Jennison Associates LLC Grows Stake in UMH Properties, Inc. $UMH

Jennison Associates LLC grew its holdings in UMH Properties, Inc. (NYSE:UMH) by 10.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,536,362 shares of the real estate investment trust’s stock after acquiring an additional 150,718 shares during the quarter. Jennison Associates LLC owned about 1.83% of UMH Properties worth $25,796,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. KBC Group NV purchased a new position in shares of UMH Properties in the 1st quarter valued at about $32,000. Allianz Asset Management GmbH acquired a new position in UMH Properties in the first quarter valued at $788,000. Principal Financial Group Inc. boosted its stake in UMH Properties by 3.6% in the first quarter. Principal Financial Group Inc. now owns 38,816 shares of the real estate investment trust’s stock valued at $726,000 after acquiring an additional 1,362 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in UMH Properties by 1.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,324,531 shares of the real estate investment trust’s stock valued at $99,569,000 after acquiring an additional 73,196 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in UMH Properties by 1,091.0% in the first quarter. Alliancebernstein L.P. now owns 896,183 shares of the real estate investment trust’s stock valued at $16,759,000 after acquiring an additional 820,934 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on UMH. Cantor Fitzgerald began coverage on shares of UMH Properties in a research note on Wednesday, October 1st. They issued a “neutral” rating and a $15.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of UMH Properties in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Insider Buying and Selling

In other UMH Properties news, CEO Samuel A. Landy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $14.19, for a total transaction of $283,800.00. Following the completion of the sale, the chief executive officer directly owned 1,054,568 shares of the company’s stock, valued at approximately $14,964,319.92. This trade represents a 1.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Angela D. Pruitt sold 1,600 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $16.06, for a total value of $25,696.00. Following the sale, the director directly owned 9,905 shares of the company’s stock, valued at $159,074.30. The trade was a 13.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 10,743 shares of company stock valued at $155,097 and sold 175,249 shares valued at $2,775,528. 8.77% of the stock is owned by company insiders.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $14.25 on Friday. The company has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $16.17. UMH Properties, Inc. has a one year low of $13.95 and a one year high of $20.42. The company has a debt-to-equity ratio of 1.08, a quick ratio of 8.56 and a current ratio of 8.56. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 101.75, a PEG ratio of 2.49 and a beta of 1.05.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.The company had revenue of $66.64 million for the quarter, compared to analyst estimates of $66.07 million. On average, analysts predict that UMH Properties, Inc. will post 0.93 EPS for the current year.

UMH Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Monday, November 17th. UMH Properties’s dividend payout ratio (DPR) is presently 642.86%.

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.