Brookfield Corp ON Acquires New Position in UMH Properties, Inc. (NYSE:UMH)

Brookfield Corp ON acquired a new position in shares of UMH Properties, Inc. (NYSE:UMH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 220,163 shares of the real estate investment trust’s stock, valued at approximately $4,331,000.

Several other institutional investors and hedge funds have also modified their holdings of UMH. Maryland Capital Advisors Inc. acquired a new position in UMH Properties during the third quarter worth about $26,000. Loomis Sayles & Co. L P increased its position in UMH Properties by 2,760.0% during the 3rd quarter. Loomis Sayles & Co. L P now owns 2,431 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,346 shares in the last quarter. US Bancorp DE lifted its stake in UMH Properties by 261.1% in the 3rd quarter. US Bancorp DE now owns 2,477 shares of the real estate investment trust’s stock valued at $49,000 after purchasing an additional 1,791 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in UMH Properties by 36.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,596 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 698 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of UMH Properties during the second quarter worth $71,000. 75.40% of the stock is currently owned by institutional investors.

UMH Properties Stock Performance

Shares of UMH Properties stock opened at $19.26 on Friday. The business has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $18.09. UMH Properties, Inc. has a 1-year low of $14.09 and a 1-year high of $20.64. 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 $1.52 billion, a P/E ratio of 148.17, a PEG ratio of 3.52 and a beta of 1.29.

UMH Properties (NYSE:UMH) last issued its earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. As a group, analysts anticipate 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, December 16th. Investors of record on Friday, November 15th will be issued a $0.215 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.47%. UMH Properties’s dividend payout ratio is presently 661.59%.

Insider Activity at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now directly owns 1,104,826 shares in the company, valued at approximately $21,599,348.30. This trade represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of UMH Properties stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now directly owns 7,993 shares in the company, valued at $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,845 shares of company stock valued at $1,051,210. 8.63% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

UMH has been the topic of several recent research reports. B. Riley raised their price objective on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a report on Thursday, August 15th. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.25.

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.