UMH Properties, Inc. (UMH) To Go Ex-Dividend on August 15th

UMH Properties, Inc. (NYSE:UMH) declared a quarterly dividend on Monday, July 1st, Wall Street Journal reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.215 per share by the real estate investment trust on Monday, September 16th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Thursday, August 15th.

UMH Properties has a dividend payout ratio of 1,075.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect UMH Properties to earn $1.02 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 84.3%.

UMH Properties Stock Up 0.1 %

Shares of UMH traded up $0.01 during trading hours on Wednesday, reaching $16.13. The company’s stock had a trading volume of 9,982 shares, compared to its average volume of 374,623. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -107.46, a P/E/G ratio of 2.93 and a beta of 1.29. UMH Properties has a 1-year low of $13.26 and a 1-year high of $16.85. The company has a quick ratio of 6.82, a current ratio of 6.82 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average of $15.54 and a two-hundred day moving average of $15.43.

Insider Activity

In other news, CEO Samuel A. Landy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,149,565 shares in the company, valued at $17,254,970.65. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other UMH Properties news, Director Michael P. Landy bought 4,700 shares of the stock in a transaction dated Tuesday, June 18th. The stock was bought at an average cost of $15.45 per share, for a total transaction of $72,615.00. Following the completion of the purchase, the director now owns 341,796 shares in the company, valued at approximately $5,280,748.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samuel A. Landy sold 25,000 shares of UMH Properties stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $15.01, for a total value of $375,250.00. Following the completion of the sale, the chief executive officer now owns 1,149,565 shares of the company’s stock, valued at $17,254,970.65. The disclosure for this sale can be found here. 8.63% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on UMH shares. Compass Point increased their price objective on UMH Properties from $20.00 to $21.50 and gave the stock a “buy” rating in a report on Thursday, March 21st. B. Riley restated a “buy” rating and issued a $18.50 price objective on shares of UMH Properties in a report on Thursday, May 30th. Wedbush restated a “neutral” rating and issued a $17.00 price objective on shares of UMH Properties in a report on Monday, May 13th. William Blair reaffirmed a “neutral” rating on shares of UMH Properties in a research report on Monday, May 13th. Finally, StockNews.com raised UMH Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, June 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.00.

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.