APG Asset Management US Inc. Acquires New Shares in UMH Properties, Inc. (NYSE:UMH)

APG Asset Management US Inc. bought a new stake in shares of UMH Properties, Inc. (NYSE:UMH) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 483,116 shares of the real estate investment trust’s stock, valued at approximately $9,121,000.

Other large investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of UMH Properties in the fourth quarter worth $23,396,000. Legal & General Group Plc raised its position in shares of UMH Properties by 2.7% during the fourth quarter. Legal & General Group Plc now owns 353,449 shares of the real estate investment trust’s stock valued at $6,673,000 after buying an additional 9,191 shares during the last quarter. Invesco Ltd. increased its stake in UMH Properties by 24.1% during the fourth quarter. Invesco Ltd. now owns 278,981 shares of the real estate investment trust’s stock valued at $5,267,000 after acquiring an additional 54,247 shares during the period. Employees Retirement System of Texas acquired a new stake in shares of UMH Properties during the 4th quarter worth approximately $2,568,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in shares of UMH Properties in the fourth quarter valued at $546,000. Institutional investors own 75.40% of the company’s stock.

Wall Street Analysts Forecast Growth

UMH has been the subject of a number of recent research reports. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of UMH Properties in a research note on Monday, January 13th. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.17.

UMH Properties Price Performance

Shares of UMH stock opened at $16.37 on Wednesday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 125.93, a PEG ratio of 2.93 and a beta of 1.17. The firm’s 50 day moving average is $18.14 and its 200-day moving average is $18.64. UMH Properties, Inc. has a 1 year low of $14.73 and a 1 year high of $20.64.

UMH Properties (NYSE:UMH) last released its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.03 by $0.21. The company had revenue of ($126.74) million during the quarter, compared to analysts’ expectations of $59.73 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. Sell-side analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Increases Dividend

The firm also recently announced 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 5.50%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from UMH Properties’s previous quarterly dividend of $0.22. UMH Properties’s dividend payout ratio (DPR) is 3,000.00%.

About UMH Properties

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.