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UMH Properties

NYSE:UMH
Snowflake Description

Adequate balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
UMH
NYSE
$527M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 21 days ago. More info.


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UMH Share Price and Events
7 Day Returns
1.1%
NYSE:UMH
-0.3%
US REITs
0.2%
US Market
1 Year Returns
-10.7%
NYSE:UMH
13.3%
US REITs
2.9%
US Market
UMH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
UMH Properties (UMH) 1.1% -3.8% -4.7% -10.7% 36% 35.3%
US REITs -0.3% 3.5% 3.2% 13.3% 11.3% 24.8%
US Market 0.2% -1.6% 2.4% 2.9% 36.1% 41%
1 Year Return vs Industry and Market
  • UMH underperformed the REITs industry which returned 13.3% over the past year.
  • UMH underperformed the Market in United States of America which returned 2.9% over the past year.
Price Volatility
UMH
Industry
5yr Volatility vs Market

UMH Value

 Is UMH Properties undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of UMH Properties to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for UMH Properties.

NYSE:UMH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:UMH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.529 (1 + (1- 21%) (84.85%))
0.922
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.922 * 5.96%)
8.23%

Discounted Cash Flow Calculation for NYSE:UMH using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for UMH Properties is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

UMH Properties is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:UMH DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 8.23%)
2019 30.97 Analyst x2 28.61
2020 34.50 Analyst x1 29.46
2021 35.84 Est @ 3.87% 28.27
2022 37.11 Est @ 3.53% 27.05
2023 38.33 Est @ 3.29% 25.81
2024 39.52 Est @ 3.12% 24.59
2025 40.71 Est @ 3% 23.41
2026 41.90 Est @ 2.92% 22.26
2027 43.10 Est @ 2.86% 21.16
2028 44.32 Est @ 2.82% 20.10
Present value of next 10 years cash flows $250.72
NYSE:UMH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $44.32 × (1 + 2.73%) ÷ (8.23% – 2.73%)
$828.19
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $828.19 ÷ (1 + 8.23%)10
$375.63
NYSE:UMH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $250.72 + $375.63
$626.35
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $626.35 / 39.51
$15.85
NYSE:UMH Discount to Share Price
Calculation Result
Value per share (USD) From above. $15.85
Current discount Discount to share price of $13.34
= -1 x ($13.34 - $15.85) / $15.85
15.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price UMH Properties is available for.
Intrinsic value
16%
Share price is $13.34 vs Future cash flow value of $15.85
Current Discount Checks
For UMH Properties to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • UMH Properties's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • UMH Properties's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for UMH Properties's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are UMH Properties's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:UMH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-0.62
NYSE:UMH Share Price ** NYSE (2019-05-23) in USD $13.34
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.92x
United States of America Market PE Ratio Median Figure of 3,085 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of UMH Properties.

NYSE:UMH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:UMH Share Price ÷ EPS (both in USD)

= 13.34 ÷ -0.62

-21.35x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • UMH Properties is loss making, we can't compare its value to the US REITs industry average.
  • UMH Properties is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does UMH Properties's expected growth come at a high price?
Raw Data
NYSE:UMH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -21.35x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
75.3%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.41x
United States of America Market PEG Ratio Median Figure of 2,123 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for UMH Properties, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on UMH Properties's assets?
Raw Data
NYSE:UMH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $3.73
NYSE:UMH Share Price * NYSE (2019-05-23) in USD $13.34
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.89x
United States of America Market PB Ratio Median Figure of 5,201 Publicly-Listed Companies 1.84x
NYSE:UMH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:UMH Share Price ÷ Book Value per Share (both in USD)

= 13.34 ÷ 3.73

3.58x

* Primary Listing of UMH Properties.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • UMH Properties is overvalued based on assets compared to the US REITs industry average.
X
Value checks
We assess UMH Properties's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. UMH Properties has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

