Raymond James Financial Inc. Takes Position in UMH Properties, Inc. (NYSE:UMH)

Raymond James Financial Inc. acquired a new stake in shares of UMH Properties, Inc. (NYSE:UMH) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,239,182 shares of the real estate investment trust’s stock, valued at approximately $23,396,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in shares of UMH Properties during the fourth quarter valued at approximately $38,000. Loomis Sayles & Co. L P raised its position in shares of UMH Properties by 2,760.0% during the third quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,346 shares during the last quarter. US Bancorp DE raised its position in shares of UMH Properties by 261.1% during the third quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 1,791 shares during the last quarter. Quarry LP raised its position in shares of UMH Properties by 904.5% during the third quarter. Quarry LP now owns 3,797 shares of the real estate investment trust’s stock valued at $75,000 after buying an additional 3,419 shares during the last quarter. Finally, Ulland Investment Advisors LLC increased its position in UMH Properties by 291.5% in the fourth quarter. Ulland Investment Advisors LLC now owns 3,915 shares of the real estate investment trust’s stock worth $74,000 after purchasing an additional 2,915 shares during the last quarter. Institutional investors own 75.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on UMH shares. StockNews.com cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, February 25th. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of UMH Properties in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $21.25.

UMH Properties Price Performance

Shares of NYSE:UMH opened at $18.03 on Friday. UMH Properties, Inc. has a twelve month low of $14.73 and a twelve month high of $20.64. The company’s 50 day moving average is $18.13 and its 200 day moving average is $18.84. 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 company has a market cap of $1.49 billion, a PE ratio of 138.68, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29.

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

UMH Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Tuesday, February 18th will be given a dividend of $0.215 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.77%. UMH Properties’s dividend payout ratio (DPR) is 2,866.67%.

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.