Geode Capital Management LLC Buys 59,705 Shares of UMH Properties, Inc. (NYSE:UMH)

Geode Capital Management LLC raised its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 3.6% in the third quarter, Holdings Channel reports. The institutional investor owned 1,703,794 shares of the real estate investment trust’s stock after buying an additional 59,705 shares during the quarter. Geode Capital Management LLC’s holdings in UMH Properties were worth $33,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Alaska Department of Revenue increased its holdings in UMH Properties by 2.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after acquiring an additional 663 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of UMH Properties by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 698 shares during the period. Arizona State Retirement System raised its position in shares of UMH Properties by 6.4% in the second quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock worth $295,000 after buying an additional 1,111 shares in the last quarter. Cornercap Investment Counsel Inc. boosted its stake in UMH Properties by 2.4% during the second quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock valued at $768,000 after buying an additional 1,124 shares during the period. Finally, Centiva Capital LP grew its position in UMH Properties by 4.0% during the third quarter. Centiva Capital LP now owns 31,428 shares of the real estate investment trust’s stock worth $618,000 after buying an additional 1,195 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors.

UMH Properties Stock Up 0.2 %

Shares of NYSE:UMH opened at $18.96 on Thursday. The firm has a fifty day moving average of $19.13 and a 200 day moving average of $18.47. UMH Properties, Inc. has a 52-week low of $14.09 and a 52-week high of $20.64. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The firm has a market capitalization of $1.50 billion, a PE ratio of 145.86, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). The firm had revenue of $60.67 million for the quarter, compared to the consensus estimate of $61.57 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. During the same quarter last year, the company posted $0.22 earnings per share. As a group, research analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were issued a $0.215 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.54%. UMH Properties’s payout ratio is 661.54%.

Insider Activity at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of UMH Properties stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the transaction, the director now owns 7,993 shares in the company, valued at approximately $153,945.18. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,845 shares of company stock valued at $1,051,210. Insiders own 8.63% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research report on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and an average price target 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.