UMH Properties, Inc. (NYSE:UMH – Get Rating) announced a quarterly dividend on Friday, April 1st, Zacks reports. Stockholders of record on Monday, May 16th will be paid a dividend of 0.20 per share by the real estate investment trust on Wednesday, June 15th. This represents a $0.80 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, May 13th.
UMH Properties has raised its dividend by an average of 1.8% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. UMH Properties has a dividend payout ratio of 275.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect UMH Properties to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 66.7%.
Shares of UMH stock traded up $0.08 during trading on Wednesday, hitting $19.64. The company’s stock had a trading volume of 1,198 shares, compared to its average volume of 310,812. The company has a market cap of $1.07 billion, a PE ratio of 102.95, a P/E/G ratio of 4.40 and a beta of 1.14. The company has a current ratio of 16.65, a quick ratio of 8.00 and a debt-to-equity ratio of 2.00. The business has a fifty day moving average of $23.92 and a 200-day moving average of $24.05. UMH Properties has a 52 week low of $19.44 and a 52 week high of $27.50.
In related news, Director Steven B. Wolgin sold 2,750 shares of the firm’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $24.40, for a total value of $67,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven B. Wolgin sold 4,285 shares of UMH Properties stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $23.09, for a total transaction of $98,940.65. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 1,132 shares of company stock worth $26,767 and have sold 8,710 shares worth $206,663. 9.23% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Comerica Bank acquired a new position in shares of UMH Properties during the third quarter worth $208,000. BNP Paribas Arbitrage SA grew its position in shares of UMH Properties by 474.4% during the third quarter. BNP Paribas Arbitrage SA now owns 9,184 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 7,585 shares during the last quarter. LPL Financial LLC bought a new position in shares of UMH Properties during the third quarter worth about $216,000. Citigroup Inc. grew its position in shares of UMH Properties by 32.0% during the fourth quarter. Citigroup Inc. now owns 11,862 shares of the real estate investment trust’s stock worth $324,000 after acquiring an additional 2,874 shares during the last quarter. Finally, Legal & General Group Plc grew its position in UMH Properties by 4.0% in the 4th quarter. Legal & General Group Plc now owns 19,046 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 730 shares in the last quarter. Institutional investors own 69.02% of the company’s stock.
A number of brokerages recently issued reports on UMH. Zacks Investment Research downgraded UMH Properties from a “buy” rating to a “hold” rating in a research report on Tuesday. Maxim Group reissued a “buy” rating and issued a $28.00 price target on shares of UMH Properties in a research report on Friday, May 6th. B. Riley lowered their price objective on UMH Properties from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. Colliers Securities started coverage on UMH Properties in a report on Wednesday, January 19th. They issued a “neutral” rating and a $26.00 target price on the stock. Finally, StockNews.com initiated coverage on UMH Properties in a research note on Thursday, March 31st. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, UMH Properties presently has a consensus rating of “Hold” and a consensus target price of $26.92.
UMH Properties Company Profile (Get Rating)
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 124 manufactured home communities containing approximately 23,400 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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