UMH Properties, Inc. (NYSE:UMH) Increases Dividend to $0.23 Per Share

UMH Properties, Inc. (NYSE:UMH - Get Free Report) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Investors of record on Thursday, May 15th will be paid 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 4.95%. The ex-dividend date of this dividend is Thursday, May 15th. 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. 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 Down 3.2 %

Shares of NYSE:UMH traded down $0.61 during midday trading on Friday, reaching $18.17. The company had a trading volume of 354,241 shares, compared to its average volume of 418,099. The stock has a market cap of $1.50 billion, a PE ratio of 140.01, a P/E/G 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. The business's 50 day moving average price is $18.24 and its 200 day moving average price is $18.74. UMH Properties has a 1-year low of $14.73 and a 1-year high of $20.64.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on UMH shares. StockNews.com raised shares of UMH Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 27th. Wedbush reissued a "neutral" rating and set a $20.00 target price on shares of UMH Properties in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, UMH Properties presently has a consensus rating of "Hold" and an average target price of $21.17.

UMH Properties Company Profile

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.