Renaissance Technologies LLC lifted its holdings in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 14.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,527,100 shares of the real estate investment trust’s stock after purchasing an additional 319,400 shares during the quarter. Renaissance Technologies LLC owned 3.25% of Monmouth R.E. Inv. worth $44,982,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in Monmouth R.E. Inv. by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 52,964 shares of the real estate investment trust’s stock valued at $798,000 after buying an additional 2,098 shares during the last quarter. First Trust Advisors LP raised its position in Monmouth R.E. Inv. by 151.5% in the 3rd quarter. First Trust Advisors LP now owns 54,007 shares of the real estate investment trust’s stock valued at $874,000 after buying an additional 32,533 shares during the last quarter. Principal Financial Group Inc. grew its stake in Monmouth R.E. Inv. by 9.9% in the third quarter. Principal Financial Group Inc. now owns 1,061,677 shares of the real estate investment trust’s stock valued at $17,189,000 after purchasing an additional 95,588 shares in the last quarter. Swiss National Bank grew its stake in Monmouth R.E. Inv. by 5.3% in the third quarter. Swiss National Bank now owns 109,200 shares of the real estate investment trust’s stock valued at $1,768,000 after purchasing an additional 5,500 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Monmouth R.E. Inv. by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 774,598 shares of the real estate investment trust’s stock valued at $12,541,000 after purchasing an additional 38,727 shares in the last quarter. 65.38% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on MNR. Zacks Investment Research downgraded Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Saturday, February 10th. B. Riley downgraded Monmouth R.E. Inv. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $18.50 to $16.50 in a research note on Friday, February 9th. Finally, BMO Capital Markets restated a “hold” rating and issued a $18.00 price target on shares of Monmouth R.E. Inv. in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $17.50.
Shares of NYSE MNR traded down $0.19 during midday trading on Friday, hitting $14.97. 460,630 shares of the company’s stock were exchanged, compared to its average volume of 440,710. The company has a current ratio of 6.85, a quick ratio of 6.85 and a debt-to-equity ratio of 1.50. Monmouth R.E. Inv. Corp. has a 12 month low of $13.87 and a 12 month high of $18.45. The company has a market capitalization of $1,163.05, a P/E ratio of 19.70, a P/E/G ratio of 2.38 and a beta of 0.54.
Monmouth R.E. Inv. (NYSE:MNR) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.04). Monmouth R.E. Inv. had a return on equity of 9.08% and a net margin of 36.04%. The business had revenue of $32.95 million for the quarter, compared to the consensus estimate of $32.48 million. analysts predict that Monmouth R.E. Inv. Corp. will post 0.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Tuesday, May 15th will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, May 14th. This represents a $0.68 annualized dividend and a dividend yield of 4.54%. Monmouth R.E. Inv.’s dividend payout ratio is currently 89.47%.
In other news, Director Catherine B. Elflein purchased 3,460 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $14.38 per share, with a total value of $49,754.80. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 3,672 shares of company stock valued at $52,752. 5.31% of the stock is currently owned by insiders.
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Monmouth R.E. Inv. 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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