Cadence Capital Management LLC lifted its stake in shares of UMH PROPERTIES/SH SH (NYSE:UMH) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 265,116 shares of the real estate investment trust’s stock after purchasing an additional 27,102 shares during the period. Cadence Capital Management LLC’s holdings in UMH PROPERTIES/SH SH were worth $3,733,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Wedbush Securities Inc. raised its stake in UMH PROPERTIES/SH SH by 1.2% during the first quarter. Wedbush Securities Inc. now owns 94,496 shares of the real estate investment trust’s stock worth $1,330,000 after acquiring an additional 1,142 shares during the period. Daiwa Securities Group Inc. raised its stake in UMH PROPERTIES/SH SH by 32.6% during the first quarter. Daiwa Securities Group Inc. now owns 5,700 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 1,400 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in UMH PROPERTIES/SH SH by 114.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,937 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 1,569 shares during the period. Legal & General Group Plc raised its stake in UMH PROPERTIES/SH SH by 32.0% during the fourth quarter. Legal & General Group Plc now owns 6,547 shares of the real estate investment trust’s stock worth $78,000 after acquiring an additional 1,589 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in UMH PROPERTIES/SH SH by 44.0% during the fourth quarter. Great West Life Assurance Co. Can now owns 5,945 shares of the real estate investment trust’s stock worth $68,000 after acquiring an additional 1,816 shares during the period. 54.76% of the stock is currently owned by institutional investors and hedge funds.
UMH has been the topic of several analyst reports. Boenning Scattergood restated a “buy” rating and issued a $19.50 price target on shares of UMH PROPERTIES/SH SH in a research note on Monday, March 11th. Zacks Investment Research upgraded shares of UMH PROPERTIES/SH SH from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, March 12th.
NYSE UMH opened at $13.20 on Friday. UMH PROPERTIES/SH SH has a 12 month low of $11.14 and a 12 month high of $16.69. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 3.05. The company has a market cap of $520.35 million, a P/E ratio of 17.84, a P/E/G ratio of 1.83 and a beta of 0.74.
UMH PROPERTIES/SH SH (NYSE:UMH) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.04). UMH PROPERTIES/SH SH had a negative net margin of 13.68% and a negative return on equity of 11.83%. The company had revenue of $34.29 million for the quarter, compared to analyst estimates of $34.67 million. Sell-side analysts predict that UMH PROPERTIES/SH SH will post 0.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.45%. UMH PROPERTIES/SH SH’s dividend payout ratio is presently 97.30%.
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UMH PROPERTIES/SH SH Company Profile
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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