UMH PROPERTIES/SH SH (NYSE:UMH) declared a quarterly dividend on Wednesday, July 1st, Zacks reports. Stockholders of record on Monday, August 17th will be paid a dividend of 0.18 per share by the real estate investment trust on Tuesday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date of this dividend is Friday, August 14th.
UMH PROPERTIES/SH SH has decreased its dividend by an average of 4.0% annually over the last three years. UMH PROPERTIES/SH SH has a payout ratio of -54.5% meaning 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/SH SH to earn $0.82 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 87.8%.
Shares of NYSE UMH traded up $0.07 during trading hours on Friday, reaching $13.24. 162,436 shares of the stock were exchanged, compared to its average volume of 181,816. The firm has a market capitalization of $543.93 million, a price-to-earnings ratio of -11.72 and a beta of 1.02. The company has a debt-to-equity ratio of 4.57, a quick ratio of 3.23 and a current ratio of 3.23. UMH PROPERTIES/SH SH has a 52 week low of $8.63 and a 52 week high of $16.64. The stock's fifty day simple moving average is $12.53 and its 200 day simple moving average is $13.62.
UMH PROPERTIES/SH SH (NYSE:UMH) last announced its earnings results on Thursday, May 7th. The real estate investment trust reported ($1.04) earnings per share for the quarter, missing the Zacks' consensus estimate of $0.16 by ($1.20). The firm had revenue of $37.57 million for the quarter, compared to the consensus estimate of $38.36 million. UMH PROPERTIES/SH SH had a negative return on equity of 19.18% and a negative net margin of 16.68%. Research analysts predict that UMH PROPERTIES/SH SH will post 0.65 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on UMH shares. TheStreet downgraded UMH PROPERTIES/SH SH from a "c" rating to a "d+" rating in a research report on Tuesday, March 31st. B. Riley increased their price target on UMH PROPERTIES/SH SH from $15.00 to $16.00 in a research report on Wednesday, June 10th. Zacks Investment Research raised UMH PROPERTIES/SH SH from a "hold" rating to a "buy" rating and set a $15.00 price target on the stock in a research report on Saturday, May 30th. DA Davidson downgraded UMH PROPERTIES/SH SH from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $17.00 to $16.00 in a research report on Monday, March 16th. Finally, Maxim Group reissued a "buy" rating and set a $18.00 price target on shares of UMH PROPERTIES/SH SH in a research report on Saturday, March 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of "Buy" and an average target price of $16.90.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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