Pacific Heights Asset Management LLC Acquires 150,000 Shares of UMH Properties, Inc. $UMH

Pacific Heights Asset Management LLC increased its holdings in shares of UMH Properties, Inc. (NYSE:UMH) by 60.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 400,000 shares of the real estate investment trust’s stock after purchasing an additional 150,000 shares during the period. Pacific Heights Asset Management LLC’s holdings in UMH Properties were worth $5,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Bailard Inc. increased its holdings in UMH Properties by 162.9% in the 2nd quarter. Bailard Inc. now owns 44,700 shares of the real estate investment trust’s stock valued at $751,000 after buying an additional 27,700 shares during the period. Ulland Investment Advisors LLC lifted its position in shares of UMH Properties by 220.6% during the 2nd quarter. Ulland Investment Advisors LLC now owns 28,915 shares of the real estate investment trust’s stock worth $485,000 after buying an additional 19,895 shares during the period. State of Alaska Department of Revenue boosted its stake in UMH Properties by 9.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 37,849 shares of the real estate investment trust’s stock valued at $634,000 after buying an additional 3,153 shares in the last quarter. Geode Capital Management LLC grew its position in UMH Properties by 5.5% in the second 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 acquiring an additional 103,446 shares during the period. Finally, AlphaCore Capital LLC bought a new stake in UMH Properties in the second quarter valued at $90,000. 75.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at UMH Properties

In related news, Director William Edward Mitchell purchased 2,000 shares of the stock in a transaction dated Monday, November 24th. The stock was bought at an average cost of $14.92 per share, for a total transaction of $29,840.00. Following the completion of the acquisition, the director owned 28,737 shares of the company’s stock, valued at approximately $428,756.04. This represents a 7.48% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.77% of the company’s stock.

UMH Properties Trading Up 1.0%

Shares of UMH opened at $16.59 on Tuesday. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of 207.34, a PEG ratio of 2.77 and a beta of 1.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 6.86 and a current ratio of 6.86. UMH Properties, Inc. has a 52-week low of $13.95 and a 52-week high of $19.14. The business’s fifty day moving average is $15.62 and its 200-day moving average is $15.55.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Monday, November 3rd. The real estate investment trust reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $66.92 million for the quarter, compared to analyst estimates of $68.70 million. UMH Properties had a net margin of 10.47% and a return on equity of 4.47%. Equities analysts anticipate that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

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.