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

UMH Properties, Inc. (NYSE:UMH) declared 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 annualized dividend and a yield of 5.33%. The ex-dividend date is Thursday, August 15th.

UMH Properties has a 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 research 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 Stock Performance

Shares of UMH opened at $16.12 on Wednesday. The firm has a market capitalization of $1.13 billion, a P/E ratio of -107.46, a P/E/G ratio of 2.93 and a beta of 1.29. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85. The stock has a 50 day moving average price of $15.54 and a two-hundred day moving average price of $15.43. The company has a debt-to-equity ratio of 1.59, a quick ratio of 6.82 and a current ratio of 6.82.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Wednesday, June 12th. B. Riley reaffirmed a “buy” rating and issued a $18.50 price objective on shares of UMH Properties in a research report on Thursday, May 30th. Compass Point boosted their target price on UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Wedbush reaffirmed a “neutral” rating and issued a $17.00 target price on shares of UMH Properties in a report on Monday, May 13th. Finally, William Blair reiterated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, UMH Properties presently has an average rating of “Hold” and an average target price of $19.00.

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.