Jennison Associates LLC Sells 97,168 Shares of UMH Properties, Inc. (NYSE:UMH)

Jennison Associates LLC cut its holdings in shares of UMH Properties, Inc. (NYSE:UMH) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,300,603 shares of the real estate investment trust’s stock after selling 97,168 shares during the quarter. Jennison Associates LLC’s holdings in UMH Properties were worth $19,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UMH. Private Management Group Inc. lifted its position in UMH Properties by 609.8% during the 3rd quarter. Private Management Group Inc. now owns 1,036,353 shares of the real estate investment trust’s stock worth $14,530,000 after buying an additional 890,355 shares in the last quarter. American Century Companies Inc. lifted its position in UMH Properties by 29.5% during the 3rd 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 in the last quarter. Cerity Partners LLC bought a new stake in UMH Properties during the 4th quarter worth about $2,930,000. Knights of Columbus Asset Advisors LLC lifted its position in UMH Properties by 102.9% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 244,569 shares of the real estate investment trust’s stock worth $3,747,000 after buying an additional 124,019 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in UMH Properties by 49.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 374,805 shares of the real estate investment trust’s stock worth $5,255,000 after buying an additional 123,248 shares in the last quarter. 75.40% of the stock is owned by institutional investors.

Insider Activity at UMH Properties

In related news, COO Brett Taft sold 9,800 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the transaction, the chief operating officer now owns 97,049 shares in the company, valued at approximately $1,544,049.59. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.63% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on UMH. Wedbush reissued a “neutral” rating and set a $17.00 price target on shares of UMH Properties in a research report on Monday, March 25th. B. Riley initiated coverage on shares of UMH Properties in a research note on Thursday, March 21st. They set a “buy” rating and a $18.50 price objective on the stock. Compass Point boosted their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Finally, StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, UMH Properties has an average rating of “Hold” and an average target price of $19.00.

UMH Properties Stock Performance

Shares of UMH opened at $15.63 on Friday. UMH Properties, Inc. has a 52 week low of $13.26 and a 52 week high of $16.85. The firm’s 50-day simple moving average is $15.57 and its 200 day simple moving average is $15.01. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66.

UMH Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be paid a $0.215 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.86 dividend on an annualized basis and a yield of 5.50%. This is a positive change from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio is -546.63%.

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.