According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
MNR has been the subject of a number of other reports. B. Riley reiterated a buy rating on shares of Monmouth R.E. Inv. in a report on Tuesday, October 15th. BMO Capital Markets set a $15.00 price objective on shares of Monmouth R.E. Inv. and gave the company a hold rating in a report on Friday, August 2nd. Finally, Compass Point started coverage on shares of Monmouth R.E. Inv. in a report on Friday, September 6th. They set a buy rating and a $16.50 price objective for the company. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Monmouth R.E. Inv. presently has a consensus rating of Hold and a consensus target price of $15.40.
Shares of NYSE MNR traded down $0.03 during mid-day trading on Friday, reaching $14.72. 214,746 shares of the company’s stock traded hands, compared to its average volume of 434,554. The stock has a market cap of $1.42 billion, a P/E ratio of 16.92 and a beta of 0.62. The business has a 50-day simple moving average of $14.58 and a 200 day simple moving average of $13.92. Monmouth R.E. Inv. has a 1-year low of $11.88 and a 1-year high of $15.23. The company has a debt-to-equity ratio of 1.34, a current ratio of 6.64 and a quick ratio of 6.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Thursday, November 14th. Monmouth R.E. Inv.’s dividend payout ratio is currently 78.16%.
In related news, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.02, for a total transaction of $104,160.00. Following the transaction, the chairman now directly owns 895,219 shares in the company, valued at $11,655,751.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Umh Properties, Inc. purchased 17,810 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $13.70 per share, for a total transaction of $243,997.00. Insiders have bought 24,880 shares of company stock valued at $338,088 over the last quarter. Corporate insiders own 4.02% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MNR. Optimum Investment Advisors purchased a new position in Monmouth R.E. Inv. during the third quarter worth about $43,000. Point72 Hong Kong Ltd purchased a new position in Monmouth R.E. Inv. during the second quarter worth about $51,000. Tower Research Capital LLC TRC raised its position in Monmouth R.E. Inv. by 140.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,066 shares during the period. Kavar Capital Partners LLC bought a new stake in Monmouth R.E. Inv. in the second quarter worth about $56,000. Finally, WealthStone Inc. bought a new stake in Monmouth R.E. Inv. in the second quarter worth about $58,000. Institutional investors and hedge funds own 68.78% of the company’s stock.
Monmouth R.E. Inv. Company Profile
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 21.8 million rentable square feet, geographically diversified across 30 states.
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