Monmouth R.E. Inv. Corp. (NYSE:MNR) insider Michael P. Landy acquired 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were bought at an average price of $18.05 per share, with a total value of $25,270.00. Following the completion of the purchase, the insider now owns 370,977 shares in the company, valued at approximately $6,696,134.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Monmouth R.E. Inv. Corp. (MNR) opened at $17.21 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 4.50 and a quick ratio of 4.50. Monmouth R.E. Inv. Corp. has a 52 week low of $13.68 and a 52 week high of $18.45. The firm has a market capitalization of $1,330.00, a price-to-earnings ratio of 53.78, a price-to-earnings-growth ratio of 2.82 and a beta of 0.51.
Monmouth R.E. Inv. (NYSE:MNR) last released its earnings results on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The business had revenue of $30.40 million during the quarter, compared to analysts’ expectations of $30.91 million. Monmouth R.E. Inv. had a return on equity of 7.65% and a net margin of 30.84%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. sell-side analysts expect that Monmouth R.E. Inv. Corp. will post 0.9 EPS for the current year.
Several institutional investors have recently made changes to their positions in the company. Sterling Capital Management LLC purchased a new position in shares of Monmouth R.E. Inv. during the third quarter valued at $457,000. Cornerstone Capital Inc. increased its stake in shares of Monmouth R.E. Inv. by 27.1% during 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 period. Dimensional Fund Advisors LP increased its stake in shares of Monmouth R.E. Inv. by 3.0% during 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 period. Schwab Charles Investment Management Inc. increased its stake in shares of Monmouth R.E. Inv. by 15.5% during 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 period. Finally, Barings LLC purchased a new position in shares of Monmouth R.E. Inv. during the third quarter valued at $168,000. Hedge funds and other institutional investors own 63.11% of the company’s stock.
Several research firms have weighed in on MNR. B. Riley restated a “buy” rating on shares of Monmouth R.E. Inv. in a research note on Wednesday, November 1st. BMO Capital Markets reiterated a “hold” rating and set a $18.00 target price on shares of Monmouth R.E. Inv. in a research report on Tuesday. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, National Securities increased their price target on Monmouth R.E. Inv. from $18.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, December 6th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.83.
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Monmouth R.E. Inv. 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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