Wall Street brokerages expect Monmouth R.E. Inv. Corp. (NYSE:MNR) to report sales of $39.91 million for the current quarter, according to Zacks. Four analysts have made estimates for Monmouth R.E. Inv.’s earnings, with estimates ranging from $39.06 million to $40.67 million. Monmouth R.E. Inv. posted sales of $32.95 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.1%. The firm is scheduled to issue its next quarterly earnings report on Wednesday, February 6th.
According to Zacks, analysts expect that Monmouth R.E. Inv. will report full year sales of $168.87 million for the current year, with estimates ranging from $162.42 million to $176.26 million. For the next year, analysts forecast that the firm will report sales of $209.91 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Monmouth R.E. Inv..
Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings results on Wednesday, November 28th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The company had revenue of $36.60 million during the quarter, compared to the consensus estimate of $38.18 million. Monmouth R.E. Inv. had a return on equity of 9.44% and a net margin of 35.32%.
A number of analysts have weighed in on the company. Boenning Scattergood reiterated a “buy” rating and issued a $19.00 target price on shares of Monmouth R.E. Inv. in a research note on Friday, September 7th. Zacks Investment Research lowered Monmouth R.E. Inv. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. ValuEngine lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Thursday, October 4th. Finally, B. Riley upgraded Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $17.50 to $17.00 in a research note on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Monmouth R.E. Inv. has a consensus rating of “Hold” and an average target price of $18.60.
Shares of MNR opened at $13.88 on Friday. The firm has a market capitalization of $1.19 billion, a P/E ratio of 18.26, a P/E/G ratio of 2.09 and a beta of 0.67. Monmouth R.E. Inv. has a 52-week low of $13.83 and a 52-week high of $18.45. The company has a quick ratio of 5.61, a current ratio of 5.61 and a debt-to-equity ratio of 1.59.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.90%. Monmouth R.E. Inv.’s payout ratio is 89.47%.
In other Monmouth R.E. Inv. news, insider Umh Properties, Inc. bought 9,396 shares of Monmouth R.E. Inv. stock in a transaction on Monday, September 17th. The shares were acquired at an average price of $16.39 per share, for a total transaction of $154,000.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders acquired 10,841 shares of company stock worth $175,002. Insiders own 4.63% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC purchased a new position in shares of Monmouth R.E. Inv. during the third quarter valued at $114,000. Amalgamated Bank purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at $175,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at $183,000. Ausdal Financial Partners Inc. purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at $187,000. Finally, Private Advisor Group LLC purchased a new position in shares of Monmouth R.E. Inv. during the third quarter valued at $198,000. Hedge funds and other institutional investors own 64.04% of the company’s stock.
About Monmouth R.E. Inv.
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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