Zacks Investment Research upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a hold rating to a buy rating in a research note published on Thursday. They currently have $17.00 price target on the real estate investment trust’s stock.
According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
Other research analysts have also issued reports about the stock. BMO Capital Markets restated a hold rating and set a $18.00 price objective on shares of Monmouth R.E. Inv. in a research note on Tuesday, January 9th. B. Riley lowered shares of Monmouth R.E. Inv. from a buy rating to a neutral rating and lowered their price objective for the stock from $18.50 to $16.50 in a research note on Friday, February 9th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $17.33.
Shares of Monmouth R.E. Inv. stock traded down $0.04 during trading on Thursday, hitting $14.97. 112,042 shares of the stock were exchanged, compared to its average volume of 444,056. The firm has a market capitalization of $1,178.59, a PE ratio of 19.75, a P/E/G ratio of 2.41 and a beta of 0.54. Monmouth R.E. Inv. has a 1-year low of $13.87 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 1.50, a current ratio of 6.85 and a quick ratio of 6.85.
Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.04). The firm had revenue of $32.95 million for the quarter, compared to analyst estimates of $32.48 million. Monmouth R.E. Inv. had a return on equity of 9.08% and a net margin of 36.04%. analysts expect that Monmouth R.E. Inv. will post 0.9 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 15th will be paid a $0.17 dividend. The ex-dividend date is Monday, May 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.54%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is currently 89.47%.
In related news, Director Catherine B. Elflein purchased 3,460 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $14.38 per share, for a total transaction of $49,754.80. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last quarter, insiders purchased 3,672 shares of company stock worth $52,752. 4.63% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MNR. BlackRock Inc. boosted its holdings in Monmouth R.E. Inv. by 6.6% in the 4th quarter. BlackRock Inc. now owns 6,702,654 shares of the real estate investment trust’s stock valued at $119,308,000 after purchasing an additional 412,946 shares during the period. Wasatch Advisors Inc. boosted its holdings in Monmouth R.E. Inv. by 194.4% in the 4th quarter. Wasatch Advisors Inc. now owns 3,578,516 shares of the real estate investment trust’s stock valued at $63,698,000 after purchasing an additional 2,362,933 shares during the period. Renaissance Technologies LLC boosted its holdings in Monmouth R.E. Inv. by 14.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,527,100 shares of the real estate investment trust’s stock valued at $44,982,000 after purchasing an additional 319,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Monmouth R.E. Inv. by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 917,622 shares of the real estate investment trust’s stock valued at $14,856,000 after purchasing an additional 26,755 shares during the period. Finally, Emerald Advisers Inc. PA boosted its holdings in Monmouth R.E. Inv. by 20.8% in the 4th quarter. Emerald Advisers Inc. PA now owns 852,439 shares of the real estate investment trust’s stock valued at $15,173,000 after purchasing an additional 146,680 shares during the period. Institutional investors and hedge funds own 65.51% of the company’s stock.
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About Monmouth R.E. Inv.
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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