Kiernan Conway Sells 1,045 Shares of UMH Properties, Inc. (NYSE:UMH) Stock

UMH Properties, Inc. (NYSE:UMH) Director Kiernan Conway sold 1,045 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $18.93, for a total value of $19,781.85. Following the completion of the transaction, the director now directly owns 142 shares of the company’s stock, valued at $2,688.06. This trade represents a 88.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

UMH Properties Stock Performance

NYSE:UMH traded up $0.04 during mid-day trading on Tuesday, reaching $19.00. The stock had a trading volume of 817,331 shares, compared to its average volume of 408,008. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The business has a 50 day simple moving average of $19.08 and a 200 day simple moving average of $18.02. UMH Properties, Inc. has a twelve month low of $14.09 and a twelve month high of $20.64. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 145.24, a PEG ratio of 3.40 and a beta of 1.29.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The company had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same period last year, the company earned $0.22 earnings per share. On average, analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.215 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.86 annualized dividend and a yield of 4.53%. UMH Properties’s dividend payout ratio is presently 661.59%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. B. Riley upped their target price on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. Wedbush upped their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.25.

Institutional Trading of UMH Properties

Several large investors have recently bought and sold shares of UMH. State Street Corp boosted its position in shares of UMH Properties by 44.5% in the 3rd quarter. State Street Corp now owns 2,802,604 shares of the real estate investment trust’s stock worth $55,127,000 after buying an additional 863,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of UMH Properties by 476.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 335,874 shares of the real estate investment trust’s stock valued at $6,607,000 after acquiring an additional 277,590 shares in the last quarter. Franklin Resources Inc. acquired a new stake in UMH Properties in the 3rd quarter valued at $4,421,000. Brookfield Corp ON acquired a new position in shares of UMH Properties during the third quarter worth about $4,331,000. Finally, Eagle Asset Management Inc. acquired a new stake in shares of UMH Properties in the third quarter valued at about $3,513,000. Institutional investors and hedge funds own 75.40% of the company’s stock.

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.