B. Riley upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a neutral rating to a buy rating in a research report report published on Tuesday, MarketBeat reports. B. Riley currently has $17.00 price target on the real estate investment trust’s stock, down from their prior price target of $17.50. B. Riley also issued estimates for Monmouth R.E. Inv.’s Q1 2019 earnings at $0.24 EPS, Q2 2019 earnings at $0.24 EPS, Q4 2019 earnings at $0.25 EPS and FY2019 earnings at $0.98 EPS.
Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Monmouth R.E. Inv. from a buy rating to a hold rating in a research note on Tuesday. ValuEngine cut Monmouth R.E. Inv. from a hold rating to a sell rating in a research note on Thursday, October 4th. Finally, Boenning Scattergood reissued 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $18.60.
NYSE MNR opened at $14.88 on Tuesday. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $1.35 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53. Monmouth R.E. Inv. has a 1 year low of $13.87 and a 1 year high of $18.45.
Monmouth R.E. Inv. (NYSE:MNR) last posted its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.10). The business had revenue of $36.20 million during the quarter, compared to the consensus estimate of $35.28 million. Monmouth R.E. Inv. had a return on equity of 9.44% and a net margin of 35.32%. As a group, analysts anticipate that Monmouth R.E. Inv. will post 0.9 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be issued a $0.17 dividend. 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 Monmouth R.E. Inv. news, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $16.84, for a total value of $134,720.00. Following the completion of the sale, the chairman now directly owns 852,776 shares in the company, valued at $14,360,747.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Umh Properties, Inc. acquired 9,396 shares of the stock in a transaction on Monday, September 17th. The stock was bought at an average price of $16.39 per share, with a total value of $154,000.44. The disclosure for this purchase can be found here. Insiders acquired 12,823 shares of company stock valued at $209,428 over the last 90 days. 4.63% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of MNR. Schwab Charles Investment Management Inc. lifted its holdings in Monmouth R.E. Inv. by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 372,649 shares of the real estate investment trust’s stock worth $5,605,000 after buying an additional 29,526 shares during the period. Northern Trust Corp lifted its holdings in Monmouth R.E. Inv. by 7.7% in the first quarter. Northern Trust Corp now owns 1,522,113 shares of the real estate investment trust’s stock worth $22,893,000 after buying an additional 109,140 shares during the period. BlackRock Inc. lifted its holdings in Monmouth R.E. Inv. by 1.7% in the first quarter. BlackRock Inc. now owns 6,815,350 shares of the real estate investment trust’s stock worth $102,503,000 after buying an additional 112,696 shares during the period. New York State Common Retirement Fund lifted its holdings in Monmouth R.E. Inv. by 5.8% in the first quarter. New York State Common Retirement Fund now owns 76,100 shares of the real estate investment trust’s stock worth $1,145,000 after buying an additional 4,200 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Monmouth R.E. Inv. by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,000,655 shares of the real estate investment trust’s stock valued at $15,050,000 after purchasing an additional 22,621 shares during the last quarter. Institutional investors and hedge funds own 66.43% 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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