Zacks Investment Research lowered shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) from a buy rating to a hold rating in a research note published on Friday morning.
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 topic of several other research reports. BidaskClub lowered shares of Monmouth Real Estate Investment Corporation from a buy rating to a hold rating in a report on Thursday, July 27th. DA Davidson raised shares of Monmouth Real Estate Investment Corporation from a neutral rating to a buy rating and set a $16.00 target price on the stock in a report on Thursday, May 18th. National Securities reaffirmed a buy rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, May 4th. Finally, FBR & Co reaffirmed an outperform rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $16.50.
Shares of Monmouth Real Estate Investment Corporation (MNR) opened at 15.34 on Friday. The firm has a market capitalization of $1.14 billion, a P/E ratio of 51.65 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $15.67. The firm’s 50-day moving average is $15.28 and its 200 day moving average is $14.78.
Monmouth Real Estate Investment Corporation (NYSE:MNR) last released its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The company had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. On average, equities research analysts anticipate that Monmouth Real Estate Investment Corporation will post $0.32 EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Friday, August 11th. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is presently 213.33%.
A number of large investors have recently made changes to their positions in the company. Anchor Capital Advisors LLC raised its stake in shares of Monmouth Real Estate Investment Corporation by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 22,800 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 190 shares during the period. Honkamp Krueger Financial Services Inc. raised its stake in shares of Monmouth Real Estate Investment Corporation by 0.6% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 49,035 shares of the real estate investment trust’s stock worth $738,000 after buying an additional 305 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Monmouth Real Estate Investment Corporation by 0.5% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 362 shares during the period. Saratoga Research & Investment Management raised its stake in shares of Monmouth Real Estate Investment Corporation by 1.6% in the second quarter. Saratoga Research & Investment Management now owns 29,120 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 465 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Monmouth Real Estate Investment Corporation by 0.3% in the first quarter. California Public Employees Retirement System now owns 148,100 shares of the real estate investment trust’s stock worth $2,113,000 after buying an additional 500 shares during the period. 58.35% of the stock is currently owned by institutional investors and hedge funds.
Monmouth Real Estate Investment Corporation 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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