Copeland Capital Management LLC Sells 191,716 Shares of UMH Properties, Inc. $UMH

Copeland Capital Management LLC decreased its stake in shares of UMH Properties, Inc. (NYSE:UMH) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,552,058 shares of the real estate investment trust’s stock after selling 191,716 shares during the quarter. Copeland Capital Management LLC’s holdings in UMH Properties were worth $42,849,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of UMH Properties by 1.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust’s stock worth $99,569,000 after acquiring an additional 73,196 shares during the last quarter. American Century Companies Inc. increased its stake in shares of UMH Properties by 0.5% during the 1st quarter. American Century Companies Inc. now owns 2,105,608 shares of the real estate investment trust’s stock worth $39,375,000 after purchasing an additional 10,602 shares during the last quarter. Northern Trust Corp increased its holdings in UMH Properties by 4.2% in the 1st quarter. Northern Trust Corp now owns 1,229,968 shares of the real estate investment trust’s stock worth $23,000,000 after acquiring an additional 49,040 shares during the last quarter. Nuveen LLC purchased a new stake in shares of UMH Properties in the first quarter worth about $19,209,000. Finally, D.A. Davidson & CO. boosted its position in shares of UMH Properties by 7.7% in the first quarter. D.A. Davidson & CO. now owns 985,112 shares of the real estate investment trust’s stock valued at $18,422,000 after acquiring an additional 70,695 shares during the period. 75.40% of the stock is owned by institutional investors.

Insider Transactions at UMH Properties

In other news, Director Angela D. Pruitt sold 1,600 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $16.06, for a total transaction of $25,696.00. Following the transaction, the director directly owned 9,905 shares in the company, valued at approximately $159,074.30. This represents a 13.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Landy acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The shares were purchased at an average cost of $14.46 per share, for a total transaction of $144,600.00. Following the completion of the acquisition, the director owned 362,052 shares in the company, valued at $5,235,271.92. This represents a 2.84% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 155,249 shares of company stock valued at $2,491,728 over the last quarter. 8.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

UMH has been the topic of a number of analyst reports. Wedbush raised shares of UMH Properties to a “hold” rating in a report on Wednesday, July 2nd. Cantor Fitzgerald initiated coverage on shares of UMH Properties in a report on Wednesday. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Wall Street Zen downgraded UMH Properties from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

UMH Properties Price Performance

UMH stock opened at $14.57 on Friday. The firm has a 50 day simple moving average of $15.60 and a two-hundred day simple moving average of $16.67. The stock has a market cap of $1.24 billion, a PE ratio of 104.05, a P/E/G ratio of 2.57 and a beta of 1.05. UMH Properties, Inc. has a one year low of $14.37 and a one year high of $20.42. The company has a debt-to-equity ratio of 1.08, a current ratio of 8.56 and a quick ratio of 8.56.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). UMH Properties had a net margin of 12.18% and a return on equity of 5.19%. The company had revenue of $66.64 million for the quarter, compared to analysts’ expectations of $66.07 million. On average, analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.90 annualized dividend and a yield of 6.2%. UMH Properties’s payout ratio is 642.86%.

UMH Properties 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.