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

by · The Cerbat Gem

UMH Properties, Inc. (NYSE:UMH – Get Free Report) declared a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors 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 annualized dividend and a yield of 4.71%. The ex-dividend date is Tuesday, February 18th.

UMH Properties has raised its dividend payment by an average of 225.6% per year over the last three years. UMH Properties has a payout ratio of 344.0% 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 $1.00 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 opened at $18.24 on Friday. The company’s 50 day simple moving average is $19.07 and its two-hundred day simple moving average is $18.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48. UMH Properties has a 1 year low of $14.09 and a 1 year high of $20.64. The stock has a market capitalization of $1.44 billion, a PE ratio of 140.32, a P/E/G ratio of 3.47 and a beta of 1.29.

UMH Properties (NYSE:UMH – Get Free Report) last issued 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). The business had revenue of $60.67 million during the quarter, compared to analysts’ expectations of $61.57 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. During the same quarter last year, the business posted $0.22 EPS. Analysts predict 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 firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.55, for a total transaction of $977,500.00. Following the transaction, the chief executive officer now directly owns 1,104,826 shares in the company, valued at $21,599,348.30. This trade represents a 4.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total value of $53,928.00. Following the completion of the sale, the director now owns 7,993 shares of the company’s stock, valued at $153,945.18. The trade was a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,845 shares of company stock worth $1,051,210 over the last ninety days. Insiders own 8.63% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a report on Saturday, November 16th. Three investment 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, the company has an average rating of “Moderate Buy” and a consensus target price of $21.25.

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UMH Properties Company Profile

(Get Free Report)

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.

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