UMH Preferred: A 7.3% Yield And A Discount To Par
UMH Properties' 6.375% Series D preferred shares are trading about 12.5% below par value. The shares generate an approximate 7.3% yield. The issue benefits from solid funds‑from‑operations coverage.
- ▪The Series D preferred shares have a coupon of 6.375%.
- ▪They are priced roughly 12.5% under their $25 par value.
- ▪Current yield is estimated at about 7.3%.
- ▪Funds‑from‑operations provide sufficient coverage for the dividend.
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