UMH Future Performance

 How is UMH Properties expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
75.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is UMH Properties expected to grow at an attractive rate?
  • Unable to compare UMH Properties's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare UMH Properties's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • UMH Properties's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:UMH Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:UMH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 75.3%
NYSE:UMH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 11%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.7%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:UMH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:UMH Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 164 -7 1
2019-12-31 155 0 2
NYSE:UMH Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 134 42 -23
2018-12-31 130 40 -57
2018-09-30 124 37 -24
2018-06-30 119 39 -18
2018-03-31 116 40 -33
2017-12-31 113 41 -8
2017-09-30 109 37 -7
2017-06-30 106 34 -3
2017-03-31 102 33 -3
2016-12-31 99 29 -3
2016-09-30 96 33 -5
2016-06-30 92 27 -5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • UMH Properties is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • UMH Properties's revenue is expected to grow by 11% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:UMH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from UMH Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:UMH Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 -0.18 -0.18 -0.18 1.00
2019-12-31 -0.01 0.03 -0.04 2.00
NYSE:UMH Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -0.62
2018-12-31 -1.53
2018-09-30 -0.68
2018-06-30 -0.51
2018-03-31 -0.98
2017-12-31 -0.24
2017-09-30 -0.23
2017-06-30 -0.09
2017-03-31 -0.11
2016-12-31 -0.09
2016-09-30 -0.17
2016-06-30 -0.18

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if UMH Properties will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess UMH Properties's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
UMH Properties has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

UMH Past Performance

  How has UMH Properties performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare UMH Properties's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • UMH Properties does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare UMH Properties's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare UMH Properties's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
UMH Properties's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from UMH Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:UMH Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 134.08 -23.46 14.23
2018-12-31 129.59 -56.53 14.13
2018-09-30 124.04 -24.47 13.68
2018-06-30 119.28 -18.18 13.28
2018-03-31 116.00 -33.33 12.94
2017-12-31 112.65 -7.68 12.74
2017-09-30 109.10 -7.30 12.31
2017-06-30 105.77 -2.71 12.22
2017-03-31 102.16 -3.19 11.34
2016-12-31 99.21 -2.57 10.86
2016-09-30 95.99 -4.58 10.93
2016-06-30 92.33 -4.83 10.42
2016-03-31 86.68 -5.84 10.27
2015-12-31 81.52 -6.12 10.13
2015-09-30 78.47 -4.02 9.54
2015-06-30 75.33 -4.44 9.30
2015-03-31 73.93 -3.17 9.37
2014-12-31 71.43 -3.32 9.45
2014-09-30 68.98 -5.62 9.68
2014-06-30 66.68 -5.44 9.56
2014-03-31 64.63 -5.30 8.99
2013-12-31 62.21 -1.72 8.39
2013-09-30 58.38 0.34 7.82
2013-06-30 54.32 1.59 7.36
2013-03-31 49.36 2.95 7.24
2012-12-31 46.83 1.75 7.40
2012-09-30 45.25 2.16 6.58
2012-06-30 42.73 2.10 6.58

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if UMH Properties has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if UMH Properties has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if UMH Properties improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess UMH Properties's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
UMH Properties has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

UMH Health

 How is UMH Properties's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up UMH Properties's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • UMH Properties is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • UMH Properties's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of UMH Properties's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from UMH Properties Company Filings, last reported 1 month ago.

NYSE:UMH Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 434.69 447.24 7.35
2018-12-31 424.70 439.08 7.43
2018-09-30 453.11 400.45 8.88
2018-06-30 462.53 386.42 15.23
2018-03-31 446.55 353.70 25.95
2017-12-31 421.22 389.60 23.24
2017-09-30 417.74 354.30 14.84
2017-06-30 356.99 375.48 8.17
2017-03-31 324.93 387.38 8.31
2016-12-31 317.03 351.31 4.22
2016-09-30 313.91 341.62 3.71
2016-06-30 307.31 331.95 9.59
2016-03-31 249.55 360.63 7.91
2015-12-31 246.24 340.91 6.54
2015-09-30 204.62 335.27 7.90
2015-06-30 205.55 289.36 9.03
2015-03-31 211.91 269.72 11.08
2014-12-31 208.83 260.15 8.08
2014-09-30 201.00 256.21 2.66
2014-06-30 201.18 239.58 11.01
2014-03-31 196.87 231.30 7.76
2013-12-31 190.59 209.80 7.62
2013-09-30 186.39 197.21 7.79
2013-06-30 185.08 192.11 14.34
2013-03-31 182.68 174.21 8.49
2012-12-31 174.99 119.69 11.04
2012-09-30 143.41 131.75 4.44
2012-06-30 145.39 104.88 20.93
  • UMH Properties's level of debt (102.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (117.5% vs 102.9% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making UMH Properties has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making UMH Properties has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -14% per year.
X
Financial health checks
We assess UMH Properties's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. UMH Properties has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

