UMH PROPERTIES/SH SH (NYSE:UMH) Stake Cut by Wells Fargo & Company MN

Wells Fargo & Company MN cut its position in shares of UMH PROPERTIES/SH SH (NYSE:UMH) by 36.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 669,424 shares of the real estate investment trust’s stock after selling 378,507 shares during the period. Wells Fargo & Company MN’s holdings in UMH PROPERTIES/SH SH were worth $8,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in UMH PROPERTIES/SH SH by 114.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,937 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 1,569 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in UMH PROPERTIES/SH SH by 5,101.5% during the first quarter. BNP Paribas Arbitrage SA now owns 6,918 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 6,785 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in UMH PROPERTIES/SH SH by 22.9% during the second quarter. State of Alaska Department of Revenue now owns 13,615 shares of the real estate investment trust’s stock worth $168,000 after purchasing an additional 2,534 shares during the last quarter. Forsta AP Fonden lifted its stake in UMH PROPERTIES/SH SH by 16.5% during the first quarter. Forsta AP Fonden now owns 14,100 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in UMH PROPERTIES/SH SH during the second quarter worth $211,000. Hedge funds and other institutional investors own 60.16% of the company’s stock.

UMH stock traded up $0.04 during mid-day trading on Friday, reaching $13.68. The company had a trading volume of 62,422 shares, compared to its average volume of 181,164. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 2.59. The stock has a market capitalization of $551.47 million, a P/E ratio of 18.48, a P/E/G ratio of 2.02 and a beta of 0.62. UMH PROPERTIES/SH SH has a one year low of $11.14 and a one year high of $15.99. The stock’s 50-day simple moving average is $12.80 and its two-hundred day simple moving average is $13.24.



UMH PROPERTIES/SH SH (NYSE:UMH) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.32). The company had revenue of $37.23 million during the quarter, compared to the consensus estimate of $36.26 million. UMH PROPERTIES/SH SH had a negative net margin of 23.38% and a negative return on equity of 22.16%. On average, research analysts forecast that UMH PROPERTIES/SH SH will post 0.68 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date is Wednesday, August 14th. UMH PROPERTIES/SH SH’s payout ratio is 97.30%.

Several equities analysts recently issued reports on the company. Maxim Group set a $17.00 price objective on UMH PROPERTIES/SH SH and gave the stock a “buy” rating in a research note on Monday, August 12th. DA Davidson restated a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. Zacks Investment Research cut UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Compass Point assumed coverage on UMH PROPERTIES/SH SH in a research note on Monday, July 22nd. They set a “buy” rating and a $19.50 price objective on the stock. Finally, TheStreet cut UMH PROPERTIES/SH SH from a “c” rating to a “d+” rating in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. UMH PROPERTIES/SH SH currently has a consensus rating of “Buy” and an average price target of $17.40.

In other UMH PROPERTIES/SH SH news, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $11.86, for a total value of $94,880.00. Following the sale, the chairman now directly owns 603,555 shares in the company, valued at $7,158,162.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven B. Wolgin bought 2,500 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was bought at an average price of $11.80 per share, for a total transaction of $29,500.00. Following the completion of the purchase, the director now directly owns 34,441 shares of the company’s stock, valued at approximately $406,403.80. The disclosure for this purchase can be found here. Insiders acquired 23,535 shares of company stock worth $304,495 over the last quarter. 10.84% of the stock is currently owned by company insiders.

UMH PROPERTIES/SH SH Company Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

Read More: Certificate of Deposit (CD)

Want to see what other hedge funds are holding UMH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for UMH PROPERTIES/SH SH (NYSE:UMH).

Institutional Ownership by Quarter for UMH PROPERTIES/SH SH (NYSE:UMH)

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