Zacks Investment Research upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $17.00 price target on the real estate investment trust’s stock.
According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
A number of other brokerages have also commented on MNR. BMO Capital Markets restated a hold rating and issued a $18.00 price target on shares of Monmouth R.E. Inv. in a report on Tuesday, January 9th. B. Riley lowered Monmouth R.E. Inv. from a buy rating to a neutral rating and cut their price target for the company from $18.50 to $16.50 in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $17.33.
Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). The firm had revenue of $32.95 million during the quarter, compared to the consensus estimate of $32.48 million. Monmouth R.E. Inv. had a net margin of 36.04% and a return on equity of 9.08%. analysts predict that Monmouth R.E. Inv. will post 0.9 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.68 annualized dividend and a yield of 4.53%. Monmouth R.E. Inv.’s payout ratio is presently 89.47%.
In related news, Director Catherine B. Elflein bought 3,460 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $14.38 per share, for a total transaction of $49,754.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 3,672 shares of company stock worth $52,752 in the last quarter. 4.63% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. raised its holdings in Monmouth R.E. Inv. by 8.1% during the third quarter. American International Group Inc. now owns 46,531 shares of the real estate investment trust’s stock worth $753,000 after acquiring an additional 3,479 shares in the last quarter. Loeb Partners Corp raised its holdings in Monmouth R.E. Inv. by 1.5% during the fourth quarter. Loeb Partners Corp now owns 230,284 shares of the real estate investment trust’s stock worth $4,100,000 after acquiring an additional 3,500 shares in the last quarter. Intrust Bank NA raised its holdings in Monmouth R.E. Inv. by 26.1% during the fourth quarter. Intrust Bank NA now owns 18,147 shares of the real estate investment trust’s stock worth $323,000 after acquiring an additional 3,752 shares in the last quarter. Aperio Group LLC raised its holdings in Monmouth R.E. Inv. by 20.9% during the fourth quarter. Aperio Group LLC now owns 23,674 shares of the real estate investment trust’s stock worth $421,000 after acquiring an additional 4,091 shares in the last quarter. Finally, Swiss National Bank raised its holdings in Monmouth R.E. Inv. by 4.4% during the fourth quarter. Swiss National Bank now owns 114,000 shares of the real estate investment trust’s stock worth $2,029,000 after acquiring an additional 4,800 shares in the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.
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Monmouth R.E. Inv. 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.
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