Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 5.7% during the 4th quarter, Holdings Channel reports. The firm owned 22,602 shares of the real estate investment trust’s stock after acquiring an additional 1,210 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Monmouth R.E. Inv. were worth $280,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc boosted its stake in shares of Monmouth R.E. Inv. by 2.8% in the third quarter. Vanguard Group Inc now owns 7,951,515 shares of the real estate investment trust’s stock valued at $132,950,000 after buying an additional 214,442 shares during the period. Vanguard Group Inc. raised its position in Monmouth R.E. Inv. by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,951,515 shares of the real estate investment trust’s stock worth $132,950,000 after purchasing an additional 214,442 shares during the period. BlackRock Inc. raised its position in Monmouth R.E. Inv. by 2.9% in the 3rd quarter. BlackRock Inc. now owns 7,437,398 shares of the real estate investment trust’s stock worth $124,356,000 after purchasing an additional 206,447 shares during the period. Wasatch Advisors Inc. raised its position in Monmouth R.E. Inv. by 19.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 6,444,876 shares of the real estate investment trust’s stock worth $107,758,000 after purchasing an additional 1,035,717 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Monmouth R.E. Inv. by 1.7% in the third quarter. Renaissance Technologies LLC now owns 2,951,000 shares of the real estate investment trust’s stock valued at $49,341,000 after acquiring an additional 48,700 shares during the period. Institutional investors and hedge funds own 58.57% of the company’s stock.
MNR has been the subject of a number of research reports. ValuEngine raised shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Zacks Investment Research upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Wednesday, November 14th. Finally, Boenning Scattergood set a $19.00 price objective on shares of Monmouth R.E. Inv. and gave the company a “buy” rating in a research report on Thursday, November 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.
In other news, Chairman Eugene W. Landy sold 8,000 shares of the stock in a transaction on Friday, December 14th. The shares were sold at an average price of $13.84, for a total value of $110,720.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael P. Landy bought 2,000 shares of Monmouth R.E. Inv. stock in a transaction dated Friday, November 30th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $27,400.00. Following the purchase, the insider now owns 407,747 shares of the company’s stock, valued at approximately $5,586,133.90. The disclosure for this purchase can be found here. In the last three months, insiders bought 16,674 shares of company stock worth $228,264. Insiders own 4.63% of the company’s stock.
Shares of MNR traded up $0.13 during midday trading on Monday, hitting $13.93. The stock had a trading volume of 159,767 shares, compared to its average volume of 583,331. Monmouth R.E. Inv. Corp. has a 1 year low of $11.88 and a 1 year high of $17.51. The company has a market cap of $1.28 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.03 and a beta of 0.83. The company has a current ratio of 7.46, a quick ratio of 7.46 and a debt-to-equity ratio of 0.09.
Monmouth R.E. Inv. (NYSE:MNR) last announced its earnings results on Wednesday, November 28th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.15). Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.27%. The firm had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $38.18 million. Analysts predict that Monmouth R.E. Inv. Corp. will post 0.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Friday, February 15th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, February 14th. Monmouth R.E. Inv.’s dividend payout ratio is currently 78.16%.
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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. We specialize 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 112 properties containing a total of approximately 21.5 million rentable square feet, geographically diversified across 30 states.
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