Monmouth Real Estate Investment Corporation (MNR) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC lifted its stake in shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) by 16.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 448,861 shares of the real estate investment trust’s stock after purchasing an additional 62,460 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.62% of Monmouth Real Estate Investment Corporation worth $6,755,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MNR. First Trust Advisors LP boosted its position in shares of Monmouth Real Estate Investment Corporation by 14.7% during the 1st quarter. First Trust Advisors LP now owns 97,734 shares of the real estate investment trust’s stock worth $1,395,000 after purchasing an additional 12,540 shares in the last quarter. Swiss National Bank boosted its position in shares of Monmouth Real Estate Investment Corporation by 6.8% during the 1st quarter. Swiss National Bank now owns 103,700 shares of the real estate investment trust’s stock worth $1,480,000 after purchasing an additional 6,600 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Monmouth Real Estate Investment Corporation by 26.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 125,589 shares of the real estate investment trust’s stock worth $1,792,000 after purchasing an additional 26,278 shares in the last quarter. Karp Capital Management Corp bought a new position in shares of Monmouth Real Estate Investment Corporation during the 1st quarter worth about $287,000. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Monmouth Real Estate Investment Corporation by 1.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 130,856 shares of the real estate investment trust’s stock worth $1,867,000 after purchasing an additional 1,946 shares in the last quarter. 60.56% of the stock is currently owned by institutional investors.

A number of equities analysts have recently issued reports on MNR shares. 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 objective on the stock in a research report on Wednesday, August 16th. FBR & Co reissued an “outperform” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. National Securities restated a “buy” rating and issued a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st. Finally, BMO Capital Markets assumed coverage on shares of Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They issued a “market perform” rating and a $16.50 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $17.00.

In related news, Chairman Eugene W. Landy sold 32,500 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $16.27, for a total transaction of $528,775.00. Following the sale, the chairman now owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 1,827 shares of company stock worth $35,170 in the last three months. 5.31% of the stock is currently owned by insiders.

Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 16.75 on Friday. Monmouth Real Estate Investment Corporation has a 12-month low of $12.91 and a 12-month high of $16.83. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 54.03 and a beta of 0.50. The company has a 50 day moving average of $16.21 and a 200-day moving average of $15.25.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last posted its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The business had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. During the same quarter in the previous year, the firm posted $0.19 earnings per share. Monmouth Real Estate Investment Corporation’s quarterly revenue was up 18.7% on a year-over-year basis. Analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.06%. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment Corporation’s payout ratio is presently 213.33%.

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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.

Institutional Ownership by Quarter for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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