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

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Tuesday, February 18th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, March 17th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Tuesday, February 18th.

UMH Properties has increased its dividend by an average of 225.6% per year over the last three years. UMH Properties has a dividend 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. 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

UMH Properties stock traded down $0.01 during midday trading on Wednesday, reaching $18.19. 137,284 shares of the company’s stock were exchanged, compared to its average volume of 280,441. The stock’s 50-day simple moving average is $19.10 and its 200 day simple moving average is $18.71. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 139.93, a P/E/G ratio of 3.47 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 8.48 and a current ratio of 8.48. UMH Properties has a 52 week low of $14.09 and a 52 week high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $60.67 million during the quarter, compared to the consensus estimate of $61.57 million. During the same period in the prior year, the firm earned $0.22 EPS. On average, analysts expect that UMH Properties will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling at UMH Properties

In related news, 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 owns 1,104,826 shares of the company’s stock, valued at approximately $21,599,348.30. This represents a 4.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Angela D. Pruitt sold 2,800 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the transaction, the director now owns 7,993 shares of the company’s stock, valued at approximately $153,945.18. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,845 shares of company stock valued at $1,051,210. 8.63% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.