UMH Dividends

 What is UMH Properties's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.4%
Current annual income from UMH Properties dividends. Estimated to be 5.4% next year.
If you bought $2,000 of UMH Properties shares you are expected to receive $108 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • UMH Properties's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.45%).
  • UMH Properties's dividend is above the markets top 25% of dividend payers in United States of America (3.7%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:UMH Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2005 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:UMH Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.72 2.00
2019-12-31 0.72 3.00
NYSE:UMH Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-01 0.720 5.281
2019-01-15 0.720 5.290
2018-10-01 0.720 5.427
2018-07-02 0.720 4.584
2018-04-02 0.720 5.118
2018-01-25 0.720 5.717
2017-10-02 0.720 4.809
2017-07-03 0.720 4.505
2017-04-03 0.720 4.375
2017-01-20 0.720 4.936
2016-10-03 0.720 5.536
2016-07-01 0.720 5.964
2016-04-04 0.720 7.119
2016-01-20 0.720 7.489
2015-10-01 0.720 7.339
2015-07-01 0.720 7.570
2015-04-01 0.720 7.207
2015-01-21 0.720 7.440
2014-10-01 0.720 7.476
2014-07-01 0.720 7.232
2014-04-01 0.720 7.296
2014-01-15 0.720 7.612
2013-10-01 0.720 7.445
2013-07-01 0.720 7.032
2013-04-08 0.720 6.693
2013-01-16 0.720 6.989
2012-10-01 0.720 6.838
2012-07-09 0.720 6.286
2012-04-17 0.720 6.665
2012-01-18 0.720 6.873
2011-10-04 0.720 7.638
2011-07-05 0.720 7.316
2011-04-06 0.720 7.056
2011-01-13 0.720 7.031
2010-10-01 0.720 7.031
2010-07-01 0.720 6.842
2010-04-08 0.720 7.638
2010-01-14 0.720 8.873
2009-10-06 0.720 9.095
2009-08-05 0.720 8.780

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of UMH Properties's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess UMH Properties's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can UMH Properties afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. UMH Properties has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

UMH Management

 What is the CEO of UMH Properties's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Samuel Landy
COMPENSATION $3,287,343
AGE 58
TENURE AS CEO 24.3 years
CEO Bio

Mr. Samuel A. Landy has been Chief Executive Officer and President of UMH Properties Inc. since 1995. Mr. Landy served as the Vice President at UMH Properties from 1991 to 1995. He has been a Director of Monmouth Real Estate Investment Corporation since 1989. He has been a Director of UMH Properties Inc. since 1992. He serves as a Director of Manufactured Housing Institute. He served as a Director Emeritus of Monmouth Capital Corporation, since September 28, 2004. Mr. Landy served as a Director of Monmouth Capital Corporation from 1994 to September 28, 2004. He is an Attorney at Law since 1985. Mr. Landy has extensive experience in real estate investment and REIT leadership.

