Monmouth R.E. Inv. Corp. (MNR) to Issue $0.16 Quarterly Dividend

Monmouth R.E. Inv. Corp. (NYSE:MNR) declared a quarterly dividend on Wednesday, April 5th. Stockholders of record on Monday, May 15th will be paid a dividend of 0.16 per share by the real estate investment trust on Thursday, June 15th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date is Thursday, May 11th.

Monmouth R.E. Inv. Corp. has raised its dividend by an average of 2.2% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Monmouth R.E. Inv. Corp. has a payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Monmouth R.E. Inv. Corp. to earn $0.40 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 160.0%.

Shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) traded up 1.80% on Friday, hitting $14.72. The stock had a trading volume of 544,226 shares. The company has a 50 day moving average price of $14.59 and a 200-day moving average price of $14.38. Monmouth R.E. Inv. Corp. has a 12 month low of $11.56 and a 12 month high of $15.45. The stock has a market cap of $1.07 billion, a PE ratio of 46.58 and a beta of 0.54.

Dividend History for Monmouth R.E. Inv. Corp. (NYSE:MNR)

In related news, Director Steven B. Wolgin purchased 3,768 shares of Monmouth R.E. Inv. Corp. stock in a transaction dated Wednesday, March 15th. The shares were acquired at an average cost of $13.27 per share, with a total value of $50,001.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven B. Wolgin purchased 4,500 shares of Monmouth R.E. Inv. Corp. stock in a transaction dated Thursday, March 9th. The stock was bought at an average cost of $24.28 per share, for a total transaction of $109,260.00. Following the completion of the purchase, the director now directly owns 13,000 shares in the company, valued at approximately $315,640. The disclosure for this purchase can be found here. Insiders bought a total of 15,773 shares of company stock worth $264,416 over the last three months. Insiders own 5.61% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its position in shares of Monmouth R.E. Inv. Corp. by 17.1% in the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock worth $21,566,000 after buying an additional 220,934 shares during the period. Dimensional Fund Advisors LP boosted its position in Monmouth R.E. Inv. Corp. by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 848,968 shares of the real estate investment trust’s stock valued at $12,114,000 after buying an additional 66,507 shares during the period. Schwab Charles Investment Management Inc. boosted its position in Monmouth R.E. Inv. Corp. by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 281,212 shares of the real estate investment trust’s stock valued at $4,013,000 after buying an additional 14,835 shares during the period. Finally, Bank of America Corp DE boosted its position in Monmouth R.E. Inv. Corp. by 24.4% in the first quarter. Bank of America Corp DE now owns 30,788 shares of the real estate investment trust’s stock valued at $440,000 after buying an additional 6,032 shares during the period. Hedge funds and other institutional investors own 56.86% of the company’s stock.

MNR has been the topic of several research reports. National Securities reissued a “buy” rating and issued a $16.50 price target on shares of Monmouth R.E. Inv. Corp. in a research note on Thursday, May 4th. Zacks Investment Research raised shares of Monmouth R.E. Inv. Corp. from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Wednesday, April 12th. Finally, DA Davidson raised shares of Monmouth R.E. Inv. Corp. from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $15.67.

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Monmouth R.E. Inv. Corp. Company Profile

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

12 Month Chart for NYSE:MNR

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