Zacks Investment Research upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a sell rating to a hold rating in a research note published on Wednesday, Zacks.com reports.
According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
A number of other research analysts have also issued reports on MNR. BMO Capital Markets set a $15.00 price target on shares of Monmouth R.E. Inv. and gave the company a hold rating in a research note on Friday, August 2nd. ValuEngine raised shares of Monmouth R.E. Inv. from a sell rating to a hold rating in a report on Friday, May 10th. Finally, Boenning Scattergood reaffirmed a buy rating and issued a $17.50 price objective on shares of Monmouth R.E. Inv. in a report on Friday, May 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $15.50.
Monmouth R.E. Inv. stock traded up $0.08 during mid-day trading on Wednesday, reaching $13.14. 10,625 shares of the company traded hands, compared to its average volume of 399,810. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 1.34. Monmouth R.E. Inv. has a fifty-two week low of $11.88 and a fifty-two week high of $17.51. The firm has a market capitalization of $1.25 billion, a P/E ratio of 15.10 and a beta of 0.65. The company has a fifty day moving average price of $13.63.
Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The company had revenue of $39.47 million for the quarter, compared to analyst estimates of $39.91 million. Research analysts anticipate that Monmouth R.E. Inv. will post 0.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 5.18%. The ex-dividend date is Wednesday, August 14th. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is currently 78.16%.
Several hedge funds have recently added to or reduced their stakes in MNR. Nuveen Asset Management LLC increased its position in Monmouth R.E. Inv. by 2,150.9% during the second quarter. Nuveen Asset Management LLC now owns 1,581,041 shares of the real estate investment trust’s stock worth $21,423,000 after purchasing an additional 1,510,800 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Monmouth R.E. Inv. by 37.4% during the second quarter. Price T Rowe Associates Inc. MD now owns 132,444 shares of the real estate investment trust’s stock worth $1,795,000 after purchasing an additional 36,081 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in Monmouth R.E. Inv. by 146.3% during the second quarter. D. E. Shaw & Co. Inc. now owns 28,490 shares of the real estate investment trust’s stock worth $387,000 after purchasing an additional 16,924 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Monmouth R.E. Inv. during the second quarter worth about $51,000. Finally, Marshall Wace LLP acquired a new stake in Monmouth R.E. Inv. during the second quarter worth about $361,000. 66.37% of the stock is currently owned by institutional investors and hedge funds.
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 113 properties containing a total of approximately 21.8 million rentable square feet, geographically diversified across 30 states.
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