Monmouth Real Estate Investment Corporation (NYSE:MNR) – Investment analysts at B. Riley issued their Q1 2018 earnings per share (EPS) estimates for Monmouth Real Estate Investment in a report issued on Friday. B. Riley analyst C. Kucera forecasts that the real estate investment trust will post earnings per share of $0.23 for the quarter. B. Riley has a “Buy” rating and a $18.50 price target on the stock. B. Riley also issued estimates for Monmouth Real Estate Investment’s Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.23 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.91 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.24 EPS and FY2019 earnings at $0.97 EPS.
Several other equities analysts have also weighed in on MNR. BMO Capital Markets started coverage on Monmouth Real Estate Investment in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 target price on the stock. National Securities restated a “buy” rating and set a $18.00 target price (up from $16.50) on shares of Monmouth Real Estate Investment in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded Monmouth Real Estate Investment from a “hold” rating to a “buy” rating and set a $18.00 target price on the stock in a report on Wednesday, October 4th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $17.25.
Monmouth Real Estate Investment (NYSE:MNR) last announced its quarterly earnings data on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.12). Monmouth Real Estate Investment had a return on equity of 7.65% and a net margin of 30.84%. The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.91 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. Monmouth Real Estate Investment’s revenue was up 19.2% on a year-over-year basis.
Institutional investors have recently bought and sold shares of the company. Barings LLC bought a new position in shares of Monmouth Real Estate Investment in the third quarter worth about $168,000. QS Investors LLC increased its stake in shares of Monmouth Real Estate Investment by 6.8% in the second quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 720 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of Monmouth Real Estate Investment in the second quarter worth about $173,000. Pekin Singer Strauss Asset Management IL increased its stake in shares of Monmouth Real Estate Investment by 5.4% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 11,650 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 595 shares during the period. Finally, Intrust Bank NA bought a new position in shares of Monmouth Real Estate Investment in the second quarter worth about $181,000. Institutional investors and hedge funds own 66.65% of the company’s stock.
In other Monmouth Real Estate Investment news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was 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 in the company, valued at $14,329,070.35. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have acquired 445 shares of company stock worth $7,004. Corporate insiders own 5.31% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.17 per share. This is a positive change from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.78%. The ex-dividend date is Tuesday, November 14th. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is 212.51%.
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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.
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