Monmouth R.E. Inv. Corp. (MNR) Receives $16.20 Average Price Target from Analysts

Monmouth R.E. Inv. Corp. (NYSE:MNR) has received an average rating of “Hold” from the eight analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $16.20.

A number of brokerages have issued reports on MNR. TheStreet downgraded shares of Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a report on Friday, February 15th. Zacks Investment Research upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Royal Bank of Canada began coverage on shares of Monmouth R.E. Inv. in a report on Friday, March 29th. They issued a “sector perform” rating and a $14.00 price target on the stock. ValuEngine upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Boenning Scattergood set a $18.00 price target on shares of Monmouth R.E. Inv. and gave the company a “buy” rating in a report on Friday, February 8th.

In other Monmouth R.E. Inv. news, insider Michael P. Landy bought 2,100 shares of Monmouth R.E. Inv. stock in a transaction dated Tuesday, March 19th. The shares were purchased at an average cost of $13.18 per share, for a total transaction of $27,678.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Eugene W. Landy sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $266,800.00. Following the completion of the sale, the chairman now owns 918,733 shares in the company, valued at $12,255,898.22. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 22,713 shares of company stock worth $287,689 and sold 29,000 shares worth $396,800. Insiders own 4.02% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can increased its holdings in shares of Monmouth R.E. Inv. by 35.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 16,975 shares of the real estate investment trust’s stock worth $203,000 after buying an additional 4,472 shares during the last quarter. Vanguard Group Inc increased its holdings in shares of 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 buying an additional 214,442 shares during the last quarter. Addison Capital Co purchased a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth about $310,000. Pensionfund DSM Netherlands boosted its stake in shares of Monmouth R.E. Inv. by 27.5% during the 4th quarter. Pensionfund DSM Netherlands now owns 116,000 shares of the real estate investment trust’s stock worth $1,438,000 after purchasing an additional 25,000 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Monmouth R.E. Inv. by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,049,480 shares of the real estate investment trust’s stock worth $17,547,000 after purchasing an additional 3,793 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.

NYSE MNR traded up $0.25 on Thursday, reaching $13.36. The company had a trading volume of 266,104 shares, compared to its average volume of 525,046. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.46 and a current ratio of 7.46. The company has a market cap of $1.23 billion, a P/E ratio of 15.36, a P/E/G ratio of 2.04 and a beta of 0.79. Monmouth R.E. Inv. has a 12 month low of $11.88 and a 12 month high of $17.51.

Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.59). The company had revenue of $39.15 million during the quarter, compared to the consensus estimate of $40.22 million. Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.27%. As a group, analysts forecast that Monmouth R.E. Inv. will post 0.94 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be issued a $0.17 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.09%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 78.16%.

About Monmouth R.E. Inv.

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 21.6 million rentable square feet, geographically diversified across 30 states.

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Analyst Recommendations for Monmouth R.E. Inv. (NYSE:MNR)

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