Monmouth Real Estate Investment Corporation (NYSE:MNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $18.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 9.29% from the company’s previous close.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

Other analysts also recently issued reports about the company. BMO Capital Markets began coverage on Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective for the company. National Securities reaffirmed a “buy” rating and issued a $18.00 target price (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. BidaskClub raised Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, FBR & Co reiterated 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. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.00.

Shares of Monmouth Real Estate Investment Corporation (NYSE MNR) opened at 16.47 on Wednesday. The firm’s 50-day moving average is $15.95 and its 200-day moving average is $15.14. The stock has a market capitalization of $1.22 billion, a price-to-earnings 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 posted its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. The company had revenue of $28.61 million for the quarter, compared to the consensus estimate of $28.81 million. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. Monmouth Real Estate Investment Corporation’s revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.19 earnings per share. On average, equities research analysts anticipate that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current fiscal year.

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In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.27, for a total transaction of $528,775.00. Following the transaction, the chairman now directly owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders purchased 1,827 shares of company stock worth $35,170 in the last 90 days. 5.31% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in MNR. Palisade Capital Management LLC NJ lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 0.3% during the 3rd quarter. Palisade Capital Management LLC NJ now owns 44,800 shares of the real estate investment trust’s stock valued at $639,000 after acquiring an additional 150 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of Monmouth Real Estate Investment Corporation by 0.4% during the first quarter. Metropolitan Life Insurance Co. NY now owns 45,355 shares of the real estate investment trust’s stock worth $539,000 after purchasing an additional 173 shares in the last quarter. Anchor Capital Advisors LLC lifted its stake in shares of Monmouth Real Estate Investment Corporation by 0.8% during the second quarter. Anchor Capital Advisors LLC now owns 22,800 shares of the real estate investment trust’s stock worth $343,000 after purchasing an additional 190 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Monmouth Real Estate Investment Corporation by 0.5% during the second quarter. State Board of Administration of Florida Retirement System now owns 41,197 shares of the real estate investment trust’s stock worth $546,000 after purchasing an additional 200 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Monmouth Real Estate Investment Corporation by 1.0% during the third quarter. Oppenheimer & Co. Inc. now owns 23,754 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 237 shares in the last quarter. 60.55% of the stock is owned by institutional investors.

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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