UMH Properties, Inc. (NYSE:UMH) Announces Dividend Increase – $0.23 Per Share

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders of record on Thursday, May 15th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, June 16th. This represents a $0.90 annualized dividend and a dividend yield of 4.82%. This is a 4.7% increase from UMH Properties’s previous quarterly dividend of $0.22.

UMH Properties has increased its dividend payment by an average of 173.6% per year over the last three years. UMH Properties has a payout ratio of 330.8% 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 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 traded down $0.02 during trading on Tuesday, hitting $18.68. 292,513 shares of the company’s stock traded hands, compared to its average volume of 416,876. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 143.73, a PEG ratio of 2.93 and a beta of 1.29. UMH Properties has a 12-month low of $14.73 and a 12-month high of $20.64. The business has a 50 day moving average of $18.20 and a 200-day moving average of $18.75.

UMH Properties (NYSE:UMH) last released its quarterly earnings data on Wednesday, February 26th. The real estate investment trust reported $0.24 EPS for the quarter, topping the consensus estimate of $0.03 by $0.21. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The company had revenue of ($126.74) million during the quarter, compared to the consensus estimate of $59.73 million. As a group, equities research analysts anticipate that UMH Properties will post 0.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on UMH. StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Thursday, March 27th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of UMH Properties in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.17.

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.