AQR Capital Management LLC reduced its position in shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) by 10.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 287,063 shares of the real estate investment trust’s stock after selling 34,688 shares during the period. AQR Capital Management LLC’s holdings in Monmouth Real Estate Investment Corporation were worth $4,097,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Monmouth Real Estate Investment Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 7,667,241 shares of the real estate investment trust’s stock worth $109,412,000 after buying an additional 257,768 shares in the last quarter. State Street Corp increased its position in shares of Monmouth Real Estate Investment Corporation by 17.1% in the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock worth $21,566,000 after buying an additional 220,934 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Monmouth Real Estate Investment Corporation by 87.2% in the first quarter. Asset Management One Co. Ltd. now owns 425,420 shares of the real estate investment trust’s stock worth $6,009,000 after buying an additional 198,116 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Monmouth Real Estate Investment Corporation by 14.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,600 shares of the real estate investment trust’s stock worth $19,516,000 after buying an additional 171,100 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Monmouth Real Estate Investment Corporation by 14.5% in the first quarter. Principal Financial Group Inc. now owns 906,651 shares of the real estate investment trust’s stock worth $12,937,000 after buying an additional 115,109 shares in the last quarter. Institutional investors and hedge funds own 59.68% of the company’s stock.
Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 15.45 on Friday. The stock has a market capitalization of $1.12 billion, a P/E ratio of 48.89 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 52 week low of $12.89 and a 52 week high of $15.67. The company’s 50-day moving average price is $15.14 and its 200 day moving average price is $14.72.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.14%. The ex-dividend date is Friday, August 11th. Monmouth Real Estate Investment Corporation’s payout ratio is currently 200.01%.
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MNR has been the topic of a number of analyst reports. Zacks Investment Research downgraded Monmouth Real Estate Investment Corporation from a “strong-buy” rating to a “sell” rating in a report on Thursday, May 11th. DA Davidson upgraded Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, May 18th. National Securities reiterated a “buy” rating and issued a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, May 4th. FBR & Co reiterated an “outperform” rating and issued a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. Finally, BidaskClub upgraded Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $15.92.
About Monmouth Real Estate Investment Corporation
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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