Van ECK Associates Corp Buys New Shares in UMH Properties, Inc. (NYSE:UMH)

Van ECK Associates Corp bought a new stake in UMH Properties, Inc. (NYSE:UMH) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 11,140 shares of the real estate investment trust’s stock, valued at approximately $214,000.

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

UMH Properties Stock Up 1.9 %

UMH Properties stock opened at $19.76 on Thursday. UMH Properties, Inc. has a fifty-two week low of $13.91 and a fifty-two 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 company has a market capitalization of $1.56 billion, a P/E ratio of 151.97, a PEG ratio of 3.52 and a beta of 1.30. The stock has a 50-day simple moving average of $19.24 and a 200-day simple moving average of $17.70.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). The company had revenue of $60.67 million during the quarter, compared to analyst estimates 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 firm earned $0.22 EPS. Equities research analysts expect that UMH Properties, Inc. will post 0.92 earnings per share for the current year.

UMH Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties’s dividend payout ratio (DPR) is presently 661.59%.

Insider Activity at UMH Properties

In related news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total value of $977,500.00. Following the transaction, the chief executive officer now owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.63% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on UMH. B. Riley lifted their price target on UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a report on Thursday, August 15th. Wedbush lifted their price target on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com downgraded UMH Properties from a “hold” rating to a “sell” rating in a report on Friday, November 8th. Finally, Alliance Global Partners started coverage on UMH Properties in a report on Thursday, July 18th. They issued a “buy” rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, UMH Properties currently has a consensus rating of “Hold” and an average target price of $21.25.

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.