Waratah Capital Advisors Ltd. trimmed its stake in shares of UMH PROPERTIES/SH SH (NYSE:UMH) by 88.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,609 shares of the real estate investment trust’s stock after selling 293,763 shares during the period. Waratah Capital Advisors Ltd.’s holdings in UMH PROPERTIES/SH SH were worth $573,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of UMH PROPERTIES/SH SH by 20.7% during the third quarter. Russell Investments Group Ltd. now owns 581,139 shares of the real estate investment trust’s stock valued at $9,089,000 after purchasing an additional 99,841 shares during the last quarter. Northpointe Capital LLC lifted its stake in UMH PROPERTIES/SH SH by 87.9% in the 3rd quarter. Northpointe Capital LLC now owns 428,271 shares of the real estate investment trust’s stock worth $6,698,000 after acquiring an additional 200,400 shares in the last quarter. GW Henssler & Associates Ltd. purchased a new stake in UMH PROPERTIES/SH SH in the 3rd quarter worth about $1,601,000. SG Capital Management LLC purchased a new stake in UMH PROPERTIES/SH SH in the 3rd quarter worth about $1,033,000. Finally, Fiduciary Group LLC purchased a new stake in UMH PROPERTIES/SH SH in the 3rd quarter worth about $266,000. 53.00% of the stock is owned by institutional investors and hedge funds.
In related news, General Counsel Craig Koster sold 3,500 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $16.31, for a total value of $57,085.00. Following the completion of the sale, the general counsel now directly owns 6,895 shares of the company’s stock, valued at approximately $112,457.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $15.75, for a total value of $126,000.00. Following the completion of the sale, the chairman now directly owns 622,292 shares of the company’s stock, valued at $9,801,099. The disclosure for this sale can be found here. Over the last three months, insiders purchased 9,532 shares of company stock valued at $156,004. Company insiders own 10.89% of the company’s stock.
UMH PROPERTIES/SH SH (NYSE:UMH) last announced its quarterly earnings data on Tuesday, August 7th. The real estate investment trust reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.21. The firm had revenue of $32.10 million during the quarter, compared to the consensus estimate of $32.03 million. UMH PROPERTIES/SH SH had a negative return on equity of 5.62% and a negative net margin of 8.17%. On average, research analysts forecast that UMH PROPERTIES/SH SH will post 0.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 4.96%. The ex-dividend date of this dividend is Wednesday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio is currently 101.41%.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised UMH PROPERTIES/SH SH from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Boenning Scattergood assumed coverage on UMH PROPERTIES/SH SH in a research note on Monday, September 17th. They issued an “outperform” rating and a $19.50 price objective for the company.
UMH PROPERTIES/SH SH Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 114 manufactured home communities containing approximately 20,600 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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