NJ State Employees Deferred Compensation Plan Makes New Investment in UMH PROPERTIES/SH SH (NYSE:UMH)

NJ State Employees Deferred Compensation Plan acquired a new position in shares of UMH PROPERTIES/SH SH (NYSE:UMH) during the third quarter, HoldingsChannel reports. The fund acquired 13,400 shares of the real estate investment trust’s stock, valued at approximately $189,000.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in UMH PROPERTIES/SH SH by 3.1% during the 2nd quarter. BlackRock Inc. now owns 2,700,858 shares of the real estate investment trust’s stock worth $33,518,000 after acquiring an additional 80,428 shares during the last quarter. FMR LLC grew its holdings in UMH PROPERTIES/SH SH by 197.8% during the 1st quarter. FMR LLC now owns 1,559,738 shares of the real estate investment trust’s stock worth $21,962,000 after acquiring an additional 1,035,919 shares during the last quarter. Investment Counselors of Maryland LLC grew its holdings in UMH PROPERTIES/SH SH by 12.8% during the 2nd 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 last quarter. Russell Investments Group Ltd. grew its holdings in UMH PROPERTIES/SH SH by 9.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 602,258 shares of the real estate investment trust’s stock worth $7,475,000 after acquiring an additional 52,301 shares during the last quarter. Finally, D.A. Davidson & CO. grew its holdings in UMH PROPERTIES/SH SH by 4.3% during the 2nd quarter. D.A. Davidson & CO. now owns 560,597 shares of the real estate investment trust’s stock worth $6,957,000 after acquiring an additional 23,184 shares during the last quarter. 60.16% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have commented on UMH. Compass Point initiated coverage on shares of UMH PROPERTIES/SH SH in a report on Monday, July 22nd. They set a “buy” rating and a $19.50 price objective on the stock. TheStreet raised shares of UMH PROPERTIES/SH SH from a “d+” rating to a “c-” rating in a research note on Thursday, October 3rd. Zacks Investment Research lowered shares of UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. DA Davidson reaffirmed a “buy” rating on shares of UMH PROPERTIES/SH SH in a research note on Monday, July 29th. Finally, Maxim Group set a $17.00 target price on shares of UMH PROPERTIES/SH SH and gave the company a “buy” rating in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. UMH PROPERTIES/SH SH presently has a consensus rating of “Buy” and a consensus target price of $17.40.

Shares of NYSE UMH traded up $0.23 during mid-day trading on Friday, hitting $14.76. The company’s stock had a trading volume of 101,370 shares, compared to its average volume of 134,252. The stock has a market cap of $587.47 million, a price-to-earnings ratio of 21.37, a price-to-earnings-growth ratio of 2.15 and a beta of 0.61. 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 one year low of $11.14 and a one year high of $14.88. The company’s fifty day simple moving average is $13.82 and its 200-day simple moving average is $13.31.

UMH PROPERTIES/SH SH (NYSE:UMH) last issued its earnings results on Thursday, August 8th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.32). The business 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, sell-side analysts predict that UMH PROPERTIES/SH SH will post 0.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Thursday, November 14th. UMH PROPERTIES/SH SH’s dividend payout ratio (DPR) is presently 97.30%.

In other UMH PROPERTIES/SH SH news, Director Steven B. Wolgin bought 2,500 shares of UMH PROPERTIES/SH SH stock in a transaction dated Wednesday, August 14th. The shares were bought at an average price of $11.80 per share, with a total value of $29,500.00. Following the purchase, the director now owns 34,441 shares of the company’s stock, valued at $406,403.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $11.86, for a total transaction of $94,880.00. Following the completion of the sale, the chairman now owns 603,555 shares in the company, valued at $7,158,162.30. The disclosure for this sale can be found here. Insiders bought a total of 22,072 shares of company stock worth $295,495 in the last ninety days. Insiders own 10.84% of the company’s stock.

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.

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

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