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

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Investors of record on Thursday, August 15th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, September 16th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, August 15th.

UMH Properties has a dividend payout ratio of 1,075.0% indicating that 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 $1.02 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 84.3%.

UMH Properties Price Performance

Shares of UMH Properties stock opened at $19.35 on Wednesday. The company has a current ratio of 6.77, a quick ratio of 6.77 and a debt-to-equity ratio of 1.49. The company’s 50-day moving average price is $16.76 and its two-hundred day moving average price is $15.92. UMH Properties has a 52 week low of $13.26 and a 52 week high of $19.61. The stock has a market cap of $1.42 billion, a PE ratio of -128.99, a price-to-earnings-growth ratio of 3.49 and a beta of 1.29.

UMH Properties (NYSE:UMH) last issued its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.21). The business had revenue of $60.33 million during the quarter, compared to the consensus estimate of $59.84 million. UMH Properties had a return on equity of 3.17% and a net margin of 5.79%. During the same quarter last year, the firm posted $0.21 earnings per share. As a group, sell-side analysts anticipate that UMH Properties will post 0.92 EPS for the current fiscal year.

Analyst Ratings Changes

UMH has been the topic of several recent analyst reports. Alliance Global Partners initiated coverage on UMH Properties in a report on Thursday, July 18th. They set a “buy” rating and a $21.00 price objective on the stock. William Blair restated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Wedbush boosted their price objective on UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, B. Riley reaffirmed a “buy” rating and set a $18.50 target price on shares of UMH Properties in a research note on Thursday, May 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.25.

Insider Buying and Selling at UMH Properties

In other UMH Properties news, Director Michael P. Landy bought 4,700 shares of the stock in a transaction on Tuesday, June 18th. The shares were bought at an average price of $15.45 per share, with a total value of $72,615.00. Following the purchase, the director now directly owns 341,796 shares in the company, valued at approximately $5,280,748.20. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Samuel A. Landy sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at approximately $17,254,970.65. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Michael P. Landy purchased 4,700 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was purchased at an average cost of $15.45 per share, with a total value of $72,615.00. Following the purchase, the director now owns 341,796 shares in the company, valued at approximately $5,280,748.20. The disclosure for this purchase can be found here. Company insiders own 8.63% of the company’s stock.

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.