Sumitomo Mitsui Trust Holdings Inc. Increases Holdings in UMH Properties, Inc. (NYSE:UMH)

Sumitomo Mitsui Trust Holdings Inc. increased its position in UMH Properties, Inc. (NYSE:UMHGet Rating) by 7.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,253 shares of the real estate investment trust’s stock after buying an additional 4,148 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.11% of UMH Properties worth $1,005,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Silver Lake Advisory LLC lifted its position in shares of UMH Properties by 0.6% in the third quarter. Silver Lake Advisory LLC now owns 104,135 shares of the real estate investment trust’s stock worth $1,682,000 after buying an additional 668 shares in the last quarter. Rhumbline Advisers lifted its position in shares of UMH Properties by 1.3% in the first quarter. Rhumbline Advisers now owns 53,796 shares of the real estate investment trust’s stock worth $1,323,000 after buying an additional 702 shares in the last quarter. Citigroup Inc. lifted its position in shares of UMH Properties by 7.7% in the first quarter. Citigroup Inc. now owns 12,773 shares of the real estate investment trust’s stock worth $314,000 after buying an additional 911 shares in the last quarter. Bank of America Corp DE lifted its position in shares of UMH Properties by 3.8% in the first quarter. Bank of America Corp DE now owns 26,086 shares of the real estate investment trust’s stock worth $641,000 after buying an additional 966 shares in the last quarter. Finally, LPL Financial LLC lifted its position in shares of UMH Properties by 10.7% in the second quarter. LPL Financial LLC now owns 11,974 shares of the real estate investment trust’s stock worth $211,000 after buying an additional 1,157 shares in the last quarter. 71.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Matthew I. Hirsch acquired 1,750 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The shares were bought at an average price of $15.97 per share, with a total value of $27,947.50. Following the completion of the purchase, the director now directly owns 39,298 shares in the company, valued at $627,589.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Matthew I. Hirsch acquired 3,207 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were bought at an average price of $15.57 per share, with a total value of $49,932.99. Following the completion of the purchase, the director now directly owns 37,099 shares in the company, valued at $577,631.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew I. Hirsch acquired 1,750 shares of the company’s stock in a transaction that occurred on Thursday, January 5th. The stock was purchased at an average cost of $15.97 per share, for a total transaction of $27,947.50. Following the purchase, the director now owns 39,298 shares of the company’s stock, valued at $627,589.06. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 5,141 shares of company stock valued at $80,875. 10.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

UMH has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on UMH Properties in a research report on Wednesday, October 12th. They issued an “outperform” rating and a $19.00 target price on the stock. Maxim Group reduced their price objective on UMH Properties from $28.00 to $22.00 in a research note on Monday, November 14th. B. Riley reduced their price objective on UMH Properties from $24.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, November 11th. EF Hutton Acquisition Co. I assumed coverage on UMH Properties in a research note on Tuesday, December 13th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Wedbush reduced their price objective on UMH Properties from $27.50 to $21.00 in a research note on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.36.

UMH Properties Trading Up 4.2 %

UMH opened at $16.47 on Monday. The stock has a market cap of $917.96 million, a price-to-earnings ratio of -32.29, a P/E/G ratio of 3.57 and a beta of 1.23. The stock’s 50 day moving average price is $16.96 and its 200-day moving average price is $17.73. UMH Properties, Inc. has a one year low of $15.14 and a one year high of $25.55. The company has a debt-to-equity ratio of 2.45, a quick ratio of 6.10 and a current ratio of 6.10.

UMH Properties Company Profile

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UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.

See Also

Institutional Ownership by Quarter for UMH Properties (NYSE:UMH)

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