CEO Compensation
  • Samuel's compensation has increased whilst company is loss making.
  • Samuel's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the UMH Properties management team in years:

15.9
Average Tenure
58
Average Age
  • The average tenure for the UMH Properties management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Eugene Landy

TITLE
Founder & Chairman of the Board
COMPENSATION
$665K
AGE
84
TENURE
51.3 yrs

Samuel Landy

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
24.3 yrs

Anna Chew

TITLE
VP, Chief Financial & Accounting Officer
COMPENSATION
$3M
AGE
59
TENURE
24.3 yrs

Craig Koster

TITLE
General Counsel & Secretary
COMPENSATION
$387K
AGE
42
TENURE
4.3 yrs

Brett Taft

TITLE
Vice President
COMPENSATION
$356K
AGE
28
TENURE
3.3 yrs

Jeff Wolfe

TITLE
Vice President of Operations

Nelli Madden

TITLE
Director of Investor Relations

Christine Lindsey

TITLE
Vice President of Sales
TENURE
15.9 yrs

Kristin Langley

TITLE
Controller

Jeffrey Yorick

TITLE
Vice President of Engineering
TENURE
15.3 yrs
Board of Directors Tenure

Average tenure and age of the UMH Properties board of directors in years:

10
Average Tenure
59
Average Age
  • The average tenure for the UMH Properties board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Eugene Landy

TITLE
Founder & Chairman of the Board
COMPENSATION
$665K
AGE
84
TENURE
24.3 yrs

Samuel Landy

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
27.3 yrs

Anna Chew

TITLE
VP, Chief Financial & Accounting Officer
COMPENSATION
$3M
AGE
59
TENURE
24.3 yrs

Steve Wolgin

TITLE
Independent Director
COMPENSATION
$83K
AGE
64
TENURE
12 yrs

Jeffrey Carus

TITLE
Independent Director
COMPENSATION
$82K
AGE
55
TENURE
8.1 yrs

Matthew Hirsch

TITLE
Presiding Independent Director
COMPENSATION
$75K
AGE
59
TENURE
3.1 yrs

Jim Mitchell

TITLE
Independent Director
COMPENSATION
$82K
AGE
78
TENURE
18.3 yrs

Michael Landy

TITLE
Director
COMPENSATION
$74K
AGE
56
TENURE
8.1 yrs

Stuart Levy

TITLE
Independent Director
COMPENSATION
$83K
AGE
48
TENURE
7.7 yrs

Ken Quigley

TITLE
Independent Director
COMPENSATION
$75K
AGE
61
TENURE
3.1 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by UMH Properties insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Mar 19 Buy James Mitchell Individual 15. Mar 19 15. Mar 19 15,385 $13.00 $200,000
17. Jan 19 Buy Kenneth Quigley Individual 15. Jan 19 15. Jan 19 84 $11.88 $1,000
18. Dec 18 Buy Kenneth Quigley Individual 17. Dec 18 17. Dec 18 82 $12.25 $1,000
06. Dec 18 Buy Matthew Hirsch Individual 06. Dec 18 06. Dec 18 1,000 $12.77 $12,770
28. Nov 18 Buy Jeffrey Carus Individual 27. Nov 18 27. Nov 18 300 $12.85 $3,855
16. Nov 18 Buy James Mitchell Individual 15. Nov 18 15. Nov 18 16,162 $12.38 $200,000
16. Nov 18 Buy Kenneth Quigley Individual 15. Nov 18 15. Nov 18 81 $12.38 $1,000
16. Nov 18 Buy Matthew Hirsch Individual 15. Nov 18 15. Nov 18 808 $12.38 $10,000
16. Nov 18 Buy Jeffrey Carus Individual 15. Nov 18 15. Nov 18 81 $12.38 $1,000
16. Oct 18 Buy Kenneth Quigley Individual 15. Oct 18 15. Oct 18 70 $14.25 $1,000
16. Aug 18 Buy Kenneth Quigley Individual 15. Aug 18 15. Aug 18 66 $15.25 $1,000
18. Jul 18 Buy Matthew Hirsch Individual 16. Jul 18 16. Jul 18 667 $15.00 $10,000
05. Jul 18 Buy James Mitchell Individual 29. Jun 18 29. Jun 18 400 $15.31 $6,124
25. Jun 18 Buy Kenneth Quigley Individual 21. Jun 18 21. Jun 18 500 $14.75 $7,375
19. Jun 18 Buy Matthew Hirsch Individual 15. Jun 18 15. Jun 18 708 $14.13 $10,000
19. Jun 18 Buy Kenneth Quigley Individual 15. Jun 18 15. Jun 18 71 $14.13 $1,000
X
Management checks
We assess UMH Properties's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. UMH Properties has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

