Insider Selling: UMH Properties, Inc. (NYSE:UMH) Director Sells $52,758.00 in Stock

UMH Properties, Inc. (NYSE:UMH) Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the completion of the transaction, the director now directly owns 412 shares of the company’s stock, valued at $8,050.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

UMH Properties Stock Up 0.3 %

Shares of UMH stock opened at $19.40 on Friday. UMH Properties, Inc. has a 12 month low of $13.26 and a 12 month high of $19.70. The stock has a market cap of $1.43 billion, a P/E ratio of -129.32, a P/E/G ratio of 3.56 and a beta of 1.29. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. The company has a 50 day simple moving average of $17.01 and a two-hundred day simple moving average of $16.00.

UMH Properties (NYSE:UMH) last announced its earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The business had revenue of $60.33 million for the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. During the same period in the prior year, the company posted $0.21 earnings per share. On average, research analysts expect that UMH Properties, Inc. will post 0.92 earnings per share for the current year.

UMH Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.43%. UMH Properties’s payout ratio is currently -573.30%.

Hedge Funds Weigh In On UMH Properties

A number of hedge funds have recently modified their holdings of UMH. SRS Capital Advisors Inc. boosted its position in shares of UMH Properties by 382.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,711 shares during the period. EntryPoint Capital LLC boosted its position in shares of UMH Properties by 843.9% in the first quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,806 shares during the period. Ridgewood Investments LLC bought a new position in shares of UMH Properties in the second quarter worth approximately $71,000. Quadrant Capital Group LLC boosted its position in shares of UMH Properties by 52.7% in the fourth quarter. Quadrant Capital Group LLC now owns 5,379 shares of the real estate investment trust’s stock worth $82,000 after purchasing an additional 1,856 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of UMH Properties by 1,440.7% in the fourth quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 7,391 shares during the period. 75.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UMH shares. Alliance Global Partners started coverage on shares of UMH Properties in a report on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective for the company. B. Riley boosted their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. William Blair reissued a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Finally, Wedbush boosted their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, UMH Properties has an average rating of “Moderate Buy” and a consensus target price of $21.25.

About UMH Properties

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.