Cerity Partners LLC Invests $2.93 Million in UMH Properties, Inc. (NYSE:UMH)

Cerity Partners LLC acquired a new position in shares of UMH Properties, Inc. (NYSE:UMH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 191,234 shares of the real estate investment trust’s stock, valued at approximately $2,930,000. Cerity Partners LLC owned 0.29% of UMH Properties at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of UMH. Vanguard Group Inc. lifted its position in shares of 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 valued at $126,383,000 after acquiring an additional 264,005 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of UMH Properties by 22.9% in the second quarter. BlackRock Inc. now owns 4,759,328 shares of the real estate investment trust’s stock valued at $76,054,000 after purchasing an additional 886,892 shares in the last quarter. American Century Companies Inc. boosted its position in shares of UMH Properties by 29.5% in the third quarter. American Century Companies Inc. now owns 2,532,194 shares of the real estate investment trust’s stock worth $35,501,000 after buying an additional 576,304 shares during the period. State Street Corp grew its holdings in shares of UMH Properties by 5.1% during the second quarter. State Street Corp now owns 1,697,046 shares of the real estate investment trust’s stock valued at $27,119,000 after buying an additional 82,823 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in UMH Properties by 8.4% during the second quarter. Geode Capital Management LLC now owns 1,230,411 shares of the real estate investment trust’s stock valued at $19,662,000 after buying an additional 95,711 shares during the period. 75.40% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other UMH Properties news, COO Brett Taft sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total transaction of $155,918.00. Following the completion of the sale, the chief operating officer now owns 97,049 shares of the company’s stock, valued at $1,544,049.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.63% of the company’s stock.

UMH Properties Trading Down 0.2 %

Shares of UMH opened at $15.17 on Thursday. The company has a quick ratio of 6.52, a current ratio of 6.52 and a debt-to-equity ratio of 1.66. UMH Properties, Inc. has a twelve month low of $13.26 and a twelve month high of $16.85. The firm’s 50 day moving average price is $15.46 and its 200 day moving average price is $14.95.

UMH Properties Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be issued a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. This represents a $0.86 dividend on an annualized basis and a yield of 5.67%. UMH Properties’s dividend payout ratio is currently -546.63%.

Wall Street Analysts Forecast Growth

UMH has been the topic of several research analyst reports. Wedbush reaffirmed a “neutral” rating and set a $17.00 target price on shares of UMH Properties in a research note on Monday, March 25th. B. Riley initiated coverage on shares of UMH Properties in a research note on Thursday, March 21st. They issued a “buy” rating and a $18.50 price objective on the stock. Compass Point lifted their target price on shares of UMH Properties from $20.00 to $21.50 and gave the company a “buy” rating in a research note on Thursday, March 21st. Finally, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, UMH Properties presently has a consensus rating of “Hold” and a consensus target price of $19.00.

UMH Properties Company 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.