UMH PROPERTIES/SH SH (NYSE:UMH) announced a quarterly dividend on Monday, July 1st, Zacks reports. Stockholders of record on Thursday, August 15th will be paid a dividend of 0.18 per share by the real estate investment trust on Monday, September 16th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date of this dividend is Wednesday, August 14th.
UMH PROPERTIES/SH SH has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect UMH PROPERTIES/SH SH to earn $0.80 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 90.0%.
Shares of UMH opened at $12.39 on Tuesday. The company has a debt-to-equity ratio of 3.05, a quick ratio of 2.73 and a current ratio of 2.73. The stock has a 50 day moving average of $12.66. UMH PROPERTIES/SH SH has a 52 week low of $11.14 and a 52 week high of $16.69. The company has a market cap of $487.96 million, a PE ratio of 16.74, a P/E/G ratio of 1.81 and a beta of 0.63.
In other news, insider Umh Properties, Inc. purchased 18,555 shares of the stock in a transaction dated Monday, June 17th. The shares were purchased at an average cost of $13.15 per share, with a total value of $243,998.25. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $13.20, for a total value of $105,600.00. Following the transaction, the chairman now directly owns 623,243 shares in the company, valued at $8,226,807.60. The disclosure for this sale can be found here. Insiders purchased a total of 19,422 shares of company stock worth $254,990 over the last ninety days. 10.84% of the stock is currently owned by insiders.
A number of brokerages have recently commented on UMH. Maxim Group began coverage on UMH PROPERTIES/SH SH in a research report on Thursday, June 6th. They issued a “buy” rating and a $17.00 price target on the stock. DA Davidson reaffirmed a “buy” rating on shares of UMH PROPERTIES/SH SH in a research report on Monday, July 29th. Compass Point assumed coverage on UMH PROPERTIES/SH SH in a research report on Monday, July 22nd. They issued a “buy” rating and a $19.50 price objective on the stock. Finally, Zacks Investment Research cut UMH PROPERTIES/SH SH from a “hold” rating to a “sell” rating in a research report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. UMH PROPERTIES/SH SH has a consensus rating of “Buy” and an average price target of $17.40.
About UMH PROPERTIES/SH SH
UMH Properties, Inc, which was organized in 1968, is a public equity REIT that owns and operates 118 manufactured home communities containing approximately 21,500 developed homesites. These communities are located in New Jersey, New York, Ohio, Pennsylvania, Tennessee, Indiana, Michigan and Maryland.
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