Monmouth R.E. Inv. (MNR) Upgraded by ValuEngine to “Hold”

Monmouth R.E. Inv. (NYSE:MNR) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Several other equities analysts have also recently issued reports on the company. Boenning Scattergood reiterated a “buy” rating and set a $19.00 target price on shares of Monmouth R.E. Inv. in a research report on Friday, September 7th. Zacks Investment Research cut Monmouth R.E. Inv. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, B. Riley upgraded Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $17.50 to $17.00 in a research report on Tuesday, October 9th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $18.60.

NYSE MNR traded up $0.01 on Wednesday, hitting $15.40. 593,500 shares of the company’s stock were exchanged, compared to its average volume of 412,193. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 1.59. Monmouth R.E. Inv. has a fifty-two week low of $13.87 and a fifty-two week high of $18.45. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.65 and a beta of 0.53.

Monmouth R.E. Inv. (NYSE:MNR) last released 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). Monmouth R.E. Inv. had a return on equity of 9.44% and a net margin of 35.32%. The business had revenue of $36.20 million for the quarter, compared to analyst estimates of $35.28 million. Equities analysts forecast that Monmouth R.E. Inv. will post 0.9 earnings per share for the current fiscal year.

In related news, Chairman Eugene W. Landy sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $16.84, for a total value of $134,720.00. Following the sale, the chairman now owns 852,776 shares in the company, valued at approximately $14,360,747.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Umh Properties, Inc. purchased 9,396 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was purchased 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. In the last 90 days, insiders purchased 12,914 shares of company stock worth $209,421. Insiders own 4.63% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC acquired a new stake in shares of Monmouth R.E. Inv. in the 1st quarter worth approximately $173,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Monmouth R.E. Inv. in the 1st quarter worth approximately $174,000. Amalgamated Bank acquired a new stake in shares of Monmouth R.E. Inv. in the 2nd quarter worth approximately $175,000. Campbell & CO Investment Adviser LLC purchased a new stake in Monmouth R.E. Inv. in the 2nd quarter valued at approximately $180,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Monmouth R.E. Inv. in the 2nd quarter valued at approximately $183,000. Institutional investors and hedge funds own 66.43% of the company’s stock.

Monmouth R.E. Inv. Company Profile

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.

Read More: Price to Earnings Ratio (PE)

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