Principal Financial Group Inc. Boosts Position in Monmouth Real Estate Investment Corporation (NYSE:MNR)

Principal Financial Group Inc. increased its position in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,061,677 shares of the real estate investment trust’s stock after buying an additional 95,588 shares during the quarter. Principal Financial Group Inc. owned 1.43% of Monmouth Real Estate Investment worth $17,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC grew its position in shares of Monmouth Real Estate Investment by 10.5% in the 2nd quarter. Teachers Advisors LLC now owns 144,373 shares of the real estate investment trust’s stock worth $2,173,000 after buying an additional 13,679 shares during the period. IndexIQ Advisors LLC boosted its stake in Monmouth Real Estate Investment by 14.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 81,205 shares of the real estate investment trust’s stock worth $1,222,000 after purchasing an additional 10,211 shares in the last quarter. BlackRock Inc. boosted its stake in Monmouth Real Estate Investment by 0.3% in the 2nd quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock worth $90,823,000 after purchasing an additional 16,118 shares in the last quarter. Boulegeris Investments Inc. boosted its stake in Monmouth Real Estate Investment by 1.6% in the 2nd quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock worth $36,063,000 after purchasing an additional 38,494 shares in the last quarter. Finally, State Street Corp boosted its stake in Monmouth Real Estate Investment by 7.1% in the 2nd quarter. State Street Corp now owns 1,618,598 shares of the real estate investment trust’s stock worth $24,360,000 after purchasing an additional 107,580 shares in the last quarter. 66.64% of the stock is currently owned by institutional investors.

In other Monmouth Real Estate Investment news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $16.27, for a total value of $528,775.00. Following the transaction, the chairman now owns 880,705 shares in the company, valued at $14,329,070.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have bought 445 shares of company stock worth $7,004. Insiders own 5.31% of the company’s stock.

Shares of Monmouth Real Estate Investment Corporation (NYSE MNR) traded down $0.56 on Wednesday, reaching $17.63. The company had a trading volume of 398,400 shares, compared to its average volume of 320,868. Monmouth Real Estate Investment Corporation has a 12 month low of $13.68 and a 12 month high of $18.45. The company has a market capitalization of $1,392.79, a P/E ratio of 23.62, a PEG ratio of 2.90 and a beta of 0.52. The company has a debt-to-equity ratio of 1.52, a quick ratio of 4.50 and a current ratio of 4.50.

Monmouth Real Estate Investment (NYSE:MNR) last announced its quarterly earnings results on Wednesday, November 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.12). The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.91 million. Monmouth Real Estate Investment had a net margin of 30.84% and a return on equity of 7.65%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.22 EPS. sell-side analysts anticipate that Monmouth Real Estate Investment Corporation will post 0.9 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.68 annualized dividend and a dividend yield of 3.86%. This is a positive change from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is currently 212.51%.

A number of equities analysts recently issued reports on MNR shares. BMO Capital Markets started coverage on shares of Monmouth Real Estate Investment in a research note on Monday, September 11th. They issued a “market perform” rating and a $16.50 price target on the stock. National Securities restated a “buy” rating and set a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment in a research note on Monday, August 21st. Zacks Investment Research upgraded shares of Monmouth Real Estate Investment from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Wednesday, October 4th. Finally, B. Riley increased their target price on shares of Monmouth Real Estate Investment from $16.50 to $18.50 and gave the stock a “buy” rating in a report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $17.25.

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About Monmouth Real Estate Investment

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.

Institutional Ownership by Quarter for Monmouth Real Estate Investment (NYSE:MNR)

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