Monmouth Real Estate Investment Corporation (NYSE:MNR) announced a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, December 15th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.13%. The ex-dividend date is Tuesday, November 14th. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16.

Monmouth Real Estate Investment Corporation has raised its dividend by an average of 2.2% annually over the last three years and has raised its dividend every year for the last 2 years. Monmouth Real Estate Investment Corporation has a payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Monmouth Real Estate Investment Corporation to earn $0.45 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 142.2%.

Monmouth Real Estate Investment Corporation (MNR) traded up 0.49% during trading on Tuesday, hitting $16.47. 373,324 shares of the company traded hands. The company’s 50 day moving average is $15.91 and its 200-day moving average is $15.12. The stock has a market capitalization of $1.22 billion, a PE ratio of 55.45 and a beta of 0.50. Monmouth Real Estate Investment Corporation has a 52 week low of $12.89 and a 52 week high of $16.56.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The company had revenue of $28.61 million during the quarter, compared to analyst estimates of $28.81 million. During the same period in the prior year, the company earned $0.19 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. Analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current year.

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In related news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation 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 completion of the transaction, the chairman now owns 880,705 shares in the company, valued at $14,329,070.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last ninety days, insiders purchased 2,327 shares of company stock valued at $42,705. 5.31% of the stock is owned by insiders.

Several brokerages have recently issued reports on MNR. Zacks Investment Research raised Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, August 16th. FBR & Co reissued an “outperform” rating and issued a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. BidaskClub lowered shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. National Securities restated a “buy” rating and issued a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Finally, BMO Capital Markets began coverage on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They issued a “market perform” rating and a $16.50 price target on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $16.80.

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.

Dividend History for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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