$32.48 Million in Sales Expected for Monmouth R.E. Inv. Corp. (MNR) This Quarter

Wall Street analysts expect Monmouth R.E. Inv. Corp. (NYSE:MNR) to post $32.48 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Monmouth R.E. Inv.’s earnings. The lowest sales estimate is $31.74 million and the highest is $32.87 million. Monmouth R.E. Inv. reported sales of $27.18 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.5%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Monmouth R.E. Inv. will report full-year sales of $32.48 million for the current financial year, with estimates ranging from $134.51 million to $144.84 million. For the next financial year, analysts anticipate that the business will report sales of $158.55 million per share, with estimates ranging from $147.71 million to $172.78 million. Zacks’ sales averages are an average based on a survey of analysts that follow Monmouth R.E. Inv..

Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings results on Wednesday, November 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.12). Monmouth R.E. Inv. had a net margin of 30.84% and a return on equity of 7.65%. The company had revenue of $30.40 million for the quarter, compared to the consensus estimate of $30.91 million. During the same period last year, the company earned $0.22 earnings per share. Monmouth R.E. Inv.’s revenue for the quarter was up 19.2% compared to the same quarter last year.

Several analysts have recently commented on MNR shares. BMO Capital Markets reissued a “hold” rating and set a $18.00 price target on shares of Monmouth R.E. Inv. in a research note on Tuesday, January 9th. Zacks Investment Research cut shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Wednesday, December 6th. B. Riley increased their price target on shares of Monmouth R.E. Inv. from $16.50 to $18.50 and gave the company a “buy” rating in a research note on Friday, December 1st. Finally, National Securities increased their price target on shares of Monmouth R.E. Inv. from $18.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, December 6th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $17.83.

Monmouth R.E. Inv. (NYSE:MNR) traded down $0.13 on Monday, hitting $16.96. 187,319 shares of the stock traded hands, compared to its average volume of 320,454. Monmouth R.E. Inv. has a twelve month low of $13.68 and a twelve month high of $18.45. The company has a debt-to-equity ratio of 1.52, a current ratio of 4.50 and a quick ratio of 4.50. The company has a market capitalization of $1,310.00, a PE ratio of 52.87, a P/E/G ratio of 2.69 and a beta of 0.51.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, February 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, February 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.01%. Monmouth R.E. Inv.’s payout ratio is presently 212.50%.

In other Monmouth R.E. Inv. news, insider Umh Properties, Inc. acquired 9,053 shares of Monmouth R.E. Inv. stock in a transaction on Friday, December 15th. The shares were purchased at an average cost of $17.01 per share, with a total value of $153,991.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael P. Landy acquired 1,400 shares of Monmouth R.E. Inv. stock in a transaction on Tuesday, December 19th. The stock was acquired at an average cost of $18.05 per share, for a total transaction of $25,270.00. Following the completion of the purchase, the insider now owns 370,977 shares of the company’s stock, valued at approximately $6,696,134.85. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 10,573 shares of company stock worth $181,266. Insiders own 5.31% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Monmouth R.E. Inv. by 3.8% in the second quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock worth $119,724,000 after purchasing an additional 287,857 shares during the period. BlackRock Inc. raised its holdings in Monmouth R.E. Inv. by 0.3% in the second quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock worth $90,823,000 after purchasing an additional 16,118 shares during the period. Wasatch Advisors Inc. raised its holdings in Monmouth R.E. Inv. by 194.4% in the fourth quarter. Wasatch Advisors Inc. now owns 3,578,516 shares of the real estate investment trust’s stock worth $63,698,000 after purchasing an additional 2,362,933 shares during the period. Boulegeris Investments Inc. raised its holdings in Monmouth R.E. Inv. by 0.5% in the third quarter. Boulegeris Investments Inc. now owns 2,407,307 shares of the real estate investment trust’s stock worth $38,573,000 after purchasing an additional 11,055 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Monmouth R.E. Inv. by 22.5% in the second quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock worth $25,206,000 after purchasing an additional 307,197 shares during the period. 66.11% of the stock is currently owned by hedge funds and other institutional investors.

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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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Earnings History and Estimates for Monmouth R.E. Inv. (NYSE:MNR)

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