UMH Properties, Inc. (NYSE:UMH) Announces Quarterly Dividend of $0.23

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, June 16th. This represents a $0.90 annualized dividend and a yield of 4.78%. This is a 4.7% increase from UMH Properties’s previous quarterly dividend of $0.22.

UMH Properties has raised its dividend by an average of 173.6% annually over the last three years. UMH Properties has a dividend payout ratio of 330.8% 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 Price Performance

Shares of UMH opened at $18.81 on Thursday. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The firm’s fifty day simple moving average is $18.22 and its 200-day simple moving average is $18.74. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 144.70, a PEG ratio of 2.93 and a beta of 1.29. UMH Properties has a twelve month low of $14.73 and a twelve month high of $20.64.

UMH Properties (NYSE:UMH) last announced its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.21. The company had revenue of ($126.74) million during the quarter, compared to the consensus estimate of $59.73 million. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. Equities analysts forecast that UMH Properties will post 0.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

UMH has been the topic of several recent analyst reports. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of UMH Properties in a research note on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, UMH Properties has a consensus rating of “Hold” and an average target price of $21.17.

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.