Analysts predict that Monmouth R.E. Inv. Corp. (NYSE:MNR) will post $38.18 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for Monmouth R.E. Inv.’s earnings. The highest sales estimate is $40.63 million and the lowest is $36.50 million. Monmouth R.E. Inv. posted sales of $26.37 million in the same quarter last year, which suggests a positive year-over-year growth rate of 44.8%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, November 28th.
On average, analysts expect that Monmouth R.E. Inv. will report full-year sales of $140.74 million for the current year, with estimates ranging from $139.28 million to $143.40 million. For the next financial year, analysts expect that the company will post sales of $168.87 million, with estimates ranging from $162.42 million to $176.26 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Monmouth R.E. Inv..
Several equities research analysts have recently issued reports on the company. ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Boenning Scattergood reaffirmed a “buy” rating and issued a $19.00 target price on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. Zacks Investment Research raised Monmouth R.E. Inv. from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Tuesday, July 17th. Finally, B. Riley raised Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $17.50 to $17.00 in a report on Tuesday, October 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.60.
Shares of MNR stock opened at $14.83 on Wednesday. Monmouth R.E. Inv. has a 12-month low of $13.87 and a 12-month high of $18.45. The company has a current ratio of 5.61, a quick ratio of 5.61 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $1.19 billion, a PE ratio of 19.51, a PEG ratio of 2.09 and a beta of 0.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.59%. Monmouth R.E. Inv.’s payout ratio is currently 89.47%.
In related news, insider Umh Properties, Inc. acquired 9,396 shares of Monmouth R.E. Inv. stock in a transaction on Monday, September 17th. The shares were bought at an average cost of $16.39 per share, with a total value of $154,000.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $16.84, for a total value of $134,720.00. Following the sale, the chairman now directly owns 852,776 shares in the company, valued at $14,360,747.84. The disclosure for this sale can be found here. Insiders have acquired 12,414 shares of company stock worth $201,001 over the last three months. 4.63% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MNR. Cubist Systematic Strategies LLC bought a new stake in Monmouth R.E. Inv. during the first quarter worth approximately $174,000. Amalgamated Bank bought a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $175,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $180,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $183,000. Finally, Ausdal Financial Partners Inc. bought a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $187,000. 62.69% of the stock is currently owned by institutional investors.
Monmouth R.E. Inv. Company Profile
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully-integrated and self-managed real estate company, whose property portfolio consists of 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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