Mirae Asset Global Investments Co. Ltd. Purchases 2,780 Shares of UMH Properties, Inc. (NYSE:UMH)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of UMH Properties, Inc. (NYSE:UMH) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,635 shares of the real estate investment trust’s stock after acquiring an additional 2,780 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in UMH Properties were worth $408,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. grew its stake in shares of UMH Properties by 29.5% during the third quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock worth $35,501,000 after purchasing an additional 576,304 shares during the period. Private Management Group Inc. grew its stake in shares of UMH Properties by 609.8% during the third quarter. Private Management Group Inc. now owns 1,036,353 shares of the real estate investment trust’s stock worth $14,530,000 after purchasing an additional 890,355 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of UMH Properties by 6.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 742,848 shares of the real estate investment trust’s stock worth $10,415,000 after purchasing an additional 46,291 shares during the period. Raymond James & Associates grew its stake in shares of UMH Properties by 10.1% during the fourth quarter. Raymond James & Associates now owns 664,868 shares of the real estate investment trust’s stock worth $10,186,000 after purchasing an additional 61,239 shares during the period. Finally, D.A. Davidson & CO. grew its stake in shares of UMH Properties by 6.1% during the third quarter. D.A. Davidson & CO. now owns 657,676 shares of the real estate investment trust’s stock worth $9,221,000 after purchasing an additional 37,909 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.

UMH Properties Stock Up 0.2 %

NYSE:UMH opened at $15.66 on Friday. UMH Properties, Inc. has a 1 year low of $13.26 and a 1 year high of $16.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -104.39, a PEG ratio of 2.81 and a beta of 1.24. The stock has a 50-day moving average price of $15.59 and a two-hundred day moving average price of $15.02.

UMH Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.215 per share. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. This represents a $0.86 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Tuesday, May 14th. UMH Properties’s dividend payout ratio is currently -546.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on UMH shares. Compass Point lifted their price objective on UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Thursday, March 21st. B. Riley initiated coverage on UMH Properties in a research note on Thursday, March 21st. They issued a “buy” rating and a $18.50 target price for the company. Wedbush reissued a “neutral” rating and issued a $17.00 target price on shares of UMH Properties in a research note on Monday, March 25th. Finally, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.00.

Insider Transactions at UMH Properties

In other news, COO Brett Taft sold 9,800 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total transaction of $155,918.00. Following the completion of the transaction, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.63% of the stock is owned by insiders.

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.