Shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) have been assigned an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $16.75.
Several analysts recently commented on MNR shares. Boenning Scattergood set a $19.00 price objective on Monmouth R.E. Inv. and gave the stock a “buy” rating in a report on Thursday, November 29th. ValuEngine lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a report on Friday, November 30th. JPMorgan Chase & Co. started coverage on Monmouth R.E. Inv. in a report on Friday, March 8th. They issued a “neutral” rating and a $14.00 price objective for the company. Finally, Zacks Investment Research lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a report on Tuesday, February 12th.
In other Monmouth R.E. Inv. news, Chairman Eugene W. Landy sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $266,800.00. Following the completion of the sale, the chairman now owns 918,733 shares of the company’s stock, valued at $12,255,898.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Umh Properties, Inc. purchased 11,958 shares of the business’s stock in a transaction on Monday, December 17th. The shares were bought at an average cost of $13.72 per share, with a total value of $164,063.76. The disclosure for this purchase can be found here. Insiders have acquired 13,406 shares of company stock valued at $183,147 in the last three months. 4.63% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its position in shares of Monmouth R.E. Inv. by 2.8% in the third quarter. Vanguard Group Inc now owns 7,951,515 shares of the real estate investment trust’s stock valued at $132,950,000 after acquiring an additional 214,442 shares in the last quarter. Addison Capital Co purchased a new position in shares of Monmouth R.E. Inv. in the fourth quarter valued at about $310,000. Pensionfund DSM Netherlands lifted its position in shares of Monmouth R.E. Inv. by 27.5% in the fourth quarter. Pensionfund DSM Netherlands now owns 116,000 shares of the real estate investment trust’s stock valued at $1,438,000 after acquiring an additional 25,000 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Monmouth R.E. Inv. by 0.4% in the third quarter. Dimensional Fund Advisors LP now owns 1,049,480 shares of the real estate investment trust’s stock valued at $17,547,000 after acquiring an additional 3,793 shares in the last quarter. Finally, Teachers Advisors LLC lifted its position in shares of Monmouth R.E. Inv. by 0.5% in the third quarter. Teachers Advisors LLC now owns 747,684 shares of the real estate investment trust’s stock valued at $12,501,000 after acquiring an additional 3,693 shares in the last quarter. Institutional investors and hedge funds own 68.38% of the company’s stock.
Shares of MNR opened at $13.17 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.46 and a quick ratio of 7.46. Monmouth R.E. Inv. has a one year low of $11.88 and a one year high of $17.51. The firm has a market capitalization of $1.22 billion, a P/E ratio of 15.14, a PEG ratio of 2.03 and a beta of 0.80.
Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.59). Monmouth R.E. Inv. had a return on equity of 0.27% and a net margin of 1.33%. The firm had revenue of $39.15 million during the quarter, compared to the consensus estimate of $40.22 million. Equities research analysts predict that Monmouth R.E. Inv. will post 0.94 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.16%. The ex-dividend date was Thursday, February 14th. Monmouth R.E. Inv.’s dividend payout ratio is presently 78.16%.
Monmouth R.E. Inv. Company Profile
Monmouth Real Estate Investment Corp. engages in the ownership and management of real estate. It invests in single tenant, industrial buildings leased primarily to investment-grade tenants on long-term net leases. The company was founded by Eugene W. Landy in 1968 and is headquartered in Freehold, NJ.
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