UMH Properties, Inc. (UMH) to Issue Quarterly Dividend of $0.23 on June 16th

UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Tuesday, April 1st, RTT News reports. Shareholders of record on Thursday, May 15th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, June 16th. This represents a $0.90 annualized dividend and a yield of 4.78%. This is a 4.7% increase from UMH Properties’s previous quarterly dividend of $0.22.

UMH Properties has raised its dividend by an average of 173.6% per year over the last three years. UMH Properties has a dividend payout ratio of 330.8% 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 $0.86 annual dividend with an expected future payout ratio of 86.0%.

UMH Properties Stock Performance

Shares of UMH Properties stock opened at $18.81 on Thursday. The firm has a market cap of $1.55 billion, a PE ratio of 144.70, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The company has a quick ratio of 8.48, a current ratio of 8.48 and a debt-to-equity ratio of 1.11. UMH Properties has a 52 week low of $14.73 and a 52 week high of $20.64. The business’s fifty day simple moving average is $18.22 and its 200-day simple moving average is $18.74.

UMH Properties (NYSE:UMH) last announced its earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.21. The company had revenue of ($126.74) million during the quarter, compared to analyst estimates of $59.73 million. UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. Equities analysts forecast that UMH Properties will post 0.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on UMH shares. StockNews.com upgraded UMH Properties from a “sell” rating to a “hold” rating in a research note on Thursday, March 27th. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of UMH Properties in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $21.17.

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.