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

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Tuesday, October 1st,Wall Street Journal reports. Stockholders 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 4.44%. The ex-dividend date is Friday, November 15th.

UMH Properties has a dividend 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 $1.01 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 85.1%.

UMH Properties Price Performance

UMH stock opened at $19.39 on Wednesday. UMH Properties has a twelve month low of $13.91 and a twelve month high of $20.64. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $1.53 billion, a P/E ratio of 149.17, a PEG ratio of 3.55 and a beta of 1.30. The business has a 50 day simple moving average of $19.23 and a 200-day simple moving average of $17.68.

UMH Properties (NYSE:UMH) last announced 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). UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. During the same period in the prior year, the company earned $0.22 EPS. As a group, equities analysts anticipate that UMH Properties will post 0.92 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In related news, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the transaction, the director now directly owns 412 shares of the company’s stock, valued at $8,050.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.63% of the stock is owned by insiders.

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.