Price T Rowe Associates Inc. MD lifted its stake in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 37.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 132,444 shares of the real estate investment trust’s stock after acquiring an additional 36,081 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.14% of Monmouth R.E. Inv. worth $1,795,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. FMR LLC boosted its stake in Monmouth R.E. Inv. by 132,971,100.0% in the first quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock valued at $17,526,000 after acquiring an additional 1,329,711 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Monmouth R.E. Inv. by 3.9% during the second quarter. Wasatch Advisors Inc. now owns 8,149,487 shares of the real estate investment trust’s stock worth $110,426,000 after buying an additional 306,988 shares during the period. Virtus ETF Advisers LLC acquired a new position in Monmouth R.E. Inv. during the second quarter valued at $2,658,000. Gamco Investors INC. ET AL acquired a new position in Monmouth R.E. Inv. during the second quarter valued at $1,450,000. Finally, Renaissance Technologies LLC lifted its position in Monmouth R.E. Inv. by 3.7% during the second quarter. Renaissance Technologies LLC now owns 2,616,303 shares of the real estate investment trust’s stock valued at $35,451,000 after purchasing an additional 92,502 shares during the period. 68.47% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms recently issued reports on MNR. Zacks Investment Research downgraded shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Thursday. Compass Point began coverage on shares of Monmouth R.E. Inv. in a research report on Friday, September 6th. They set a “buy” rating and a $16.50 target price for the company. Finally, BMO Capital Markets set a $15.00 target price on shares of Monmouth R.E. Inv. and gave the company a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.40.
Monmouth R.E. Inv. (NYSE:MNR) last posted its earnings results on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The business had revenue of $39.47 million for the quarter, compared to analyst estimates of $39.91 million. Research analysts expect that Monmouth R.E. Inv. Corp. 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, December 16th. Shareholders of record on Friday, November 15th will be issued a $0.17 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.71%. Monmouth R.E. Inv.’s payout ratio is 78.16%.
In other news, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.02, for a total transaction of $104,160.00. Following the completion of the sale, the chairman now owns 895,219 shares of the company’s stock, valued at $11,655,751.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Umh Properties, Inc. bought 17,810 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were bought at an average cost of $13.70 per share, with a total value of $243,997.00. Insiders acquired 24,886 shares of company stock valued at $338,081 in the last ninety days. 4.02% of the stock is owned by corporate insiders.
About Monmouth R.E. Inv.
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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