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

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Wednesday, October 2nd, Wall Street Journal reports. Investors 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 yield of 4.47%. The ex-dividend date of this dividend is Friday, November 15th.

UMH Properties has a payout ratio of 614.3% 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 $1.01 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 Trading Down 1.0 %

Shares of NYSE UMH traded down $0.20 during trading on Wednesday, hitting $19.24. 131,506 shares of the company traded hands, compared to its average volume of 426,423. The firm has a market capitalization of $1.51 billion, a P/E ratio of -129.59, a P/E/G ratio of 3.47 and a beta of 1.30. The company has a quick ratio of 6.77, a current ratio of 6.77 and a debt-to-equity ratio of 1.49. The company has a 50-day moving average price of $19.20 and a 200-day moving average price of $17.02. UMH Properties has a 1 year low of $13.26 and a 1 year high of $20.64.

UMH Properties (NYSE:UMH) last posted its quarterly earnings results on Tuesday, August 6th. The real estate investment trust reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.21). The firm had revenue of $60.33 million for the quarter, compared to analysts’ expectations of $59.84 million. UMH Properties had a net margin of 5.79% and a return on equity of 3.17%. During the same period last year, the firm posted $0.21 EPS. On average, equities analysts predict that UMH Properties will post 0.93 EPS for the current year.

Insider Buying and Selling

In other UMH Properties news, Director Kiernan Conway sold 2,700 shares of UMH Properties stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $19.54, for a total transaction of $52,758.00. Following the sale, the director now directly owns 412 shares in the company, valued at approximately $8,050.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

UMH has been the topic of several research reports. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. Alliance Global Partners began coverage on shares of UMH Properties in a research note on Thursday, July 18th. They issued a “buy” rating and a $21.00 target price on the stock. Wedbush upped their price target on shares of UMH Properties from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Finally, B. Riley raised their price objective on UMH Properties from $18.50 to $22.50 and gave the company a “buy” rating in a research report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, UMH Properties has a consensus rating of “Moderate Buy” and a consensus target price of $21.25.

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.