Wall Street brokerages forecast that Monmouth R.E. Inv. Corp. (NYSE:MNR) will announce sales of $33.71 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Monmouth R.E. Inv.’s earnings. The highest sales estimate is $34.11 million and the lowest is $32.93 million. Monmouth R.E. Inv. reported sales of $27.31 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 23.4%. The business is expected to issue its next quarterly earnings report on Wednesday, May 2nd.
On average, analysts expect that Monmouth R.E. Inv. will report full year sales of $33.71 million for the current fiscal year, with estimates ranging from $134.51 million to $141.77 million. For the next year, analysts expect that the company will report sales of $156.63 million per share, with estimates ranging from $145.90 million to $168.82 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Monmouth R.E. Inv..
Several research analysts have recently commented on the company. BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price objective on shares of Monmouth R.E. Inv. in a report on Tuesday, January 9th. B. Riley downgraded Monmouth R.E. Inv. from a “buy” rating to a “neutral” rating and reduced their price target for the company from $18.50 to $16.50 in a report on Friday, February 9th. National Securities boosted their price target on Monmouth R.E. Inv. from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Finally, Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.50.
Several hedge funds have recently bought and sold shares of MNR. Meeder Asset Management Inc. grew its holdings in shares of Monmouth R.E. Inv. by 6,031.6% during the 4th quarter. Meeder Asset Management Inc. now owns 5,825 shares of the real estate investment trust’s stock worth $104,000 after acquiring an additional 5,730 shares during the period. Barings LLC purchased a new position in shares of Monmouth R.E. Inv. during the 3rd quarter worth approximately $168,000. Schroder Investment Management Group purchased a new position in shares of Monmouth R.E. Inv. during the 3rd quarter worth approximately $182,000. Winslow Evans & Crocker Inc. grew its holdings in shares of Monmouth R.E. Inv. by 90.2% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 10,650 shares of the real estate investment trust’s stock worth $190,000 after acquiring an additional 5,050 shares during the period. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth approximately $190,000. Hedge funds and other institutional investors own 65.39% of the company’s stock.
Monmouth R.E. Inv. (NYSE MNR) traded up $0.38 on Friday, hitting $14.80. The stock had a trading volume of 471,454 shares, compared to its average volume of 461,037. The stock has a market capitalization of $1,120.00, a P/E ratio of 44.85, a P/E/G ratio of 2.27 and a beta of 0.59. The company has a debt-to-equity ratio of 1.50, a quick ratio of 6.85 and a current ratio of 6.85. Monmouth R.E. Inv. has a 1 year low of $13.68 and a 1 year high of $18.45.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.59%. Monmouth R.E. Inv.’s dividend payout ratio is presently 206.06%.
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About Monmouth R.E. Inv.
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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