Mitsubishi UFJ Asset Management Co. Ltd. Acquires 3,588 Shares of UMH Properties, Inc. (NYSE:UMH)

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in UMH Properties, Inc. (NYSE:UMH) by 10.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 37,160 shares of the real estate investment trust’s stock after acquiring an additional 3,588 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in UMH Properties were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UMH. SRS Capital Advisors Inc. raised its position in UMH Properties by 382.8% in the fourth quarter. SRS Capital Advisors Inc. now owns 2,158 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,711 shares in the last quarter. Spire Wealth Management lifted its position in shares of UMH Properties by 177.8% during the 3rd quarter. Spire Wealth Management now owns 3,320 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 2,125 shares during the period. International Assets Investment Management LLC lifted its position in shares of UMH Properties by 1,440.7% during the 4th quarter. International Assets Investment Management LLC now owns 7,904 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 7,391 shares during the period. New York Life Investment Management LLC acquired a new stake in UMH Properties in the 4th quarter valued at $156,000. Finally, Strs Ohio raised its stake in UMH Properties by 6.1% during the fourth quarter. Strs Ohio now owns 12,200 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 700 shares in the last quarter. 75.40% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $15.91, for a total value of $155,918.00. Following the completion of the sale, the chief operating officer now directly owns 97,049 shares of the company’s stock, valued at approximately $1,544,049.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.63% of the company’s stock.

UMH Properties Price Performance

Shares of NYSE UMH opened at $15.54 on Thursday. UMH Properties, Inc. has a 1-year low of $13.26 and a 1-year high of $16.85. The company has a 50-day moving average of $15.78 and a two-hundred day moving average of $15.26. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.59.

UMH Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be given a $0.215 dividend. This represents a $0.86 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from UMH Properties’s previous quarterly dividend of $0.21. UMH Properties’s payout ratio is -573.30%.

Analyst Ratings Changes

Several brokerages have recently commented on UMH. Wedbush restated a “neutral” rating and issued a $17.00 target price on shares of UMH Properties in a research note on Monday, May 13th. Compass Point boosted their price target on shares of UMH Properties from $20.00 to $21.50 and gave the company a “buy” rating in a research report on Thursday, March 21st. William Blair reaffirmed a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. StockNews.com downgraded UMH Properties from a “hold” rating to a “sell” rating in a report on Sunday, May 5th. Finally, B. Riley assumed coverage on UMH Properties in a report on Thursday, March 21st. They set a “buy” rating and a $18.50 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.00.

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.