abrdn plc Takes $251,000 Position in UMH Properties, Inc. (NYSE:UMH)

abrdn plc bought a new stake in UMH Properties, Inc. (NYSE:UMH) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,779 shares of the real estate investment trust’s stock, valued at approximately $251,000.

Several other institutional investors also recently bought and sold shares of UMH. State of Alaska Department of Revenue increased its stake in UMH Properties by 2.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 31,304 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 663 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $50,000 after buying an additional 698 shares during the period. Diversified Trust Co raised its holdings in UMH Properties by 7.2% during the 2nd quarter. Diversified Trust Co now owns 15,212 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 1,024 shares during the last quarter. Arizona State Retirement System boosted its position in UMH Properties by 6.4% during the 2nd quarter. Arizona State Retirement System now owns 18,445 shares of the real estate investment trust’s stock valued at $295,000 after buying an additional 1,111 shares during the period. Finally, Cornercap Investment Counsel Inc. grew its holdings in UMH Properties by 2.4% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 48,046 shares of the real estate investment trust’s stock worth $768,000 after acquiring an additional 1,124 shares during the last quarter. 75.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at UMH Properties

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $19.54, for a total value of $52,758.00. Following the sale, the director now owns 412 shares in the company, valued at approximately $8,050.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.63% of the stock is currently owned by corporate insiders.

UMH Properties Stock Performance

UMH Properties stock opened at $18.69 on Wednesday. UMH Properties, Inc. has a fifty-two week low of $13.91 and a fifty-two week high of $20.64. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of -266.96, a PEG ratio of 3.28 and a beta of 1.30. The stock’s 50 day simple moving average is $19.26 and its two-hundred day simple moving average is $17.53. The company has a debt-to-equity ratio of 1.49, a quick ratio of 6.77 and a current ratio of 6.77.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.21). The firm had revenue of $60.33 million during the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. During the same period in the previous year, the company earned $0.21 earnings per share. As a group, analysts expect that UMH Properties, Inc. will post 0.93 earnings per share for the current fiscal year.

UMH Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.215 dividend. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date of this dividend is Friday, November 15th. UMH Properties’s dividend payout ratio is presently -1,228.40%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on UMH shares. Alliance Global Partners started coverage on shares of UMH Properties in a report on Thursday, July 18th. They set a “buy” rating and a $21.00 target price for the company. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. B. Riley boosted their target price on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Wedbush raised their price target on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, UMH Properties currently has a consensus rating of “Moderate Buy” and a consensus 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.