Monmouth Real Estate Investment Corporation (MNR) Now Covered by Analysts at BMO Capital Markets

Investment analysts at BMO Capital Markets initiated coverage on shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) in a research report issued on Monday, Marketbeat.com reports. The brokerage set a “market perform” rating and a $16.50 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 3.64% from the company’s previous close.

Several other research firms have also commented on MNR. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, August 16th. FBR & Co reaffirmed an “outperform” rating and set a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. BidaskClub lowered shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. National Securities reaffirmed a “buy” rating and set a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Finally, DA Davidson raised shares of Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Thursday, May 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Monmouth Real Estate Investment Corporation has an average rating of “Buy” and an average target price of $16.80.

Monmouth Real Estate Investment Corporation (NYSE MNR) traded down 1.91% on Monday, hitting $15.92. The stock had a trading volume of 320,886 shares. The stock has a market cap of $1.18 billion, a PE ratio of 53.60 and a beta of 0.50. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $16.43. The firm’s 50 day moving average price is $15.54 and its 200-day moving average price is $14.92.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last released its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. The firm had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts forecast that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in MNR. Envestnet Asset Management Inc. raised its position in Monmouth Real Estate Investment Corporation by 8.0% in the first quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock valued at $109,000 after purchasing an additional 559 shares during the period. SG Americas Securities LLC purchased a new stake in Monmouth Real Estate Investment Corporation in the first quarter valued at approximately $125,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Monmouth Real Estate Investment Corporation by 15.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,715 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,600 shares during the period. Financial Counselors Inc. purchased a new stake in Monmouth Real Estate Investment Corporation in the first quarter valued at approximately $171,000. Finally, QS Investors LLC raised its position in Monmouth Real Estate Investment Corporation by 6.8% in the second quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 720 shares during the period. 60.58% of the stock is currently owned by institutional investors.

About Monmouth Real Estate Investment Corporation

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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