UMH Properties, Inc. (UMH) to Issue Quarterly Dividend of $0.22 on June 17th

UMH Properties, Inc. (NYSE:UMHGet Free Report) declared a quarterly dividend on Monday, April 1st, Zacks reports. Shareholders 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 dividend on an annualized basis and a 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 by an average of 4.4% per year over the last three years and has increased its dividend every year for the last 3 years. UMH Properties has a dividend 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 Price Performance

Shares of UMH Properties stock opened at $16.02 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 6.52 and a quick ratio of 6.52. The business’s 50 day simple moving average is $15.33 and its two-hundred day simple moving average is $14.83. The stock has a market capitalization of $1.11 billion, a P/E ratio of -106.76, a price-to-earnings-growth ratio of 2.86 and a beta of 1.24. UMH Properties has a one year low of $13.26 and a one year high of $16.85.

Institutional Investors Weigh In On UMH Properties

A number of large investors have recently made changes to their positions in UMH. Federated Hermes Inc. grew its position in shares of UMH Properties by 54.9% in the 3rd quarter. Federated Hermes Inc. now owns 2,414 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 856 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of UMH Properties during the first quarter valued at approximately $58,000. Quantbot Technologies LP boosted its position in shares of UMH Properties by 1,600.0% during the second quarter. Quantbot Technologies LP now owns 3,400 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 3,200 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position 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 in the last quarter. Finally, Quarry LP boosted its position in shares of UMH Properties by 344.6% during the first quarter. Quarry LP now owns 5,713 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 4,428 shares in the last quarter. 75.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UMH has been the topic of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $17.00 price target on shares of UMH Properties in a research note on Monday, March 25th. Compass Point lifted their price target on UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a research note on Thursday, March 21st. StockNews.com lowered UMH Properties from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, B. Riley assumed coverage on UMH Properties in a research report on Thursday, March 21st. They issued a “buy” rating and a $18.50 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.00.

View Our Latest Analysis on UMH

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.

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Dividend History for UMH Properties (NYSE:UMH)

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