UMH News

Simply Wall St News

Why You Shouldn't Look At UMH Properties, Inc.'s (NYSE:UMH) Bottom Line

Want to participate in a short research study? … A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent … FFO is a cleaner and more representative figure of how much UMH actually makes from its day-to-day operations, compared to net income, which can be affected by one-off activities or non-cash items such as depreciation.

Simply Wall St -

Have Insiders Been Buying UMH Properties, Inc. (NYSE:UMH) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in UMH Properties, Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares. … In the last twelve months UMH Properties insiders were buying shares, but not selling

Simply Wall St -

Did You Miss UMH Properties's (NYSE:UMH) 42% Share Price Gain?

When a company doesn't make profits, we'd generally expect to see good revenue growth. … That's because it's hard to be confident a company will be sustainable if revenue growth is negligible, and it never makes a profit. … While the share price has done well, compounding at 12% yearly, over three years, that move doesn't seem over the top.

Simply Wall St -

What Kind Of Shareholder Owns Most UMH Properties, Inc. (NYSE:UMH) Stock?

Generally speaking, as a company grows, institutions will increase their ownership. … UMH Properties is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Is UMH Properties, Inc.'s (NYSE:UMH) CEO Paid At A Competitive Rate?

Samuel Landy has been the CEO of UMH Properties, Inc. … First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Samuel Landy's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Have Insiders Been Buying UMH Properties, Inc. (NYSE:UMH) Shares?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … In the last twelve months, the biggest single purchase by an insider was when Independent Director James Mitchell bought US$250k worth of shares at a price of US$12.25 per share. … In the last twelve months there was more buying than selling by UMH Properties insiders

Simply Wall St -

Do Directors Own UMH Properties, Inc. (NYSE:UMH) Shares?

So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … UMH Properties is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

How Should You Analyze REIT Stock UMH Properties Inc (NYSE:UMH)?

real estate investment trust (REIT) based in Freehold, United States. … They have to meet certain requirements in order to become a REIT, meaning they should be analyzed a different way. … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

Simply Wall St -

Is UMH Properties Inc's (NYSE:UMH) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Samuel Landy's Compensation Compare With Similar Sized Companies. … According to our data, UMH Properties Inc has a market capitalization of US$572m, and pays its CEO total annual compensation worth US$2m.

Simply Wall St -

Is UMH Properties Inc (NYSE:UMH) A Healthy REIT?

real estate investment trust (REIT) based in Freehold, United States. … REITs own and operate income-generating property and adhere to a different set of regulations. … View out our latest analysis for UMH Properties

Simply Wall St -

UMH Company Info

Description

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. In addition, the Company owns a portfolio of REIT securities.

Details
Name: UMH Properties, Inc.
UMH
Exchange: NYSE
Founded: 1968
$527,074,485
39,510,831
Website: http://www.umh.reit
Address: UMH Properties, Inc.
Juniper Business Plaza,
Suite 3-C,
Freehold,
New Jersey, 07728,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE UMH Common Stock New York Stock Exchange US USD 14. Feb 1985
DB WXE Common Stock Deutsche Boerse AG DE EUR 14. Feb 1985
NYSE UMH.PRB PFD RED SER B New York Stock Exchange US USD 21. Oct 2015
NYSE UMH.PRC 6.75% CUM PFD C New York Stock Exchange US USD 21. Jul 2017
NYSE UMH.PRD 6.375% CUM PFD D New York Stock Exchange US USD 18. Jan 2018
Number of employees
Current staff
Staff numbers
380
UMH Properties employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 23:59
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/07
Last earnings filing: 2019/05/02
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.