According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
MNR has been the subject of several other reports. BMO Capital Markets set a $15.00 target price on Monmouth R.E. Inv. and gave the company a hold rating in a report on Friday, August 2nd. ValuEngine raised Monmouth R.E. Inv. from a sell rating to a hold rating in a report on Friday, May 10th. Finally, Boenning Scattergood reaffirmed a buy rating and issued a $17.50 target price on shares of Monmouth R.E. Inv. in a report on Friday, May 10th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $15.50.
Monmouth R.E. Inv. (NYSE:MNR) last released its earnings results on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.25). The business had revenue of $39.47 million during the quarter, compared to the consensus estimate of $39.91 million. Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. On average, research analysts expect that Monmouth R.E. Inv. will post 0.87 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Wednesday, August 14th. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is 78.16%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Buffington Mohr McNeal bought a new position in Monmouth R.E. Inv. during the first quarter valued at $36,000. Point72 Hong Kong Ltd bought a new position in Monmouth R.E. Inv. during the second quarter valued at $51,000. Kavar Capital Partners LLC bought a new position in Monmouth R.E. Inv. during the second quarter valued at $56,000. WealthStone Inc. bought a new position in Monmouth R.E. Inv. during the second quarter valued at $58,000. Finally, Advisor Group Inc. grew its holdings in Monmouth R.E. Inv. by 45.7% during the second quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 1,533 shares during the period. 66.37% of the stock is owned by institutional investors and hedge funds.
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. We specialize 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 113 properties containing a total of approximately 21.8 million rentable square feet, geographically diversified across 30 states.
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