UMH Properties, Inc. (NYSE:UMH – Get Free Report) announced a quarterly dividend on Wednesday, April 1st. Investors of record on Friday, May 15th will be given a dividend of 0.225 per share by the real estate investment trust on Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, May 15th.
UMH Properties has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. UMH Properties has a payout ratio of 409.1% 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 $1.07 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 84.1%.
UMH Properties Stock Down 0.8%
UMH stock traded down $0.13 during trading on Wednesday, reaching $15.33. The stock had a trading volume of 69,318 shares, compared to its average volume of 585,021. UMH Properties has a 1-year low of $13.93 and a 1-year high of $17.44. The company has a current ratio of 6.97, a quick ratio of 6.97 and a debt-to-equity ratio of 1.20. The company has a market capitalization of $1.31 billion, a P/E ratio of 153.37 and a beta of 0.99. The firm has a fifty day moving average price of $15.05 and a 200 day moving average price of $15.39.
Hedge Funds Weigh In On UMH Properties
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cloud Capital Management LLC bought a new stake in UMH Properties during the 3rd quarter valued at $29,000. Summit Securities Group LLC acquired a new position in shares of UMH Properties during the first quarter valued at $46,000. Danske Bank A S bought a new stake in shares of UMH Properties during the fourth quarter valued at about $49,000. Quantbot Technologies LP acquired a new stake in UMH Properties in the second quarter worth about $52,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in UMH Properties by 96.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,495 shares of the real estate investment trust’s stock worth $56,000 after purchasing an additional 1,720 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.
About UMH Properties
UMH Properties, Inc is a self-administered real estate investment trust (REIT) that specializes in the ownership, operation, acquisition and development of manufactured home communities and recreational vehicle (RV) communities. The company’s business model centers on providing affordable housing solutions by offering land lease lots and home sales in well-maintained, amenity-rich settings. UMH Properties focuses on maximizing occupancy and enhancing tenant satisfaction through professional on-site management and ongoing community improvements.
The company generates revenue through rental lot fees, home sales and related community services.
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