Copeland Capital Management LLC Sells 84,695 Shares of UMH Properties, Inc. (NYSE:UMH)

Copeland Capital Management LLC reduced its position in UMH Properties, Inc. (NYSE:UMH) by 3.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,743,774 shares of the real estate investment trust’s stock after selling 84,695 shares during the quarter. Copeland Capital Management LLC’s holdings in UMH Properties were worth $51,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of UMH Properties by 11.9% during the fourth quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust’s stock valued at $141,722,000 after acquiring an additional 799,798 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of UMH Properties by 1.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 5,251,335 shares of the real estate investment trust’s stock valued at $99,146,000 after acquiring an additional 57,547 shares during the period. Capital Research Global Investors lifted its holdings in shares of UMH Properties by 124.5% during the fourth quarter. Capital Research Global Investors now owns 4,031,849 shares of the real estate investment trust’s stock valued at $76,121,000 after acquiring an additional 2,236,080 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of UMH Properties by 2.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,992,420 shares of the real estate investment trust’s stock valued at $37,617,000 after acquiring an additional 48,480 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of UMH Properties by 7.9% during the fourth quarter. Geode Capital Management LLC now owns 1,838,555 shares of the real estate investment trust’s stock valued at $34,719,000 after acquiring an additional 134,761 shares during the period. 75.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on UMH. Maxim Group cut their price objective on UMH Properties from $22.00 to $20.50 and set a “buy” rating for the company in a report on Monday, May 5th. Wall Street Zen raised UMH Properties from a “sell” rating to a “hold” rating in a report on Friday, June 6th. Finally, B. Riley reissued a “buy” rating on shares of UMH Properties in a report on Tuesday, May 13th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $21.00.

Insider Activity

In related news, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the sale, the chief executive officer now directly owns 1,140,265 shares in the company, valued at $19,236,270.55. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Edward Mitchell sold 70,852 shares of UMH Properties stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $17.20, for a total value of $1,218,654.40. Following the completion of the sale, the director now owns 215,427 shares of the company’s stock, valued at approximately $3,705,344.40. The trade was a 24.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 160,826 shares of company stock worth $2,745,314. 8.77% of the stock is owned by corporate insiders.

UMH Properties Stock Performance

Shares of NYSE:UMH opened at $16.73 on Friday. UMH Properties, Inc. has a twelve month low of $15.49 and a twelve month high of $20.64. The firm has a market cap of $1.41 billion, a PE ratio of 139.40, a price-to-earnings-growth ratio of 2.81 and a beta of 1.12. The company has a debt-to-equity ratio of 1.02, a quick ratio of 6.98 and a current ratio of 6.98. The business has a fifty day moving average of $17.03 and a 200-day moving average of $17.79.

UMH Properties (NYSE:UMH) last announced its earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. The company had revenue of $61.23 million during the quarter, compared to analyst estimates of $62.82 million. On average, equities research analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Thursday, May 15th were paid a $0.225 dividend. The ex-dividend date was Thursday, May 15th. This is a positive change from UMH Properties’s previous quarterly dividend of $0.22. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.38%. UMH Properties’s dividend payout ratio (DPR) is 750.00%.

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.