Cornerstone Investment Partners LLC Invests $197,000 in UMH Properties, Inc. (NYSE:UMH)

Cornerstone Investment Partners LLC bought a new stake in shares of UMH Properties, Inc. (NYSE:UMH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,419 shares of the real estate investment trust’s stock, valued at approximately $197,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new stake in UMH Properties in the fourth quarter worth about $38,000. Loomis Sayles & Co. L P raised its position in shares of UMH Properties by 2,760.0% in the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,346 shares in the last quarter. US Bancorp DE lifted its stake in shares of UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,791 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of UMH Properties by 36.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 698 shares in the last quarter. Finally, Quarry LP grew its stake in UMH Properties by 904.5% in the third quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock worth $75,000 after purchasing an additional 3,419 shares during the period. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wedbush reissued a “neutral” rating and set a $20.00 price target on shares of UMH Properties in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.25.

UMH Properties Trading Down 0.7 %

UMH Properties stock opened at $18.68 on Wednesday. UMH Properties, Inc. has a 12 month low of $14.73 and a 12 month high of $20.64. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 143.67, a price-to-earnings-growth ratio of 2.93 and a beta of 1.28. The business’s fifty day simple moving average is $18.24 and its two-hundred day simple moving average is $18.90. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The firm had revenue of ($126.74) million during the quarter, compared to analyst estimates of $59.73 million. As a group, equities analysts predict that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Tuesday, February 18th. UMH Properties’s payout ratio is 2,866.67%.

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.