Pacific Heights Asset Management LLC Grows Stock Holdings in UMH Properties, Inc. $UMH

Pacific Heights Asset Management LLC lifted its position in UMH Properties, Inc. (NYSE:UMH) by 60.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 400,000 shares of the real estate investment trust’s stock after purchasing an additional 150,000 shares during the quarter. Pacific Heights Asset Management LLC owned about 0.47% of UMH Properties worth $5,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its holdings in shares of UMH Properties by 13.5% in the second quarter. American Century Companies Inc. now owns 2,389,308 shares of the real estate investment trust’s stock valued at $40,116,000 after purchasing an additional 283,700 shares in the last quarter. Geode Capital Management LLC grew its position in shares of UMH Properties by 5.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,999,240 shares of the real estate investment trust’s stock valued at $33,571,000 after buying an additional 103,446 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of UMH Properties by 10.9% in the 2nd quarter. Jennison Associates LLC now owns 1,536,362 shares of the real estate investment trust’s stock valued at $25,796,000 after purchasing an additional 150,718 shares during the last quarter. D.A. Davidson & CO. lifted its stake in UMH Properties by 35.7% in the third quarter. D.A. Davidson & CO. now owns 1,470,755 shares of the real estate investment trust’s stock valued at $21,841,000 after buying an additional 387,021 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in UMH Properties by 8.3% during the 2nd quarter. Bank of America Corp DE now owns 1,189,252 shares of the real estate investment trust’s stock worth $19,968,000 after purchasing an additional 91,202 shares during the period. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Insider Activity at UMH Properties

In related news, Director William Edward Mitchell bought 2,000 shares of the business’s stock in a transaction dated Monday, November 24th. The shares were bought at an average cost of $14.92 per share, with a total value of $29,840.00. Following the completion of the transaction, the director directly owned 28,737 shares of the company’s stock, valued at approximately $428,756.04. This trade represents a 7.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 8.77% of the stock is owned by insiders.

UMH Properties Stock Performance

Shares of UMH opened at $16.59 on Tuesday. UMH Properties, Inc. has a 12-month low of $13.95 and a 12-month high of $19.14. The business’s fifty day moving average price is $15.62 and its 200 day moving average price is $15.55. The company has a debt-to-equity ratio of 0.99, a current ratio of 6.86 and a quick ratio of 6.86. The stock has a market capitalization of $1.41 billion, a PE ratio of 207.34, a price-to-earnings-growth ratio of 2.77 and a beta of 1.09.

UMH Properties (NYSE:UMH) last released its quarterly earnings data on Monday, November 3rd. The real estate investment trust reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The business had revenue of $66.92 million for the quarter, compared to analysts’ expectations of $68.70 million. UMH Properties had a net margin of 10.47% and a return on equity of 4.47%. Equities research analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on UMH shares. B. Riley cut their price target on shares of UMH Properties from $19.00 to $18.50 and set a “buy” rating for the company in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, October 8th. Cantor Fitzgerald restated a “neutral” rating and issued a $16.00 target price on shares of UMH Properties in a report on Monday, January 5th. Finally, Colliers Securities upgraded UMH Properties to a “buy” rating in a report on Thursday, December 4th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, UMH Properties currently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

UMH Properties Company Profile

UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company’s business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.

The company generates revenue through rental lot fees, home sales and related community services.