McIlrath & Eck LLC Sells 103,280 Shares of UMH Properties, Inc. $UMH

McIlrath & Eck LLC cut its holdings in UMH Properties, Inc. (NYSE:UMH) by 42.8% during the 1st quarter, HoldingsChannel reports. The fund owned 137,878 shares of the real estate investment trust’s stock after selling 103,280 shares during the quarter. McIlrath & Eck LLC’s holdings in UMH Properties were worth $1,990,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. TABR Capital Management LLC purchased a new stake in shares of UMH Properties during the 4th quarter worth $1,772,000. D.A. Davidson & CO. grew its stake in UMH Properties by 4.2% in the first quarter. D.A. Davidson & CO. now owns 1,771,311 shares of the real estate investment trust’s stock valued at $25,560,000 after purchasing an additional 71,015 shares during the last quarter. Legal & General Group Plc raised its holdings in UMH Properties by 13.1% in the fourth quarter. Legal & General Group Plc now owns 395,578 shares of the real estate investment trust’s stock worth $6,294,000 after purchasing an additional 45,735 shares in the last quarter. Vanguard Group Inc. raised its holdings in UMH Properties by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 8,128,983 shares of the real estate investment trust’s stock worth $129,332,000 after purchasing an additional 144,368 shares in the last quarter. Finally, Private Management Group Inc. lifted its position in shares of UMH Properties by 9.6% during the fourth quarter. Private Management Group Inc. now owns 1,842,229 shares of the real estate investment trust’s stock valued at $29,310,000 after buying an additional 162,049 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UMH shares. Wall Street Zen upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings upgraded shares of UMH Properties from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Finally, Odeon Capital Group set a $17.50 target price on shares of UMH Properties in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, UMH Properties currently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

UMH Properties Stock Down 2.9%

UMH Properties stock opened at $15.30 on Friday. UMH Properties, Inc. has a 1-year low of $13.93 and a 1-year high of $16.98. The business has a fifty day moving average price of $15.31 and a 200-day moving average price of $15.38. The company has a debt-to-equity ratio of 1.20, a current ratio of 6.97 and a quick ratio of 6.97. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 152.97 and a beta of 0.96.

UMH Properties (NYSE:UMH) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. UMH Properties had a return on equity of 4.96% and a net margin of 11.03%.The company had revenue of $65.84 million for the quarter, compared to analyst estimates of $59.35 million. Equities research analysts forecast that UMH Properties, Inc. will post 0.99 EPS for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.225 per share. The ex-dividend date is Monday, August 17th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 5.9%. UMH Properties’s payout ratio is presently 900.00%.

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.