First Trust Advisors LP boosted its holdings in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 151.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,007 shares of the real estate investment trust’s stock after buying an additional 32,533 shares during the quarter. First Trust Advisors LP owned approximately 0.07% of Monmouth Real Estate Investment worth $874,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of MNR. Renaissance Technologies LLC raised its holdings in Monmouth Real Estate Investment by 22.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock valued at $25,206,000 after buying an additional 307,197 shares during the last quarter. Vanguard Group Inc. raised its holdings in Monmouth Real Estate Investment by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock valued at $119,724,000 after buying an additional 287,857 shares during the last quarter. Eagle Asset Management Inc. bought a new position in Monmouth Real Estate Investment in the 2nd quarter valued at approximately $3,897,000. Monarch Partners Asset Management LLC bought a new position in Monmouth Real Estate Investment in the 2nd quarter valued at approximately $3,624,000. Finally, State Street Corp raised its holdings in Monmouth Real Estate Investment by 17.1% in the 1st quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock valued at $21,566,000 after buying an additional 220,934 shares during the last quarter. Institutional investors and hedge funds own 66.64% of the company’s stock.
A number of research analysts recently issued reports on the stock. B. Riley raised their price objective on shares of Monmouth Real Estate Investment from $16.50 to $18.50 and gave the company a “buy” rating in a report on Friday, December 1st. Zacks Investment Research lowered shares of Monmouth Real Estate Investment from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets began coverage on shares of Monmouth Real Estate Investment in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 price target for the company. Finally, National Securities restated a “buy” rating and set a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.25.
Monmouth Real Estate Investment Corporation (NYSE MNR) traded down $0.56 during trading on Wednesday, reaching $17.63. 398,400 shares of the company’s stock traded hands, compared to its average volume of 320,868. The company has a current ratio of 4.50, a quick ratio of 4.50 and a debt-to-equity ratio of 1.52. Monmouth Real Estate Investment Corporation has a 52-week low of $13.68 and a 52-week high of $18.45. The company has a market cap of $1,392.79, a price-to-earnings ratio of 23.62, a price-to-earnings-growth ratio of 2.90 and a beta of 0.52.
Monmouth Real Estate Investment (NYSE:MNR) last released its quarterly earnings results on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.12). Monmouth Real Estate Investment had a return on equity of 7.65% and a net margin of 30.84%. The firm had revenue of $30.40 million for the quarter, compared to the consensus estimate of $30.91 million. During the same quarter in the previous year, the business posted $0.22 EPS. The firm’s revenue for the quarter was up 19.2% compared to the same quarter last year. equities research analysts expect that Monmouth Real Estate Investment Corporation will post 0.9 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.17 per share. This is a positive change from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.68 annualized dividend and a yield of 3.86%. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is presently 212.51%.
In other news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment stock in a transaction on Monday, September 11th. The shares were sold at an average price of $16.27, for a total value of $528,775.00. Following the completion of the sale, the chairman now owns 880,705 shares in the company, valued at approximately $14,329,070.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have acquired 445 shares of company stock valued at $7,004. Company insiders own 5.31% of the company’s stock.
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About Monmouth Real Estate Investment
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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