Oppenheimer & Co. Inc. bought a new position in shares of UMH Properties, Inc. (NYSE:UMH – Get Rating) in the 3rd quarter, Holdings Channel reports. The fund bought 13,171 shares of the real estate investment trust’s stock, valued at approximately $213,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of UMH Properties during the 1st quarter worth about $58,000. Federated Hermes Inc. boosted its holdings in shares of UMH Properties by 150.4% during the 1st quarter. Federated Hermes Inc. now owns 3,197 shares of the real estate investment trust’s stock worth $79,000 after buying an additional 1,920 shares during the period. Quantbot Technologies LP boosted its holdings in shares of UMH Properties by 1,600.0% during the 2nd quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 3,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of UMH Properties by 79.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,232 shares of the real estate investment trust’s stock worth $149,000 after buying an additional 4,074 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in UMH Properties in the 1st quarter valued at about $235,000. Institutional investors own 71.25% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on UMH shares. Wedbush cut their price objective on shares of UMH Properties from $27.50 to $21.00 in a report on Thursday, November 10th. Maxim Group cut their price objective on shares of UMH Properties from $28.00 to $22.00 in a report on Monday, November 14th. EF Hutton Acquisition Co. I started coverage on shares of UMH Properties in a report on Tuesday, December 13th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, B. Riley cut their price objective on shares of UMH Properties from $24.00 to $21.00 and set a “buy” rating for the company in a report on Friday, November 11th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, UMH Properties presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.75.
Insider Buying and Selling
UMH Properties Stock Performance
Shares of UMH Properties stock opened at $17.06 on Tuesday. The company has a 50 day moving average of $17.10 and a 200-day moving average of $17.28. UMH Properties, Inc. has a 1-year low of $15.14 and a 1-year high of $25.46. The company has a current ratio of 6.10, a quick ratio of 6.10 and a debt-to-equity ratio of 2.45. The company has a market cap of $950.92 million, a PE ratio of -33.45, a price-to-earnings-growth ratio of 3.70 and a beta of 1.29.
UMH Properties Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 15th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 4.81%. This is a boost from UMH Properties’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, February 14th. UMH Properties’s dividend payout ratio is currently -160.78%.
UMH Properties Profile
UMH Properties, Inc operates as a real estate investment trust. It engages in the ownership and operation of manufactured home communities in seven states throughout the northeast. These states include New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana and Michigan. Manufactured home communities provide long-term appreciation, recession resistant qualities, and stable income streams.
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