UMH Properties (NYSE:UMH) Stock: Insider William Edward Mitchell Buys 1,300 Shares

UMH Properties, Inc. (NYSE:UMH) Director William Mitchell purchased 1,300 shares of UMH Properties stock in a transaction on Wednesday, November 4th. The shares were acquired at an average price of $15.06 per share, for a total transaction of $19,578.00. Following the completion of the transaction, the director directly owned 38,682 shares of the company’s stock, valued at approximately $582,550.92. The trade was a 3.48% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

William Edward Mitchell also recently made the following trade(s):

• On Thursday, October 15th, William Mitchell purchased 68 shares of UMH Properties stock. The shares were acquired at an average cost of $14.62 per share, for a total transaction of $994.16.
• On Friday, September 25th, William Mitchell purchased 1,300 shares of UMH Properties stock. The shares were bought at an average price of $15.30 per share, for a total transaction of $19,890.00.
• On Tuesday, September 15th, William Mitchell purchased 67 shares of UMH Properties stock. The stock was purchased at an average cost of $14.88 per share, for a total transaction of $996.96.
• On Monday, August 17th, William Mitchell bought 64 shares of UMH Properties stock. The shares were acquired at an average cost of $15.62 per share, for a total transaction of $999.68.

UMH Properties Stock Down 1.9%

UMH stock opened at $15.17 on Friday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 6.90 and a current ratio of 6.83. UMH Properties, Inc. has a fifty-two week low of $13.93 and a fifty-two week high of $16.77. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 303.40 and a beta of 0.99. The business’s 50 day moving average price is $15.50 and its two-hundred day moving average price is $15.45.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Monday, November 2nd. The real estate investment trust reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.06). The company had revenue of $74.14 million during the quarter, compared to the consensus estimate of $62.23 million. UMH Properties had a return on equity of 4.47% and a net margin of 9.04%. As a group, analysts forecast that UMH Properties, Inc. will post 0.99 earnings per share for the current fiscal year.

UMH Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a $0.2250 dividend. This represents a $0.90 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Monday, November 16th. UMH Properties’s payout ratio is 750.00%.

Institutional Trading of UMH Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of UMH Properties during the second quarter worth $127,139,000. D.A. Davidson & CO. raised its holdings in UMH Properties by 28.5% in the 3rd quarter. D.A. Davidson & CO. now owns 2,497,888 shares of the real estate investment trust’s stock valued at $38,467,000 after acquiring an additional 554,750 shares during the last quarter. Private Management Group Inc. raised its holdings in UMH Properties by 3.0% in the 3rd quarter. Private Management Group Inc. now owns 2,029,206 shares of the real estate investment trust’s stock valued at $31,250,000 after acquiring an additional 58,510 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in UMH Properties by 3.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,175,769 shares of the real estate investment trust’s stock worth $16,966,000 after purchasing an additional 42,964 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in UMH Properties in the 2nd quarter worth approximately $15,655,000. 75.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UMH has been the topic of several research reports. Odeon Capital Group set a $17.50 target price on UMH Properties in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of UMH Properties in a research report on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, UMH Properties currently has an average rating of “Moderate Buy” and an average price target of $17.25.

About UMH Properties

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