Gamco Investors INC. ET AL Raises Position in UMH Properties, Inc. (NYSE:UMH)

Gamco Investors INC. ET AL increased its holdings in UMH Properties, Inc. (NYSE:UMH) by 8.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,800 shares of the real estate investment trust’s stock after purchasing an additional 6,500 shares during the quarter. Gamco Investors INC. ET AL owned 0.11% of UMH Properties worth $1,296,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of UMH. SG Americas Securities LLC increased its position in shares of UMH Properties by 43.2% in the fourth quarter. SG Americas Securities LLC now owns 30,334 shares of the real estate investment trust’s stock valued at $465,000 after acquiring an additional 9,155 shares during the period. Raymond James & Associates increased its position in shares of UMH Properties by 10.1% in the fourth quarter. Raymond James & Associates now owns 664,868 shares of the real estate investment trust’s stock valued at $10,186,000 after acquiring an additional 61,239 shares during the period. State of Alaska Department of Revenue increased its position in shares of UMH Properties by 6.7% in the fourth quarter. State of Alaska Department of Revenue now owns 28,130 shares of the real estate investment trust’s stock valued at $430,000 after acquiring an additional 1,769 shares during the period. Clear Creek Financial Management LLC increased its position in shares of UMH Properties by 62.5% in the fourth quarter. Clear Creek Financial Management LLC now owns 39,623 shares of the real estate investment trust’s stock valued at $607,000 after acquiring an additional 15,245 shares during the period. Finally, Arizona State Retirement System boosted its stake in shares of UMH Properties by 5.4% during the 4th quarter. Arizona State Retirement System now owns 17,334 shares of the real estate investment trust’s stock valued at $266,000 after purchasing an additional 894 shares in the last quarter. Hedge funds and other institutional investors own 75.40% of the company’s stock.

Insider Buying and Selling

In related news, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the transaction, the chief executive officer now owns 1,149,565 shares in the company, valued at $17,254,970.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Samuel A. Landy sold 25,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the transaction, the chief executive officer now owns 1,149,565 shares in the company, valued at $17,254,970.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Michael P. Landy acquired 4,700 shares of the stock in a transaction on Tuesday, June 18th. The shares were acquired at an average price of $15.45 per share, with a total value of $72,615.00. Following the transaction, the director now directly owns 341,796 shares of the company’s stock, valued at $5,280,748.20. The disclosure for this purchase can be found here. 8.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

UMH has been the topic of a number of research reports. William Blair reaffirmed a “neutral” rating on shares of UMH Properties in a research note on Monday, May 13th. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. B. Riley reaffirmed a “buy” rating and set a $18.50 target price on shares of UMH Properties in a research note on Thursday, May 30th. Wedbush reaffirmed a “neutral” rating and set a $17.00 target price on shares of UMH Properties in a research note on Monday, May 13th. Finally, Alliance Global Partners initiated coverage on shares of UMH Properties in a research note on Thursday, July 18th. They set a “buy” rating and a $21.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.50.

UMH Properties Stock Performance

UMH stock traded up $0.28 during midday trading on Friday, reaching $17.68. 243,983 shares of the company’s stock traded hands, compared to its average volume of 482,146. The stock has a market cap of $1.24 billion, a P/E ratio of -117.86, a PEG ratio of 3.24 and a beta of 1.29. UMH Properties, Inc. has a 52-week low of $13.26 and a 52-week high of $17.97. The stock’s 50-day moving average is $15.96 and its 200 day moving average is $15.66. The company has a current ratio of 6.82, a quick ratio of 6.82 and a debt-to-equity ratio of 1.59.

UMH Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be given a $0.215 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.86%. UMH Properties’s payout ratio is currently -573.30%.

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.