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.
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.
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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.
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