Teachers Insurance & Annuity Association of America cut its stake in UMH PROPERTIES/SH SH (NYSE:UMH) by 33.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 31,221 shares of the real estate investment trust’s stock after selling 15,374 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in UMH PROPERTIES/SH SH were worth $439,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of UMH PROPERTIES/SH SH in the fourth quarter valued at approximately $33,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of UMH PROPERTIES/SH SH by 114.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,937 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 1,569 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of UMH PROPERTIES/SH SH in the fourth quarter valued at approximately $52,000. Daiwa Securities Group Inc. grew its position in shares of UMH PROPERTIES/SH SH by 32.6% in the first quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in UMH PROPERTIES/SH SH by 44.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,945 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 1,816 shares during the last quarter. Institutional investors and hedge funds own 55.17% of the company’s stock.
A number of equities analysts have weighed in on UMH shares. Zacks Investment Research downgraded shares of UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research note on Saturday. Boenning Scattergood restated a “buy” rating and set a $19.50 price target on shares of UMH PROPERTIES/SH SH in a research report on Monday, March 11th.
Shares of NYSE UMH traded down $0.05 during midday trading on Tuesday, reaching $13.15. The company’s stock had a trading volume of 3,578 shares, compared to its average volume of 159,044. The company has a debt-to-equity ratio of 3.05, a current ratio of 2.73 and a quick ratio of 2.73. UMH PROPERTIES/SH SH has a one year low of $11.14 and a one year high of $16.69. The company has a market capitalization of $524.30 million, a P/E ratio of 17.76, a PEG ratio of 1.84 and a beta of 0.74.
UMH PROPERTIES/SH SH (NYSE:UMH) last released its earnings results on Thursday, May 2nd. The real estate investment trust reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). UMH PROPERTIES/SH SH had a negative return on equity of 11.83% and a negative net margin of 13.68%. The business had revenue of $34.29 million during the quarter, compared to the consensus estimate of $34.67 million. On average, analysts anticipate that UMH PROPERTIES/SH SH will post 0.72 earnings per share for the current year.
The firm 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 $0.18 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.48%. UMH PROPERTIES/SH SH’s payout ratio is currently 97.30%.
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UMH PROPERTIES/SH SH Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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