UMH Properties, Inc., which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland. In addition, the Company owns a portfolio of REIT securities.
UMH Properties Price Performance
Shares of NYSE:UMH opened at $20.31 on Monday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 16.65 and a current ratio of 16.67. The company has a market cap of $1.10 billion, a PE ratio of -50.78, a P/E/G ratio of 4.67 and a beta of 1.21. The business has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $21.61. UMH Properties has a fifty-two week low of $16.50 and a fifty-two week high of $27.50.
UMH Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Monday, August 15th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Friday, August 12th. UMH Properties's payout ratio is -200.00%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Compass Point set a $26.50 price objective on UMH Properties in a research report on Monday, June 20th. Maxim Group reaffirmed a "buy" rating and set a $28.00 price objective on shares of UMH Properties in a research report on Friday, May 6th. Finally, B. Riley dropped their price objective on UMH Properties from $27.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $27.33.
Insider Transactions at UMH Properties
In other news, Director Kenneth K. Quigley, Jr. acquired 2,500 shares of UMH Properties stock in a transaction dated Monday, May 16th. The stock was purchased at an average cost of $19.35 per share, for a total transaction of $48,375.00. Following the completion of the purchase, the director now directly owns 19,865 shares in the company, valued at approximately $384,387.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Kenneth K. Quigley, Jr. purchased 3,500 shares of UMH Properties stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average cost of $18.81 per share, for a total transaction of $65,835.00. Following the completion of the transaction, the director now owns 17,365 shares in the company, valued at $326,635.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth K. Quigley, Jr. purchased 2,500 shares of UMH Properties stock in a transaction that occurred on Monday, May 16th. The shares were bought at an average price of $19.35 per share, with a total value of $48,375.00. Following the completion of the transaction, the director now owns 19,865 shares of the company's stock, valued at approximately $384,387.75. The disclosure for this purchase can be found here. Insiders bought a total of 6,115 shares of company stock worth $116,219 over the last three months. 10.95% of the stock is currently owned by insiders.