UMH Properties
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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 Year Returns
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.
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for UMH Properties.
| 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.
| 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.
| 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 | ||
| 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 |
| 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 |
| 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
Current Discount Checks
- 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?
| 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.
| 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?
| 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?
| 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 |
| 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.
Value checks
We assess UMH Properties's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- 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
| 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
| 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 |
| 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 |
| 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.
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.
| 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 |
| 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.
Future performance checks
We assess UMH Properties's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from UMH Properties Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| 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.
Past performance checks
We assess UMH Properties's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from UMH Properties Company Filings, last reported 1 month ago.
| 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.
Financial health checks
We assess UMH Properties's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) UMH Properties has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
$2,000 of
UMH Properties
shares you are expected to receive
$108
in your first year as a dividend.
Dividend Amount
- 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.
| 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.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-12-31 | 0.72 | 2.00 |
| 2019-12-31 | 0.72 | 3.00 |
| 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.
Income/ dividend checks
We assess UMH Properties's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) 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
CEO
| 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:
- 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
Founder & Chairman of the Board
$665K
84
51.3 yrs
Samuel Landy
President
$3M
58
24.3 yrs
Anna Chew
VP, Chief Financial & Accounting Officer
$3M
59
24.3 yrs
Craig Koster
General Counsel & Secretary
$387K
42
4.3 yrs
Brett Taft
Vice President
$356K
28
3.3 yrs
Jeff Wolfe
Vice President of Operations
Nelli Madden
Director of Investor Relations
Christine Lindsey
Vice President of Sales
15.9 yrs
Kristin Langley
Controller
Jeffrey Yorick
Vice President of Engineering
15.3 yrs
Board of Directors Tenure
Average tenure and age of the UMH Properties board of directors in years:
- 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
Founder & Chairman of the Board
$665K
84
24.3 yrs
Samuel Landy
President
$3M
58
27.3 yrs
Anna Chew
VP, Chief Financial & Accounting Officer
$3M
59
24.3 yrs
Steve Wolgin
Independent Director
$83K
64
12 yrs
Jeffrey Carus
Independent Director
$82K
55
8.1 yrs
Matthew Hirsch
Presiding Independent Director
$75K
59
3.1 yrs
Jim Mitchell
Independent Director
$82K
78
18.3 yrs
Michael Landy
Director
$74K
56
8.1 yrs
Stuart Levy
Independent Director
$83K
48
7.7 yrs
Ken Quigley
Independent Director
$75K
61
3.1 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by UMH Properties insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | 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 | ||
Management checks
We assess UMH Properties's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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 - – Full articleHave 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 - – Full articleDid 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 - – Full articleWhat 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 - – Full articleIs 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 - – Full articleHave 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 - – Full articleDo 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 - – Full articleHow 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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleUMH 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
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.
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