UMH Properties, Inc. (NYSE:UMH) Increases Dividend to $0.22 Per Share

UMH Properties, Inc. (NYSE:UMH - Get Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be given a dividend of 0.215 per share by the real estate investment trust on Monday, June 17th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date is Tuesday, May 14th. This is a boost from UMH Properties's previous quarterly dividend of $0.21.

UMH Properties has raised its dividend payment by an average of 4.4% annually over the last three years and has raised its dividend every year for the last 3 years. UMH Properties has a dividend payout ratio of 455.6% indicating that 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 $1.03 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 79.6%.

UMH Properties Price Performance

Shares of NYSE UMH traded up $0.02 during trading on Wednesday, reaching $16.04. The company had a trading volume of 308,758 shares, compared to its average volume of 371,488. The stock has a market capitalization of $1.11 billion, a PE ratio of -106.19, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. UMH Properties has a twelve month low of $13.26 and a twelve month high of $16.85. The stock has a 50-day moving average price of $15.33 and a two-hundred day moving average price of $14.83.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UMH. Wedbush reaffirmed a "neutral" rating and set a $17.00 target price on shares of UMH Properties in a report on Monday, March 25th. B. Riley began coverage on UMH Properties in a research report on Thursday, March 21st. They set a "buy" rating and a $18.50 price objective for the company. StockNews.com downgraded shares of UMH Properties from a "hold" rating to a "sell" rating in a report on Tuesday, March 26th. Finally, Compass Point upped their target price on UMH Properties from $20.00 to $21.50 and gave the stock a "buy" rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $19.00.

Hedge Funds Weigh In On UMH Properties

A number of large investors have recently modified their holdings of UMH. Federated Hermes Inc. lifted its position in shares of UMH Properties by 54.9% during the third quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 856 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in UMH Properties in the first quarter valued at approximately $58,000. Quantbot Technologies LP lifted its holdings in UMH Properties by 1,600.0% in the second quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust's stock valued at $60,000 after buying an additional 3,200 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in UMH Properties by 22.4% in the second quarter. Ameritas Investment Partners Inc. now owns 4,546 shares of the real estate investment trust's stock valued at $73,000 after buying an additional 832 shares during the period. Finally, Quarry LP lifted its holdings in UMH Properties by 344.6% in the first quarter. Quarry LP now owns 5,713 shares of the real estate investment trust's stock valued at $84,000 after buying an additional 4,428 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.

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.