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

UMH Properties, Inc. (NYSE:UMH - Get Free Report) announced a quarterly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, March 17th. This represents a $0.86 annualized dividend and a yield of 4.71%. The ex-dividend date is Tuesday, February 18th.

UMH Properties has increased its dividend by an average of 225.6% annually over the last three years. UMH Properties has a dividend payout ratio of 344.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Up 0.2 %

Shares of UMH traded up $0.04 during midday trading on Wednesday, hitting $18.24. 306,988 shares of the company's stock traded hands, compared to its average volume of 317,038. The company has a current ratio of 8.48, a quick ratio of 8.48 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 140.32, a price-to-earnings-growth ratio of 3.47 and a beta of 1.29. UMH Properties has a 1 year low of $14.09 and a 1 year high of $20.64. The firm's fifty day moving average is $19.08 and its 200-day moving average is $18.70.

UMH Properties (NYSE:UMH - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.13). UMH Properties had a net margin of 11.81% and a return on equity of 6.06%. The business had revenue of $60.67 million during the quarter, compared to analysts' expectations of $61.57 million. During the same quarter last year, the business posted $0.22 earnings per share. As a group, sell-side analysts anticipate that UMH Properties will post 0.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of UMH Properties from a "sell" rating to a "hold" rating in a research note on Saturday, November 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.25.

Insider Activity at UMH Properties

In other UMH Properties news, CEO Samuel A. Landy sold 50,000 shares of UMH Properties stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.55, for a total transaction of $977,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,104,826 shares in the company, valued at approximately $21,599,348.30. The trade was a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Angela D. Pruitt sold 2,800 shares of the company's stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $19.26, for a total transaction of $53,928.00. Following the completion of the sale, the director now directly owns 7,993 shares in the company, valued at $153,945.18. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 53,845 shares of company stock worth $1,051,210 over the last quarter. Insiders own 8.63% of the company's stock.

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.