UMH Properties, Inc. to Issue Quarterly Dividend of $0.22 (NYSE:UMH)

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Tuesday, July 2nd, Wall Street Journal reports. Investors of record on Thursday, August 15th will be given a dividend of 0.215 per share by the real estate investment trust on Monday, September 16th. This represents a $0.86 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend is Thursday, August 15th.

UMH Properties has a payout ratio of 1,075.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect UMH Properties to earn $1.02 per share next year, which means the company should continue to be able to cover its $0.86 annual dividend with an expected future payout ratio of 84.3%.

UMH Properties Trading Up 0.4 %

UMH Properties stock traded up $0.07 during midday trading on Tuesday, hitting $16.11. 263,703 shares of the stock were exchanged, compared to its average volume of 376,871. The company has a fifty day simple moving average of $15.53 and a two-hundred day simple moving average of $15.43. UMH Properties has a 52 week low of $13.26 and a 52 week high of $16.85. The stock has a market capitalization of $1.13 billion, a PE ratio of -106.93, a P/E/G ratio of 2.93 and a beta of 1.29. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.59.

Wall Street Analyst Weigh In

Several research firms recently weighed in on UMH. B. Riley reissued a “buy” rating and set a $18.50 price objective on shares of UMH Properties in a research note on Thursday, May 30th. StockNews.com raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, June 12th. Wedbush restated a “neutral” rating and set a $17.00 target price on shares of UMH Properties in a report on Monday, May 13th. Compass Point raised their target price on shares of UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a report on Thursday, March 21st. Finally, William Blair restated a “neutral” rating on shares of UMH Properties in a report on Monday, May 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, UMH Properties has a consensus rating of “Hold” and a consensus price target of $19.00.

Insiders Place Their Bets

In other news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the sale, the chief operating officer now directly owns 97,049 shares in the company, valued at $1,544,049.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Brett Taft sold 9,800 shares of UMH Properties stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $15.91, for a total value of $155,918.00. Following the sale, the chief operating officer now directly owns 97,049 shares in the company, valued at $1,544,049.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $15.01, for a total transaction of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares in the company, valued at $17,254,970.65. The disclosure for this sale can be found here. Corporate insiders own 8.63% 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.