Rutabaga Capital Managementma Lowers stake in UMH Properties Inc (UMH)

UMH Properties Inc (UMH) : Rutabaga Capital Managementma reduced its stake in UMH Properties Inc by 30.82% during the most recent quarter end. The investment management company now holds a total of 747,127 shares of UMH Properties Inc which is valued at $8,958,053 after selling 332,791 shares in UMH Properties Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.UMH Properties Inc makes up approximately 1.55% of Rutabaga Capital Managementma’s portfolio.

Other Hedge Funds, Including , Daiwa Securities Group reduced its stake in UMH by selling 100 shares or 11.11% in the most recent quarter. The Hedge Fund company now holds 800 shares of UMH which is valued at $9,760. Simplex Trading sold out all of its stake in UMH during the most recent quarter. The investment firm sold 2,674 shares of UMH which is valued $32,997.

UMH Properties Inc opened for trading at $12.25 and hit $12.57 on the upside on Monday, eventually ending the session at $12.55, with a gain of 2.45% or 0.3 points. The heightened volatility saw the trading volume jump to 95,177 shares. Company has a market cap of $347 M.

Many Wall Street Analysts have commented on UMH Properties Inc. Company shares were Reiterated by Wunderlich on Aug 8, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $11 .

UMH Properties Inc. is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities leasing manufactured home sites on a month-to-month basis or year-to-year basis to private manufactured home owners. It also leases homes to residents and through its subsidiary UMH Sales and Finance Inc. (S&F) it sells homes to residents and prospective residents of its communities. It owns and operates around 98 manufactured home communities with approximately 17800 developed homesites. Its communities are located in New Jersey New York Ohio Pennsylvania Tennessee Indiana and Michigan. In addition the Company owns a portfolio of REIT securities. The Company’s subsidiaries include Allentown Mobile City Associates LP Brookview LP Heather Highlands Mobile Home Village Associates LP Kinnebrook Mobile Home Associates LP Oxford Village Homes LLC and Oxford Village Ltd.

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