Private Management Group Inc. Increases Stake in UMH Properties, Inc. (NYSE:UMH)

Private Management Group Inc. lifted its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 27.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,316,789 shares of the real estate investment trust’s stock after buying an additional 280,436 shares during the quarter. Private Management Group Inc.’s holdings in UMH Properties were worth $20,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Spire Wealth Management boosted its stake in UMH Properties by 177.8% during the third quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock worth $47,000 after acquiring an additional 2,125 shares in the last quarter. International Assets Investment Management LLC boosted its stake in UMH Properties by 1,440.7% during the fourth quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 7,391 shares in the last quarter. Advisor Partners II LLC bought a new stake in UMH Properties during the third quarter worth about $145,000. Bfsg LLC bought a new stake in UMH Properties during the third quarter worth about $151,000. Finally, Wealthcare Advisory Partners LLC bought a new stake in UMH Properties during the third quarter worth about $161,000. Institutional investors own 75.40% of the company’s stock.

UMH Properties Stock Performance

UMH stock traded up $0.06 on Tuesday, hitting $15.60. The company had a trading volume of 176,115 shares, compared to its average volume of 363,417. UMH Properties, Inc. has a 12-month low of $13.26 and a 12-month high of $16.85. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. The stock’s 50-day simple moving average is $15.52 and its 200 day simple moving average is $15.00. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -103.96, a P/E/G ratio of 2.75 and a beta of 1.24.

UMH Properties Increases Dividend

The business also recently announced 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 represents a $0.86 annualized dividend and a yield of 5.51%. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s dividend payout ratio (DPR) is currently -546.63%.

Insider Buying and Selling

In related news, COO Brett Taft sold 9,800 shares of the firm’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the sale, the chief operating officer now owns 97,049 shares in the company, valued at $1,544,049.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.63% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented 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. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Wedbush reiterated a “neutral” rating and set a $17.00 price target on shares of UMH Properties in a report on Monday, March 25th. Finally, B. Riley started coverage on shares of UMH Properties in a report on Thursday, March 21st. They set a “buy” rating and a $18.50 price target on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.00.

About UMH Properties

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.