Arizona State Retirement System Grows Stock Holdings in UMH Properties, Inc. (NYSE:UMH)

Arizona State Retirement System lifted its position in shares of UMH Properties, Inc. (NYSE:UMH – Get Rating) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,761 shares of the real estate investment trust’s stock after buying an additional 757 shares during the quarter. Arizona State Retirement System’s holdings in UMH Properties were worth $238,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in UMH Properties by 45.1% in the 1st quarter. State Street Corp now owns 1,352,259 shares of the real estate investment trust’s stock worth $33,252,000 after purchasing an additional 420,618 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in UMH Properties in the 3rd quarter worth $5,653,000. Lazard Asset Management LLC lifted its stake in UMH Properties by 12,983.3% in the 1st quarter. Lazard Asset Management LLC now owns 318,710 shares of the real estate investment trust’s stock worth $7,836,000 after purchasing an additional 316,274 shares in the last quarter. Vanguard Group Inc. lifted its stake in UMH Properties by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 5,139,580 shares of the real estate investment trust’s stock worth $126,383,000 after purchasing an additional 264,005 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in UMH Properties by 5.1% in the 1st quarter. BlackRock Inc. now owns 3,392,153 shares of the real estate investment trust’s stock worth $83,412,000 after purchasing an additional 165,164 shares in the last quarter. Hedge funds and other institutional investors own 71.25% of the company’s stock.

UMH Properties Stock Performance

Shares of NYSE:UMH opened at $15.62 on Wednesday. The company has a market capitalization of $949.38 million, a price-to-earnings ratio of -23.31, a PEG ratio of 4.75 and a beta of 1.28. UMH Properties, Inc. has a 12 month low of $13.73 and a 12 month high of $21.46. The firm’s 50-day moving average is $14.98 and its 200 day moving average is $16.29. The company has a current ratio of 5.49, a quick ratio of 5.49 and a debt-to-equity ratio of 2.18.

UMH Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 15th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.82 annualized dividend and a yield of 5.25%. UMH Properties’s payout ratio is -122.39%.

Analyst Upgrades and Downgrades

UMH has been the topic of several research analyst reports. StockNews.com began coverage on shares of UMH Properties in a research note on Thursday, May 18th. They issued a “sell” rating on the stock. EF Hutton Acquisition Co. I restated a “buy” rating and issued a $21.00 target price on shares of UMH Properties in a report on Wednesday, March 1st. Finally, TheStreet upgraded shares of UMH Properties from a “d+” rating to a “c” rating in a report on Tuesday, February 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.75.

Insider Activity at UMH Properties

In other news, Director Michael P. Landy purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 14th. The shares were bought at an average cost of $14.80 per share, for a total transaction of $29,600.00. Following the acquisition, the director now owns 270,594 shares of the company’s stock, valued at approximately $4,004,791.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other UMH Properties news, Director Kiernan Conway sold 2,500 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $15.34, for a total value of $38,350.00. Following the transaction, the director now directly owns 492 shares in the company, valued at approximately $7,547.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael P. Landy bought 2,000 shares of the company’s stock in a transaction on Tuesday, March 14th. The stock was bought at an average price of $14.80 per share, for a total transaction of $29,600.00. Following the completion of the purchase, the director now directly owns 270,594 shares in the company, valued at $4,004,791.20. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 4,819 shares of company stock worth $78,527. Insiders own 9.09% of the company’s stock.

UMH Properties Profile

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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.