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

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Tuesday, October 1st,Wall Street Journal reports. Shareholders 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 dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, November 15th.

UMH Properties has a payout ratio of 390.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities 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 Price Performance

Shares of NYSE:UMH opened at $19.76 on Thursday. The firm’s 50 day moving average is $19.24 and its two-hundred day moving average is $17.70. UMH Properties has a 52 week low of $13.91 and a 52 week high of $20.64. The firm has a market capitalization of $1.56 billion, a P/E ratio of 151.97, a PEG ratio of 3.52 and a beta of 1.30. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The firm had revenue of $60.67 million during the quarter, compared to analyst estimates of $61.57 million. During the same quarter in the previous year, the business posted $0.22 EPS. Analysts anticipate that UMH Properties will post 0.92 earnings per share for the current year.

Insider Activity

In other news, CEO Samuel A. Landy sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 8.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UMH. B. Riley raised their price objective on shares of UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research note on Thursday, August 15th. Wedbush raised their price objective on shares of UMH Properties from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Alliance Global Partners started coverage on shares of UMH Properties in a research note on Thursday, July 18th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, StockNews.com lowered shares of UMH Properties from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.