UMH Properties, Inc. (NYSE:UMH) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in shares of UMH Properties, Inc. (NYSE:UMH) by 49.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,328 shares of the real estate investment trust’s stock after selling 23,718 shares during the period. Cornercap Investment Counsel Inc.’s holdings in UMH Properties were worth $479,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in UMH Properties in the 3rd quarter valued at about $26,000. EntryPoint Capital LLC raised its position in UMH Properties by 843.9% in the 1st quarter. EntryPoint Capital LLC now owns 2,020 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 1,806 shares in the last quarter. US Bancorp DE raised its position in UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,791 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in UMH Properties by 36.8% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 698 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of UMH Properties during the 2nd quarter worth about $71,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. The trade was a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.63% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UMH shares. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley raised their target price on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Wedbush raised their target price on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research 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 stock. According to data from MarketBeat.com, UMH Properties currently has an average rating of “Moderate Buy” and an average price target of $21.25.

UMH Properties Trading Down 0.8 %

UMH opened at $19.16 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 147.40, a price-to-earnings-growth ratio of 3.43 and a beta of 1.30. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The business’s 50 day moving average is $19.23 and its two-hundred day moving average is $17.74. UMH Properties, Inc. has a 52 week low of $13.91 and a 52 week high of $20.64.

UMH Properties (NYSE:UMH) last released its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The company had revenue of $60.67 million during the quarter, compared to analyst estimates of $61.57 million. During the same period in the previous year, the firm posted $0.22 EPS. On average, research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.215 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.49%. UMH Properties’s dividend payout ratio (DPR) is presently 661.59%.

UMH Properties Company 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.