Monmouth R.E. Inv. Corp. (MNR) Expected to Post Quarterly Sales of $33.71 Million

Wall Street analysts forecast that Monmouth R.E. Inv. Corp. (NYSE:MNR) will report sales of $33.71 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Monmouth R.E. Inv.’s earnings. The lowest sales estimate is $32.93 million and the highest is $34.11 million. Monmouth R.E. Inv. reported sales of $27.31 million during the same quarter last year, which indicates a positive year-over-year growth rate of 23.4%. The firm is expected to report its next earnings results on Wednesday, May 2nd.

On average, analysts expect that Monmouth R.E. Inv. will report full-year sales of $33.71 million for the current fiscal year, with estimates ranging from $134.51 million to $141.77 million. For the next financial year, analysts forecast that the firm will post sales of $156.63 million per share, with estimates ranging from $145.90 million to $168.82 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Monmouth R.E. Inv..

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Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Monmouth R.E. Inv. had a return on equity of 9.08% and a net margin of 36.04%. The company had revenue of $32.95 million during the quarter, compared to analysts’ expectations of $32.48 million.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. B. Riley lowered Monmouth R.E. Inv. from a “buy” rating to a “neutral” rating and decreased their target price for the company from $18.50 to $16.50 in a research report on Friday, February 9th. BMO Capital Markets reiterated a “hold” rating and set a $18.00 target price on shares of Monmouth R.E. Inv. in a research report on Tuesday, January 9th. Finally, National Securities increased their target price on Monmouth R.E. Inv. from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Monmouth R.E. Inv. has an average rating of “Hold” and an average target price of $17.50.

In other Monmouth R.E. Inv. news, Director Catherine B. Elflein bought 3,460 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were purchased at an average price of $14.38 per share, for a total transaction of $49,754.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought a total of 3,672 shares of company stock worth $52,752 in the last quarter. Insiders own 5.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MNR. First Trust Advisors LP raised its stake in Monmouth R.E. Inv. by 151.5% in the 3rd quarter. First Trust Advisors LP now owns 54,007 shares of the real estate investment trust’s stock valued at $874,000 after purchasing an additional 32,533 shares during the last quarter. Principal Financial Group Inc. raised its stake in Monmouth R.E. Inv. by 9.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,061,677 shares of the real estate investment trust’s stock valued at $17,189,000 after purchasing an additional 95,588 shares during the last quarter. Swiss National Bank raised its stake in Monmouth R.E. Inv. by 5.3% in the 3rd quarter. Swiss National Bank now owns 109,200 shares of the real estate investment trust’s stock valued at $1,768,000 after purchasing an additional 5,500 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Monmouth R.E. Inv. by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 774,598 shares of the real estate investment trust’s stock valued at $12,541,000 after purchasing an additional 38,727 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Monmouth R.E. Inv. by 77.4% in the 3rd quarter. SG Americas Securities LLC now owns 11,868 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 5,179 shares during the last quarter. 65.35% of the stock is owned by hedge funds and other institutional investors.

Shares of MNR stock opened at $14.82 on Wednesday. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.85 and a quick ratio of 6.85. Monmouth R.E. Inv. has a 52-week low of $13.78 and a 52-week high of $18.45. The company has a market capitalization of $1,159.94, a P/E ratio of 18.66, a price-to-earnings-growth ratio of 2.37 and a beta of 0.59.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 15th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.59%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is 170.00%.

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Monmouth R.E. Inv. Company Profile

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

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Earnings History and Estimates for Monmouth R.E. Inv. (NYSE:MNR)

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