasing an additional 2,058 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of UMH Properties by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 28,798 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 668 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of UMH Properties by 10.3% in the 1st quarter. Daiwa Securities Group Inc. now owns 20,214 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 1,880 shares during the last quarter. Finally, Jennison Associates LLC increased its position in UMH Properties by 0.4% in the first quarter. Jennison Associates LLC now owns 1,305,618 shares of the real estate investment trust’s stock worth $21,203,000 after buying an additional 5,015 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $19.54, for a total transaction of $52,758.00. Following the sale, the director now owns 412 shares in the company, valued at $8,050.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.63% of the company’s stock.

Analyst Upgrades and Downgrades

UMH has been the topic of a number of analyst reports. B. Riley boosted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. Alliance Global Partners initiated coverage on UMH Properties in a research report on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective on the stock. Wedbush increased their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, UMH Properties currently has an average rating of “Moderate Buy” and an average price target of $21.25.

UMH Properties Trading Down 2.4 %

Shares of NYSE:UMH traded down $0.44 during mid-day trading on Friday, reaching $18.21. 267,337 shares of the company were exchanged, compared to its average volume of 240,245. The company has a debt-to-equity ratio of 1.49, a current ratio of 6.77 and a quick ratio of 6.77. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -260.11, a P/E/G ratio of 3.35 and a beta of 1.30. The firm’s 50-day simple moving average is $19.28 and its 200 day simple moving average is $17.48. UMH Properties, Inc. has a 1 year low of $13.91 and a 1 year high of $20.64.

UMH Properties (NYSE:UMH) last posted its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The firm had revenue of $60.33 million for the quarter, compared to analyst estimates of $59.84 million. UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. During the same quarter last year, the firm posted $0.21 EPS. Equities research analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a dividend of $0.215 per share. This represents a $0.86 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Friday, November 15th. UMH Properties’s payout ratio is -1,228.40%.

UMH Properties 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.