Royal Bank of Canada Lowers Stock Holdings in UMH PROPERTIES/SH SH (NYSE:UMH)

Royal Bank of Canada lowered its holdings in shares of UMH PROPERTIES/SH SH (NYSE:UMH) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 397,711 shares of the real estate investment trust’s stock after selling 67,160 shares during the quarter. Royal Bank of Canada owned approximately 0.98% of UMH PROPERTIES/SH SH worth $4,935,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its holdings in shares of UMH PROPERTIES/SH SH by 197.8% in the first quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock valued at $21,962,000 after purchasing an additional 1,035,919 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in UMH PROPERTIES/SH SH in the first quarter worth approximately $2,431,000. Nuveen Asset Management LLC purchased a new position in UMH PROPERTIES/SH SH in the second quarter worth approximately $2,340,000. Investment Counselors of Maryland LLC grew its position in UMH PROPERTIES/SH SH by 12.8% in the second quarter. Investment Counselors of Maryland LLC now owns 1,297,559 shares of the real estate investment trust’s stock worth $16,103,000 after acquiring an additional 147,083 shares during the period. Finally, Foundry Partners LLC grew its position in UMH PROPERTIES/SH SH by 58.6% in the second quarter. Foundry Partners LLC now owns 343,250 shares of the real estate investment trust’s stock worth $4,260,000 after acquiring an additional 126,788 shares during the period. Institutional investors own 60.19% of the company’s stock.

UMH PROPERTIES/SH SH stock opened at $14.22 on Friday. The stock’s fifty day moving average is $13.56 and its two-hundred day moving average is $13.30. The company has a debt-to-equity ratio of 2.59, a current ratio of 3.05 and a quick ratio of 3.05. UMH PROPERTIES/SH SH has a 1-year low of $11.14 and a 1-year high of $15.10. The stock has a market cap of $576.96 million, a PE ratio of 20.99, a P/E/G ratio of 2.11 and a beta of 0.61.



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

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Thursday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is 97.30%.

In other news, Director Steven B. Wolgin purchased 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average price of $11.80 per share, with a total value of $29,500.00. Following the purchase, the director now directly owns 34,441 shares of the company’s stock, valued at $406,403.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction that occurred 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 approximately $7,158,162.30. The disclosure for this sale can be found here. Insiders have bought a total of 22,082 shares of company stock worth $295,496 in the last three months. Corporate insiders own 10.84% of the company’s stock.

Several research analysts recently weighed in 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 report on Monday, August 12th. TheStreet upgraded UMH PROPERTIES/SH SH from a “d+” rating to a “c-” rating in a research report on Thursday, October 3rd. Zacks Investment Research lowered UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research report on Friday. Compass Point began coverage on UMH PROPERTIES/SH SH in a research report on Monday, July 22nd. They set a “buy” rating and a $19.50 price target for the company. Finally, DA Davidson restated a “buy” rating on shares of UMH PROPERTIES/SH SH in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.40.

About UMH PROPERTIES/SH SH

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.

Further Reading: SEC Filing

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

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