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

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders 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 increased its dividend by an average of 225.6% annually over the last three years. UMH Properties has a 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. Equities 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

Shares of UMH stock opened at $18.24 on Thursday. UMH Properties has a 52-week low of $14.09 and a 52-week high of $20.64. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. The stock has a market cap of $1.44 billion, a PE ratio of 140.32, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. The business has a 50-day simple moving average of $19.08 and a 200-day simple moving average of $18.70.

UMH Properties (NYSE:UMH) last issued its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS 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 firm had revenue of $60.67 million for the quarter, compared to analyst estimates of $61.57 million. During the same period in the previous year, the business earned $0.22 EPS. On average, equities analysts expect that UMH Properties will post 0.93 EPS for the current year.

Insider Activity at UMH Properties

In related news, Director Angela D. Pruitt sold 2,800 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the transaction, the director now directly owns 7,993 shares in the company, valued at approximately $153,945.18. The trade was a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Samuel A. Landy sold 50,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 53,845 shares of company stock valued at $1,051,210. 8.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.