Summit Global Investments Invests $258,000 in UMH Properties, Inc. (NYSE:UMH)

Summit Global Investments bought a new stake in shares of UMH Properties, Inc. (NYSE:UMH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,677 shares of the real estate investment trust’s stock, valued at approximately $258,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. bought a new position in shares of UMH Properties during the 3rd quarter valued at approximately $675,000. Barclays PLC increased its position in UMH Properties by 101.1% during the third quarter. Barclays PLC now owns 160,406 shares of the real estate investment trust’s stock valued at $3,155,000 after acquiring an additional 80,660 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of UMH Properties by 6.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 940,792 shares of the real estate investment trust’s stock valued at $18,505,000 after acquiring an additional 56,662 shares during the period. State Street Corp lifted its holdings in shares of UMH Properties by 44.5% in the 3rd quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock worth $55,127,000 after acquiring an additional 863,089 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of UMH Properties by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,703,794 shares of the real estate investment trust’s stock worth $33,520,000 after purchasing an additional 59,705 shares during the period. Institutional investors own 75.40% of the company’s stock.

UMH Properties Price Performance

Shares of UMH stock opened at $18.34 on Wednesday. The company’s 50-day simple moving average is $18.17 and its two-hundred day simple moving average is $18.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties, Inc. has a one year low of $14.73 and a one year high of $20.64. The company has a market capitalization of $1.51 billion, a P/E ratio of 141.09, a P/E/G ratio of 2.93 and a beta of 1.29.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.21. The company had revenue of ($126.74) million for the quarter, compared to analysts’ expectations of $59.73 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. As a group, equities analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, February 18th were issued a $0.215 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.86 annualized dividend and a dividend yield of 4.69%. UMH Properties’s payout ratio is currently 2,866.67%.

Analyst Ratings Changes

A number of analysts recently weighed in on UMH shares. StockNews.com lowered shares of UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of UMH Properties in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $21.17.

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.