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

UMH Properties, Inc. (NYSE:UMH - Get Free Report) announced a quarterly dividend on Tuesday, July 1st, RTT News reports. Shareholders of record on Friday, August 15th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, September 15th. This represents a $0.90 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Friday, August 15th.

UMH Properties has a 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 up $0.19 during trading hours on Friday, reaching $17.34. The company had a trading volume of 317,525 shares, compared to its average volume of 440,302. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of 144.51, a PEG ratio of 2.89 and a beta of 1.10. UMH Properties has a 12-month low of $15.74 and a 12-month high of $20.64. The firm has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $17.72. The company has a current ratio of 6.98, a quick ratio of 6.98 and a debt-to-equity ratio of 1.02.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The real estate investment trust reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $61.23 million for the quarter, compared to analysts' expectations of $62.82 million. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. Research analysts expect that UMH Properties will post 0.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. B. Riley reaffirmed a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Wall Street Zen upgraded shares of UMH Properties from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Wedbush upgraded shares of UMH Properties to a "hold" rating in a research report on Wednesday. Finally, Maxim Group cut their price objective on UMH Properties from $22.00 to $20.50 and set a "buy" rating for the company in a research report on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, UMH Properties has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Insider Activity

In other news, Director William Edward Mitchell sold 70,852 shares of UMH Properties stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $17.20, for a total transaction of $1,218,654.40. Following the completion of the sale, the director directly owned 215,427 shares in the company, valued at $3,705,344.40. The trade was a 24.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Samuel A. Landy sold 25,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $16.87, for a total transaction of $421,750.00. Following the transaction, the chief executive officer directly owned 1,140,265 shares in the company, valued at $19,236,270.55. The trade was a 2.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 160,826 shares of company stock valued at $2,745,314 in the last three months. 8.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On UMH Properties

Hedge funds have recently made changes to their positions in the stock. Amundi raised its holdings in UMH Properties by 15.6% in the first quarter. Amundi now owns 41,420 shares of the real estate investment trust's stock valued at $778,000 after buying an additional 5,590 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of UMH Properties by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,976 shares of the real estate investment trust's stock valued at $804,000 after buying an additional 1,871 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of UMH Properties by 2.9% in the 1st quarter. Royal Bank of Canada now owns 191,545 shares of the real estate investment trust's stock valued at $3,583,000 after buying an additional 5,409 shares during the period. Institutional investors and hedge funds own 75.40% of the company's stock.

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.