$32.48 Million in Sales Expected for Monmouth Real Estate Investment Corporation (MNR) This Quarter

Equities research analysts expect that Monmouth Real Estate Investment Corporation (NYSE:MNR) will report $32.48 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Monmouth Real Estate Investment’s earnings. The lowest sales estimate is $31.74 million and the highest is $32.87 million. Monmouth Real Estate Investment reported sales of $27.18 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The business is scheduled to issue its next earnings results on Wednesday, February 14th.

On average, analysts expect that Monmouth Real Estate Investment will report full-year sales of $32.48 million for the current fiscal year, with estimates ranging from $134.51 million to $144.84 million. For the next financial year, analysts anticipate that the firm will report sales of $158.55 million per share, with estimates ranging from $147.71 million to $172.78 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Monmouth Real Estate Investment.

Monmouth Real Estate Investment (NYSE:MNR) last issued its quarterly earnings data on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $30.91 million. During the same quarter last year, the business earned $0.22 earnings per share. Monmouth Real Estate Investment’s revenue was up 19.2% compared to the same quarter last year.

A number of equities research analysts have weighed in on the company. National Securities lifted their target price on Monmouth Real Estate Investment from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Zacks Investment Research downgraded Monmouth Real Estate Investment from a “hold” rating to a “sell” rating in a report on Wednesday, December 6th. B. Riley lifted their target price on Monmouth Real Estate Investment from $16.50 to $18.50 and gave the stock a “buy” rating in a report on Friday, December 1st. Finally, BMO Capital Markets assumed coverage on Monmouth Real Estate Investment in a report on Monday, September 11th. They issued a “market perform” rating and a $16.50 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Monmouth Real Estate Investment presently has a consensus rating of “Hold” and a consensus price target of $17.58.

Shares of Monmouth Real Estate Investment (MNR) traded down $0.10 on Friday, hitting $17.87. The stock had a trading volume of 346,039 shares, compared to its average volume of 322,361. The company has a market capitalization of $1,380.54, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.52. Monmouth Real Estate Investment has a 52 week low of $13.68 and a 52 week high of $18.45.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.17 dividend. This is an increase from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Tuesday, November 14th. Monmouth Real Estate Investment’s payout ratio is presently 212.51%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its holdings in shares of Monmouth Real Estate Investment by 10.5% during the second quarter. Teachers Advisors LLC now owns 144,373 shares of the real estate investment trust’s stock valued at $2,173,000 after acquiring an additional 13,679 shares in the last quarter. State Street Corp increased its holdings in shares of Monmouth Real Estate Investment by 7.1% during the second quarter. State Street Corp now owns 1,618,598 shares of the real estate investment trust’s stock valued at $24,360,000 after acquiring an additional 107,580 shares in the last quarter. IndexIQ Advisors LLC increased its holdings in shares of Monmouth Real Estate Investment by 14.4% during the second quarter. IndexIQ Advisors LLC now owns 81,205 shares of the real estate investment trust’s stock valued at $1,222,000 after acquiring an additional 10,211 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Monmouth Real Estate Investment by 0.3% during the second quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock valued at $90,823,000 after acquiring an additional 16,118 shares in the last quarter. Finally, Boulegeris Investments Inc. increased its holdings in shares of Monmouth Real Estate Investment by 1.6% during the second quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock valued at $36,063,000 after acquiring an additional 38,494 shares in the last quarter. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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Monmouth Real Estate Investment 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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Earnings History and Estimates for Monmouth Real Estate Investment (NYSE:MNR)

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