UMH Properties, Inc. (NYSE:UMH) Announces $0.22 Quarterly Dividend

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Tuesday, October 1st,Wall Street Journal reports. Investors of record on Friday, November 15th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, December 16th. This represents a $0.86 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, November 15th.

UMH Properties has a payout ratio of 390.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect UMH Properties to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 86.0%.

UMH Properties Stock Performance

NYSE:UMH opened at $19.76 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. The firm has a 50-day moving average of $19.24 and a two-hundred day moving average of $17.70. The stock has a market cap of $1.56 billion, a P/E ratio of 151.97, a PEG ratio of 3.52 and a beta of 1.30. UMH Properties has a 1-year low of $13.91 and a 1-year high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). The firm had revenue of $60.67 million during the quarter, compared to analysts’ expectations of $61.57 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. During the same period in the previous year, the company earned $0.22 earnings per share. On average, research analysts expect that UMH Properties will post 0.92 earnings per share for the current fiscal year.

Insider Transactions at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total value of $977,500.00. Following the transaction, the chief executive officer now owns 1,104,826 shares of the company’s stock, valued at $21,599,348.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wedbush upped their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, August 8th. B. Riley increased their price target on shares of UMH Properties from $18.50 to $22.50 and gave the stock a “buy” rating in a research report on Thursday, August 15th. StockNews.com cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. Finally, Alliance Global Partners assumed coverage on shares of UMH Properties in a research report on Thursday, July 18th. They set a “buy” rating and a $21.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $21.25.

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.