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

Key Points

• UMH Properties, Inc. declared a quarterly dividend of $0.23 per share, with a yield of 6.1%, set to be paid on December 15th to shareholders on record by November 17th.
• The company's dividend payout ratio is 409.1%, indicating it is currently relying on its balance sheet to cover dividend payments, although expected earnings may allow for a future payout ratio of 90.0% when earnings are anticipated to be $1.00 per share next year.
• UMH Properties recently reported earnings of $0.23 per share for the latest quarter, missing analysts' estimates, and reported revenue of $66.64 million, surpassing consensus expectations.

UMH Properties, Inc. (NYSE:UMH - Get Free Report) declared a quarterly dividend on Wednesday, October 1st, RTT News reports. Shareholders of record on Monday, November 17th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 6.1%.

UMH Properties has a dividend payout ratio of 409.1% 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 to earn $1.00 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 90.0%.

UMH Properties Price Performance

Shares of UMH traded down $0.13 during trading hours on Wednesday, reaching $14.73. 456,970 shares of the company's stock traded hands, compared to its average volume of 805,425. The stock has a market cap of $1.25 billion, a PE ratio of 105.18, a price-to-earnings-growth ratio of 2.54 and a beta of 1.05. The company has a current ratio of 8.56, a quick ratio of 8.56 and a debt-to-equity ratio of 1.08. The firm's 50 day simple moving average is $15.65 and its 200-day simple moving average is $16.69. UMH Properties has a 12 month low of $14.37 and a 12 month high of $20.42.

UMH Properties (NYSE:UMH - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.23 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). UMH Properties had a return on equity of 5.19% and a net margin of 12.18%.The firm had revenue of $66.64 million during the quarter, compared to the consensus estimate of $66.07 million. Equities analysts expect that UMH Properties will post 0.93 EPS for the current year.

About UMH Properties

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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