Shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) have been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $16.20.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Tuesday. Royal Bank of Canada assumed coverage on shares of Monmouth R.E. Inv. in a research report on Friday, March 29th. They set a “sector perform” rating and a $14.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Monmouth R.E. Inv. in a research report on Friday, March 8th. They set a “neutral” rating and a $14.00 price target for the company. ValuEngine downgraded shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. Finally, TheStreet downgraded shares of Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a research report on Friday, February 15th.
In related news, Chairman Eugene W. Landy sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $13.34, for a total value of $266,800.00. Following the sale, the chairman now owns 918,733 shares in the company, valued at $12,255,898.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Landy bought 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was bought at an average price of $13.18 per share, for a total transaction of $27,678.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 22,713 shares of company stock valued at $287,689 and have sold 29,000 shares valued at $396,800. 4.02% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of MNR. Ronna Sue Cohen boosted its holdings in Monmouth R.E. Inv. by 1,279.3% in the first quarter. Ronna Sue Cohen now owns 1,977,103 shares of the real estate investment trust’s stock worth $1,977,000 after purchasing an additional 1,833,764 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in Monmouth R.E. Inv. in the fourth quarter worth approximately $11,179,000. CI Investments Inc. purchased a new stake in Monmouth R.E. Inv. in the fourth quarter worth approximately $11,164,000. BlackRock Inc. boosted its holdings in Monmouth R.E. Inv. by 12.1% in the fourth quarter. BlackRock Inc. now owns 8,336,117 shares of the real estate investment trust’s stock worth $103,368,000 after purchasing an additional 898,719 shares during the last quarter. Finally, Resolution Capital Ltd purchased a new stake in Monmouth R.E. Inv. in the fourth quarter worth approximately $10,069,000. Institutional investors own 68.08% of the company’s stock.
Shares of NYSE MNR traded up $0.25 on Thursday, reaching $13.36. 266,104 shares of the company’s stock traded hands, compared to its average volume of 525,046. Monmouth R.E. Inv. has a 12 month low of $11.88 and a 12 month high of $17.51. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 15.36, a P/E/G ratio of 2.04 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.46 and a current ratio of 7.46.
Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported ($0.36) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.59). The firm had revenue of $39.15 million for the quarter, compared to the consensus estimate of $40.22 million. Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.27%. On average, analysts forecast that Monmouth R.E. Inv. will post 0.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend is Tuesday, May 14th. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is currently 78.16%.
About Monmouth R.E. Inv.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 113 properties containing a total of approximately 21.6 million rentable square feet, geographically diversified across 30 states.
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