Monmouth Real Estate Investment Corporation (MNR) Expected to Post Earnings of $0.21 Per Share

Equities research analysts predict that Monmouth Real Estate Investment Corporation (NYSE:MNR) will post earnings per share of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Monmouth Real Estate Investment Corporation’s earnings, with estimates ranging from $0.20 to $0.22. Monmouth Real Estate Investment Corporation posted earnings of $0.07 per share in the same quarter last year, which would indicate a positive year over year growth rate of 200%. The firm is expected to report its next quarterly earnings report after the market closes on Wednesday, November 29th.

On average, analysts expect that Monmouth Real Estate Investment Corporation will report full year earnings of $0.77 per share for the current financial year, with EPS estimates ranging from $0.75 to $0.79. For the next year, analysts anticipate that the business will post earnings of $0.92 per share, with EPS estimates ranging from $0.88 to $0.97. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Monmouth Real Estate Investment Corporation.

MNR has been the subject of several recent analyst reports. BMO Capital Markets initiated coverage on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective for the company. National Securities reaffirmed a “buy” rating and set a $18.00 price objective (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. BidaskClub cut shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Wednesday, October 4th. Finally, B. Riley reissued a “buy” rating on shares of Monmouth Real Estate Investment Corporation in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Monmouth Real Estate Investment Corporation has an average rating of “Buy” and an average price target of $17.00.

Monmouth Real Estate Investment Corporation (NYSE MNR) traded up $0.03 during trading on Friday, hitting $17.33. 333,524 shares of the stock traded hands, compared to its average volume of 352,580. The stock has a market cap of $1,257.50, a PE ratio of 23.42, a P/E/G ratio of 2.68 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 1-year low of $13.30 and a 1-year high of $17.45. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 1.51.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.17 dividend. The ex-dividend date is Tuesday, November 14th. This is a boost from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 3.92%. Monmouth Real Estate Investment Corporation’s payout ratio is 226.67%.

In related news, Chairman Eugene W. Landy sold 32,500 shares of the business’s 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 directly owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders purchased 1,245 shares of company stock valued at $27,164. 5.31% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sterling Capital Management LLC purchased a new stake in Monmouth Real Estate Investment Corporation in the third quarter valued at $457,000. Cornerstone Capital Inc. raised its holdings in shares of Monmouth Real Estate Investment Corporation by 27.1% in the third quarter. Cornerstone Capital Inc. now owns 243,805 shares of the real estate investment trust’s stock valued at $3,947,000 after buying an additional 51,945 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Monmouth Real Estate Investment Corporation by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 917,622 shares of the real estate investment trust’s stock valued at $14,856,000 after buying an additional 26,755 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Monmouth Real Estate Investment Corporation by 15.5% in the third quarter. Schwab Charles Investment Management Inc. now owns 327,638 shares of the real estate investment trust’s stock valued at $5,305,000 after buying an additional 43,877 shares during the last quarter. Finally, Barings LLC purchased a new stake in shares of Monmouth Real Estate Investment Corporation in the third quarter valued at about $168,000. 62.22% of the stock is owned by hedge funds and other institutional investors.

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About Monmouth Real Estate Investment Corporation

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 Corporation (NYSE:MNR)

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