Vestcor Inc Has $1.28 Million Position in UMH Properties, Inc. (NYSE:UMH)

Vestcor Inc increased its holdings in shares of UMH Properties, Inc. (NYSE:UMH) by 19.5% during the 4th quarter, HoldingsChannel reports. The firm owned 67,977 shares of the real estate investment trust’s stock after purchasing an additional 11,104 shares during the period. Vestcor Inc’s holdings in UMH Properties were worth $1,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in UMH Properties by 12.4% in the fourth quarter. Swiss National Bank now owns 146,800 shares of the real estate investment trust’s stock valued at $2,772,000 after buying an additional 16,200 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of UMH Properties by 1,011.1% during the fourth quarter. Farther Finance Advisors LLC now owns 1,600 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,456 shares during the period. Daiwa Securities Group Inc. lifted its position in UMH Properties by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 24,240 shares of the real estate investment trust’s stock valued at $458,000 after acquiring an additional 1,467 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in UMH Properties by 64.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 54,867 shares of the real estate investment trust’s stock worth $1,036,000 after purchasing an additional 21,561 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of UMH Properties in the 4th quarter valued at about $23,396,000. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

UMH Properties Price Performance

NYSE:UMH opened at $18.03 on Friday. UMH Properties, Inc. has a 52-week low of $14.73 and a 52-week high of $20.64. The company has a market cap of $1.49 billion, a P/E ratio of 138.68, a P/E/G ratio of 2.93 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The stock’s 50-day simple moving average is $18.13 and its 200 day simple moving average is $18.84.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share 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 firm had revenue of ($126.74) million for the quarter, compared to analyst estimates of $59.73 million. As a group, sell-side analysts forecast that UMH Properties, Inc. will post 0.93 EPS for the current fiscal year.

UMH Properties Announces Dividend

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

UMH Properties Company 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.