Monmouth Real Estate Investment (MNR) Price Target Raised to $18.50

Monmouth Real Estate Investment (NYSE:MNR) had its target price raised by analysts at B. Riley from $16.50 to $18.50 in a research note issued on Friday. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. B. Riley’s target price would suggest a potential upside of 3.58% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Monmouth Real Estate Investment from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BMO Capital Markets started coverage on Monmouth Real Estate Investment in a research note on Monday, September 11th. They issued a “market perform” rating and a $16.50 price target for the company. Finally, National Securities reaffirmed a “buy” rating and issued a $18.00 price target (up from $16.50) on shares of Monmouth Real Estate Investment in a research note on Monday, August 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $17.25.

Shares of Monmouth Real Estate Investment (NYSE MNR) opened at $17.86 on Friday. The company has a debt-to-equity ratio of 1.51, a current ratio of 7.24 and a quick ratio of 7.24. Monmouth Real Estate Investment has a one year low of $13.30 and a one year high of $18.04. The firm has a market cap of $1,284.34, a price-to-earnings ratio of 23.92, a PEG ratio of 2.74 and a beta of 0.51.

Monmouth Real Estate Investment (NYSE:MNR) last issued its quarterly earnings data on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.12). Monmouth Real Estate Investment had a return on equity of 7.91% and a net margin of 32.02%. The firm had revenue of $30.40 million during the quarter, compared to analyst estimates of $30.91 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. Monmouth Real Estate Investment’s quarterly revenue was up 19.2% compared to the same quarter last year. research analysts anticipate that Monmouth Real Estate Investment will post 0.77 EPS for the current fiscal year.

In related news, Chairman Eugene W. Landy sold 32,500 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $16.27, for a total transaction of $528,775.00. Following the completion of the sale, the chairman now directly owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have purchased 445 shares of company stock valued at $7,004. 5.31% of the stock is owned by company insiders.

A number of institutional investors have recently made changes to their positions in MNR. Palisade Capital Management LLC NJ boosted its stake in shares of Monmouth Real Estate Investment by 0.3% during the third quarter. Palisade Capital Management LLC NJ now owns 44,800 shares of the real estate investment trust’s stock valued at $639,000 after purchasing an additional 150 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its holdings in Monmouth Real Estate Investment by 0.4% during the 1st 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 increased its stake in Monmouth Real Estate Investment by 0.8% in the 2nd quarter. Anchor Capital Advisors LLC now owns 22,800 shares of the real estate investment trust’s stock worth $343,000 after acquiring an additional 190 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Monmouth Real Estate Investment by 0.5% in 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 acquiring an additional 200 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Monmouth Real Estate Investment by 1.0% in the 3rd 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 during the last quarter. 66.65% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Monmouth Real Estate Investment (NYSE:MNR)

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