UMH Properties, Inc. (UMH) Announces Quarterly Dividend of $0.18
UMH Properties, Inc. (NYSE:UMH) announced a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, November 15th will be paid a dividend of 0.18 per share by the real estate investment trust on Friday, December 15th. This represents a $0.72 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Tuesday, November 14th.
UMH Properties has a payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect UMH Properties to earn ($0.10) per share next year, which means the company may not be able to cover its $0.72 annual dividend with an expected future payout ratio of -720.0%.
UMH Properties (UMH) traded up 0.58% on Tuesday, reaching $15.68. 132,402 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $15.61 and its 200 day moving average price is $16.12. The company’s market cap is $531.47 million. UMH Properties has a 12 month low of $11.28 and a 12 month high of $17.90.
In related news, Director James E. Mitchell acquired 3,000 shares of the stock in a transaction on Friday, July 21st. The stock was acquired at an average price of $25.00 per share, for a total transaction of $75,000.00. Following the completion of the purchase, the director now owns 3,000 shares of the company’s stock, valued at $75,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have purchased 3,764 shares of company stock valued at $86,998. 11.61% of the stock is owned by corporate insiders.
A number of analysts have recently weighed in on UMH shares. Zacks Investment Research raised shares of UMH Properties from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a research report on Thursday, September 14th. ValuEngine lowered shares of UMH Properties from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. FBR & Co reissued an “outperform” rating and set a $18.50 price target on shares of UMH Properties in a research report on Tuesday, July 11th. BidaskClub raised shares of UMH Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. Finally, Janney Montgomery Scott started coverage on shares of UMH Properties in a research note on Friday, September 8th. They set a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. UMH Properties currently has an average rating of “Buy” and an average price target of $18.70.
UMH Properties Company Profile
UMH Properties, Inc (UMH) is a real estate investment trust (REIT). The Company’s primary business is the ownership and operation of manufactured home communities, including leasing manufactured home sites to private manufactured home owners. The Company also leases homes to residents, and through its taxable REIT subsidiary, UMH Sales and Finance, Inc (S&F), conducts manufactured home sales in its communities.
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