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

UMH Properties, Inc. (NYSE:UMH - Get Free Report) declared a quarterly dividend on Tuesday, July 1st, RTT News reports. Shareholders of record on Friday, August 15th will be paid a dividend of 0.225 per share by the real estate investment trust on Monday, September 15th. This represents a $0.90 annualized dividend and a yield of 5.25%. The ex-dividend date is Friday, August 15th.

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. 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 Stock Performance

NYSE UMH traded up $0.19 during midday trading on Wednesday, hitting $17.15. The company had a trading volume of 412,002 shares, compared to its average volume of 439,818. The firm has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $17.74. UMH Properties has a fifty-two week low of $15.74 and a fifty-two week high of $20.64. The company has a quick ratio of 6.98, a current ratio of 6.98 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 142.93, a P/E/G ratio of 2.82 and a beta of 1.10.

UMH Properties (NYSE:UMH - Get Free Report) last released its 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 the consensus estimate of $62.82 million. UMH Properties had a return on equity of 5.14% and a net margin of 11.51%. Equities analysts forecast that UMH Properties will post 0.93 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On UMH Properties

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UMH. Royal Bank of Canada raised its stake in shares of UMH Properties by 2.9% in the first quarter. Royal Bank of Canada now owns 191,545 shares of the real estate investment trust's stock valued at $3,583,000 after acquiring an additional 5,409 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in UMH Properties by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,976 shares of the real estate investment trust's stock worth $804,000 after acquiring an additional 1,871 shares during the last quarter. Finally, Amundi increased its holdings in UMH Properties by 15.6% during the 1st quarter. Amundi now owns 41,420 shares of the real estate investment trust's stock valued at $778,000 after purchasing an additional 5,590 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on UMH. Wall Street Zen upgraded UMH Properties from a "sell" rating to a "hold" rating in a research report on Friday, June 6th. Maxim Group lowered their price target on shares of UMH Properties from $22.00 to $20.50 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, B. Riley restated a "buy" rating on shares of UMH Properties in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, UMH Properties has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

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.