Monmouth R.E. Inv. Corp. Declares Quarterly Dividend of $0.17 (MNR)

Monmouth R.E. Inv. Corp. (NYSE:MNR) announced a quarterly dividend on Friday, January 19th, Wall Street Journal reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.17 per share by the real estate investment trust on Thursday, March 15th. This represents a $0.68 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, February 14th.

Monmouth R.E. Inv. has increased its dividend payment by an average of 2.7% annually over the last three years and has raised its dividend every year for the last 3 years. Monmouth R.E. Inv. has a dividend payout ratio of 75.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Monmouth R.E. Inv. to earn $1.01 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 67.3%.

Shares of Monmouth R.E. Inv. (NYSE:MNR) traded up $0.37 during midday trading on Friday, reaching $17.46. The company’s stock had a trading volume of 690,464 shares, compared to its average volume of 383,197. The company has a debt-to-equity ratio of 1.52, a quick ratio of 4.50 and a current ratio of 4.50. Monmouth R.E. Inv. has a one year low of $13.68 and a one year high of $18.45. The stock has a market capitalization of $1,340.00, a PE ratio of 54.56, a P/E/G ratio of 2.75 and a beta of 0.51.

Monmouth R.E. Inv. (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 R.E. Inv. had a net margin of 30.84% and a return on equity of 7.65%. The firm had revenue of $30.40 million during the quarter, compared to analysts’ expectations of $30.91 million. During the same quarter in the prior year, the firm posted $0.22 EPS. Monmouth R.E. Inv.’s quarterly revenue was up 19.2% compared to the same quarter last year. equities analysts predict that Monmouth R.E. Inv. will post 0.9 EPS for the current year.

A number of brokerages have weighed in on MNR. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Wednesday, October 4th. B. Riley reiterated a “buy” rating on shares of Monmouth R.E. Inv. in a research note on Wednesday, November 1st. National Securities upped their price target on Monmouth R.E. Inv. from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $18.00 price target on shares of Monmouth R.E. Inv. in a research note on Tuesday, January 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Monmouth R.E. Inv. has a consensus rating of “Buy” and a consensus price target of $17.83.

In other Monmouth R.E. Inv. news, insider Michael P. Landy acquired 1,400 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The shares were purchased at an average price of $18.05 per share, with a total value of $25,270.00. Following the completion of the acquisition, the insider now directly owns 370,977 shares of the company’s stock, valued at approximately $6,696,134.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Umh Properties, Inc. acquired 9,053 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The shares were acquired at an average cost of $17.01 per share, for a total transaction of $153,991.53. The disclosure for this purchase can be found here. Insiders have bought 10,573 shares of company stock valued at $181,266 in the last 90 days. Company insiders own 5.31% of the company’s stock.

WARNING: “Monmouth R.E. Inv. Corp. Declares Quarterly Dividend of $0.17 (MNR)” was first reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.americanbankingnews.com/2018/01/19/monmouth-r-e-inv-corp-declares-quarterly-dividend-of-0-17-mnr.html.

Monmouth R.E. Inv. Company Profile

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 R.E. Inv. (NYSE:MNR)

Receive News & Ratings for Monmouth R.E. Inv. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monmouth R.E. Inv. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply