Monmouth R.E. Inv. Corp. (NYSE:MNR) – Equities research analysts at DA Davidson boosted their Q1 2019 earnings estimates for shares of Monmouth R.E. Inv. in a research note issued on Thursday, November 29th. DA Davidson analyst B. Oxford now forecasts that the real estate investment trust will post earnings per share of $0.23 for the quarter, up from their prior forecast of $0.22. DA Davidson also issued estimates for Monmouth R.E. Inv.’s Q3 2019 earnings at $0.26 EPS and FY2019 earnings at $1.00 EPS.
A number of other research firms have also commented on MNR. Boenning Scattergood reaffirmed a “buy” rating and set a $19.00 price objective on shares of Monmouth R.E. Inv. in a research note on Friday, September 7th. ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Zacks Investment Research lowered Monmouth R.E. Inv. from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, B. Riley raised Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $17.50 to $17.00 in a research note on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Monmouth R.E. Inv. presently has a consensus rating of “Hold” and an average target price of $18.60.
MNR opened at $13.93 on Monday. The company has a current ratio of 3.43, a quick ratio of 5.61 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.28 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.99 and a beta of 0.67. Monmouth R.E. Inv. has a 52 week low of $13.64 and a 52 week high of $18.45.
Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings data on Wednesday, November 28th. The real estate investment trust reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.15). The company had revenue of $36.60 million for the quarter, compared to analyst estimates of $38.18 million. Monmouth R.E. Inv. had a net margin of 34.09% and a return on equity of 9.61%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.88%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 78.16%.
In other Monmouth R.E. Inv. news, insider Michael P. Landy bought 2,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Friday, November 30th. The shares were purchased at an average cost of $13.70 per share, for a total transaction of $27,400.00. Following the completion of the transaction, the insider now owns 407,747 shares of the company’s stock, valued at approximately $5,586,133.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Umh Properties, Inc. bought 9,396 shares of Monmouth R.E. Inv. stock in a transaction that occurred 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 disclosure for this purchase can be found here. Insiders have purchased 13,841 shares of company stock worth $216,122 over the last quarter. 4.63% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC purchased a new position in shares of Monmouth R.E. Inv. in the 3rd quarter worth about $114,000. Amalgamated Bank purchased a new position in shares of Monmouth R.E. Inv. in the 2nd quarter worth about $175,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Monmouth R.E. Inv. in the 2nd quarter worth about $183,000. Ausdal Financial Partners Inc. purchased a new position in shares of Monmouth R.E. Inv. in the 2nd quarter worth about $187,000. Finally, Private Advisor Group LLC purchased a new position in shares of Monmouth R.E. Inv. in the 3rd quarter worth about $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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