UMH Properties, Inc. (NYSE:UMH) Plans Dividend Increase - $0.23 Per Share

UMH Properties, Inc. (NYSE:UMH - Get Free Report) declared a quarterly dividend on Tuesday, April 1st, RTT News reports. Stockholders 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 dividend yield of 5.04%. The ex-dividend date is Thursday, May 15th. This is a 4.7% increase from UMH Properties's previous quarterly dividend of $0.22.

UMH Properties has increased its dividend by an average of 173.6% per year over the last three years. UMH Properties has a payout ratio of 346.2% 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 $0.90 annual dividend with an expected future payout ratio of 90.0%.

UMH Properties Stock Performance

Shares of NYSE:UMH traded down $0.93 during trading on Friday, reaching $17.85. 738,170 shares of the company's stock traded hands, compared to its average volume of 420,356. The stock has a market capitalization of $1.47 billion, a P/E ratio of 137.32, a price-to-earnings-growth ratio of 2.93 and a beta of 1.17. UMH Properties has a 12 month low of $14.73 and a 12 month high of $20.64. The company has a 50 day moving average of $18.24 and a 200-day moving average of $18.71. The company has a debt-to-equity ratio of 1.11, a current ratio of 8.48 and a quick ratio of 8.48.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on UMH shares. StockNews.com raised shares of UMH Properties from a "sell" rating to a "hold" rating in a research note on Thursday, March 27th. Wedbush reiterated a "neutral" rating and set a $20.00 price objective on shares of UMH Properties in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, UMH Properties currently 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.