Vestcor Inc Acquires 11,104 Shares of UMH Properties, Inc. (NYSE:UMH)

Vestcor Inc lifted its holdings in UMH Properties, Inc. (NYSE:UMH) by 19.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,977 shares of the real estate investment trust’s stock after buying an additional 11,104 shares during the quarter. Vestcor Inc owned about 0.09% of UMH Properties worth $1,283,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of UMH Properties by 1,011.1% in the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,456 shares during the last quarter. Golden State Wealth Management LLC bought a new position in UMH Properties in the 4th quarter worth approximately $38,000. Loomis Sayles & Co. L P lifted its holdings in UMH Properties by 2,760.0% during 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 buying an additional 2,346 shares in the last quarter. US Bancorp DE boosted its position in 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 buying an additional 1,791 shares during the last quarter. Finally, Quarry LP boosted its position in UMH Properties by 904.5% in the 3rd quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 3,419 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Wedbush reissued a “neutral” rating and set a $20.00 price objective on shares of UMH Properties in a 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 assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.25.

UMH Properties Stock Up 1.8 %

Shares of UMH Properties stock opened at $18.03 on Friday. The business has a fifty day simple moving average of $18.13 and a 200 day simple moving average of $18.84. The stock has a market cap of $1.49 billion, a PE ratio of 138.68, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties, Inc. has a 12 month low of $14.73 and a 12 month high of $20.64.

UMH Properties (NYSE:UMH) last posted its 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. The company had revenue of ($126.74) million during the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. Research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Tuesday, February 18th will be paid a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 4.77%. The ex-dividend date is Tuesday, February 18th. UMH Properties’s payout ratio is presently 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.