Wall Street analysts predict that Monmouth R.E. Inv. Corp. (NYSE:MNR) will post sales of $38.18 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Monmouth R.E. Inv.’s earnings, with the highest sales estimate coming in at $40.63 million and the lowest estimate coming in at $36.50 million. Monmouth R.E. Inv. posted sales of $26.37 million in the same quarter last year, which indicates a positive year over year growth rate of 44.8%. The firm is expected to report its next quarterly earnings report on Wednesday, December 5th.
According to Zacks, analysts expect that Monmouth R.E. Inv. will report full-year sales of $140.74 million for the current financial year, with estimates ranging from $139.28 million to $143.40 million. For the next financial year, analysts expect that the company will report sales of $168.87 million, with estimates ranging from $162.42 million to $176.26 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Monmouth R.E. Inv..
Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.10). Monmouth R.E. Inv. had a net margin of 35.32% and a return on equity of 9.44%. The company had revenue of $36.20 million for the quarter, compared to analyst estimates of $35.28 million.
Several equities analysts have commented on the company. Boenning Scattergood reiterated a “buy” rating and set a $19.00 price target on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. B. Riley upgraded Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and lowered their price target for the company from $17.50 to $17.00 in a report on Tuesday. Zacks Investment Research downgraded Monmouth R.E. Inv. from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, ValuEngine downgraded Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $18.60.
Shares of MNR stock opened at $14.88 on Friday. Monmouth R.E. Inv. has a 12 month low of $13.87 and a 12 month high of $18.45. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.61 and a current ratio of 5.61. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 2.65 and a beta of 0.53.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.57%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 89.47%.
In other news, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $16.84, for a total value of $134,720.00. Following the sale, the chairman now owns 852,776 shares in the company, valued at $14,360,747.84. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Umh Properties, Inc. acquired 9,396 shares of the stock in a transaction dated Monday, September 17th. The stock was bought at an average price of $16.39 per share, for a total transaction of $154,000.44. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 12,823 shares of company stock worth $209,428. 4.63% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Monmouth R.E. Inv. by 25.6% in the second quarter. Wells Fargo & Company MN now owns 923,547 shares of the real estate investment trust’s stock worth $15,265,000 after acquiring an additional 188,451 shares during the last quarter. BlackRock Inc. lifted its position in Monmouth R.E. Inv. by 6.1% in the second quarter. BlackRock Inc. now owns 7,230,951 shares of the real estate investment trust’s stock worth $119,529,000 after purchasing an additional 415,601 shares during the period. Oppenheimer & Co. Inc. lifted its position in Monmouth R.E. Inv. by 26.4% in the second quarter. Oppenheimer & Co. Inc. now owns 45,423 shares of the real estate investment trust’s stock worth $751,000 after purchasing an additional 9,494 shares during the period. Citadel Advisors LLC lifted its position in Monmouth R.E. Inv. by 67.8% in the second quarter. Citadel Advisors LLC now owns 278,919 shares of the real estate investment trust’s stock worth $4,611,000 after purchasing an additional 112,683 shares during the period. Finally, Anchor Capital Advisors LLC lifted its position in Monmouth R.E. Inv. by 52.0% in the second quarter. Anchor Capital Advisors LLC now owns 29,740 shares of the real estate investment trust’s stock worth $492,000 after purchasing an additional 10,180 shares during the period. Institutional investors and hedge funds own 66.43% of the company’s stock.
Monmouth R.E. Inv. Company Profile
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully-integrated and self-managed real estate company, whose property portfolio consists of 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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