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

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be given a dividend of 0.215 per share by the real estate investment trust on Monday, March 17th. This represents a $0.86 annualized dividend and a dividend yield of 4.71%. The ex-dividend date is Tuesday, February 18th.

UMH Properties has increased its dividend by an average of 225.6% annually over the last three years. UMH Properties has a payout ratio of 344.0% meaning 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 Trading Up 0.2 %

Shares of UMH opened at $18.24 on Thursday. UMH Properties has a 12-month low of $14.09 and a 12-month high of $20.64. The firm has a market capitalization of $1.44 billion, a P/E ratio of 140.32, a P/E/G ratio of 3.47 and a beta of 1.29. The firm has a 50-day moving average price of $19.08 and a 200 day moving average price of $18.70. 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 posted its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 last year, the company earned $0.22 EPS. Sell-side analysts forecast that UMH Properties will post 0.93 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research note on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $21.25.

Insider Transactions at UMH Properties

In other UMH Properties news, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the sale, the director now directly owns 7,993 shares in the company, valued at $153,945.18. This represents a 25.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the sale, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. This represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,845 shares of company stock worth $1,051,210. 8.63% of the stock is currently owned by insiders.

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.