Capital Research Global Investors Purchases 2,236,080 Shares of UMH Properties, Inc. (NYSE:UMH)

Capital Research Global Investors raised its holdings in shares of UMH Properties, Inc. (NYSE:UMH) by 124.5% during the fourth quarter, HoldingsChannel reports. The firm owned 4,031,849 shares of the real estate investment trust’s stock after purchasing an additional 2,236,080 shares during the period. Capital Research Global Investors owned about 0.05% of UMH Properties worth $76,121,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Raymond James Financial Inc. bought a new position in UMH Properties in the fourth quarter worth approximately $23,396,000. Vanguard Group Inc. lifted its stake in shares of UMH Properties by 11.9% during the 4th quarter. Vanguard Group Inc. now owns 7,506,462 shares of the real estate investment trust’s stock worth $141,722,000 after purchasing an additional 799,798 shares during the last quarter. APG Asset Management US Inc. bought a new stake in UMH Properties during the fourth quarter valued at about $9,121,000. Franklin Resources Inc. bought a new position in UMH Properties in the third quarter worth about $4,421,000. Finally, First Eagle Investment Management LLC lifted its position in shares of UMH Properties by 90.3% during the fourth quarter. First Eagle Investment Management LLC now owns 375,919 shares of the real estate investment trust’s stock valued at $7,097,000 after buying an additional 178,426 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UMH shares. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Tuesday. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of UMH Properties in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UMH Properties has a consensus rating of “Hold” and an average price target of $21.17.

UMH Properties Stock Down 1.4 %

UMH stock opened at $17.04 on Tuesday. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties, Inc. has a 52 week low of $14.73 and a 52 week high of $20.64. The stock has a market capitalization of $1.41 billion, a PE ratio of 131.09, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. The firm has a 50 day moving average of $17.93 and a 200 day moving average of $18.48.

UMH Properties (NYSE:UMH) last announced its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. The firm had revenue of ($126.74) million for the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. Sell-side analysts forecast that UMH Properties, Inc. will post 0.93 earnings per share for the current year.

UMH Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, May 15th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 5.28%. This is a boost from UMH Properties’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, May 15th. UMH Properties’s dividend payout ratio (DPR) is presently 3,000.00%.

UMH Properties Profile

UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 135 manufactured home communities containing approximately 25,800 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan, Maryland, Alabama, South Carolina and Georgia.