UMH Properties, Inc. (NYSE:UMH) Declares Quarterly Dividend of $0.23

UMH Properties, Inc. (NYSE:UMH) declared 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 dividend on an annualized basis and a yield of 4.82%. This is a 4.7% increase from UMH Properties’s previous quarterly dividend of $0.22.

UMH Properties has raised its dividend payment by an average of 173.6% per year over the last three years. UMH Properties has a payout ratio of 330.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Price Performance

Shares of NYSE UMH traded down $0.02 during mid-day trading on Tuesday, reaching $18.68. 292,513 shares of the company were exchanged, compared to its average volume of 416,876. UMH Properties has a 52 week low of $14.73 and a 52 week high of $20.64. The company’s 50 day moving average price is $18.20 and its 200 day moving average price is $18.75. The stock has a market capitalization of $1.54 billion, a PE ratio of 143.73, a PEG 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 (NYSE:UMH) last released its quarterly earnings results on Wednesday, February 26th. The real estate investment trust reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.21. UMH Properties had a return on equity of 6.06% and a net margin of 11.81%. The business had revenue of ($126.74) million for the quarter, compared to the consensus estimate of $59.73 million. Sell-side analysts forecast that UMH Properties will post 0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

UMH has been the topic of a number of recent research reports. StockNews.com upgraded shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Thursday, March 27th. Wedbush reaffirmed 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.