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

UMH Properties, Inc. (NYSE:UMHGet Free Report) announced a quarterly dividend on Monday, April 1st, Zacks reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, June 17th. This represents a $0.86 annualized dividend and a dividend yield of 5.37%. The ex-dividend date is Tuesday, May 14th. This is an increase from UMH Properties’s previous quarterly dividend of $0.21.

UMH Properties has raised its dividend payment by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. UMH Properties has a payout ratio of 455.6% 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 $1.03 per share next year, which means the company should continue to be able to cover its $0.82 annual dividend with an expected future payout ratio of 79.6%.

UMH Properties Stock Up 0.5 %

UMH stock opened at $16.02 on Wednesday. The company has a current ratio of 6.52, a quick ratio of 6.52 and a debt-to-equity ratio of 1.66. The company’s 50 day moving average is $15.33 and its 200 day moving average is $14.83. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -106.76, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24. UMH Properties has a 1-year low of $13.26 and a 1-year high of $16.85.

Analysts Set New Price Targets

Several research firms recently weighed in on UMH. StockNews.com cut shares of UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Compass Point upped their price objective on shares of UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Wedbush restated a “neutral” rating and issued a $17.00 price objective on shares of UMH Properties in a research report on Monday, March 25th. Finally, B. Riley started coverage on UMH Properties in a research note on Thursday, March 21st. They issued a “buy” rating and a $18.50 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.00.

Read Our Latest Research Report on UMH Properties

Institutional Trading of UMH Properties

Several hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. boosted its stake in UMH Properties by 2.4% in the fourth quarter. American International Group Inc. now owns 24,071 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 558 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of UMH Properties by 1.3% during the first quarter. Rhumbline Advisers now owns 53,796 shares of the real estate investment trust’s stock valued at $1,323,000 after purchasing an additional 702 shares during the period. Stifel Financial Corp boosted its stake in shares of UMH Properties by 0.6% during the fourth quarter. Stifel Financial Corp now owns 123,239 shares of the real estate investment trust’s stock valued at $1,888,000 after purchasing an additional 768 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of UMH Properties by 22.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,546 shares of the real estate investment trust’s stock valued at $73,000 after purchasing an additional 832 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of UMH Properties by 3.8% during the fourth quarter. Legal & General Group Plc now owns 23,173 shares of the real estate investment trust’s stock valued at $373,000 after purchasing an additional 854 shares during the period. Hedge funds and other institutional investors own 75.40% of the company’s stock.

UMH Properties Company Profile

(Get Free Report)

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.

See Also

Dividend History for UMH Properties (NYSE:UMH)

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