Wells Fargo & Company MN increased its position in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 764,867 shares of the real estate investment trust’s stock after acquiring an additional 59,229 shares during the period. Wells Fargo & Company MN owned about 1.00% of Monmouth R.E. Inv. worth $13,615,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in shares of Monmouth R.E. Inv. by 6,031.6% during the 4th quarter. Meeder Asset Management Inc. now owns 5,825 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 5,730 shares during the period. Barings LLC purchased a new position in shares of Monmouth R.E. Inv. during the 3rd quarter valued at $168,000. Schroder Investment Management Group purchased a new position in shares of Monmouth R.E. Inv. during the 3rd quarter valued at $182,000. Winslow Evans & Crocker Inc. lifted its stake in shares of Monmouth R.E. Inv. by 90.2% during the 4th quarter. Winslow Evans & Crocker Inc. now owns 10,650 shares of the real estate investment trust’s stock valued at $190,000 after buying an additional 5,050 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Monmouth R.E. Inv. by 77.4% during the 3rd quarter. SG Americas Securities LLC now owns 11,868 shares of the real estate investment trust’s stock valued at $192,000 after buying an additional 5,179 shares in the last quarter. Institutional investors own 65.38% of the company’s stock.
In related news, Director Catherine B. Elflein bought 3,460 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders bought 3,672 shares of company stock worth $52,752. Company insiders own 5.31% of the company’s stock.
MNR has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Wednesday, January 3rd. BMO Capital Markets reiterated a “hold” rating and set a $18.00 price target on shares of Monmouth R.E. Inv. in a report on Tuesday, January 9th. Finally, B. Riley downgraded shares of Monmouth R.E. Inv. from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $18.50 to $16.50 in a research note on Friday, February 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Monmouth R.E. Inv. currently has an average rating of “Hold” and an average price target of $17.50.
Shares of NYSE MNR traded down $0.19 during midday trading on Friday, reaching $14.97. The company had a trading volume of 460,630 shares, compared to its average volume of 440,710. The stock has a market cap of $1,163.05, a P/E ratio of 18.71, a P/E/G ratio of 2.38 and a beta of 0.54. Monmouth R.E. Inv. Corp. has a 1 year low of $13.87 and a 1 year high of $18.45. 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. (NYSE:MNR) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.04). The company had revenue of $32.95 million during the quarter, compared to analysts’ expectations of $32.48 million. Monmouth R.E. Inv. had a return on equity of 9.08% and a net margin of 36.04%. sell-side analysts forecast that Monmouth R.E. Inv. Corp. will post 0.9 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, May 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, May 14th. This represents a $0.68 annualized dividend and a yield of 4.54%. Monmouth R.E. Inv.’s dividend payout ratio is presently 89.47%.
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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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