According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “
Other analysts have also issued research reports about the stock. B. Riley reaffirmed a buy rating on shares of Monmouth R.E. Inv. in a report on Tuesday, October 15th. BMO Capital Markets set a $15.00 price target on shares of Monmouth R.E. Inv. and gave the stock a hold rating in a research note on Friday, August 2nd. Finally, Compass Point assumed coverage on shares of Monmouth R.E. Inv. in a research note on Friday, September 6th. They issued a buy rating and a $16.50 price target for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $15.40.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.62%. Monmouth R.E. Inv.’s dividend payout ratio is presently 78.16%.
In other Monmouth R.E. Inv. news, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $13.02, for a total value of $104,160.00. Following the completion of the transaction, the chairman now owns 895,219 shares of the company’s stock, valued at approximately $11,655,751.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Umh Properties, Inc. acquired 17,810 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $13.70 per share, with a total value of $243,997.00. In the last three months, insiders acquired 24,880 shares of company stock valued at $338,088. Corporate insiders own 4.02% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Optimum Investment Advisors purchased a new stake in shares of Monmouth R.E. Inv. in the 3rd quarter valued at $43,000. Tower Research Capital LLC TRC boosted its stake in shares of Monmouth R.E. Inv. by 140.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 2,066 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $51,000. Kavar Capital Partners LLC purchased a new stake in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $56,000. Finally, WealthStone Inc. purchased a new stake in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $58,000. 68.78% of the stock is owned by institutional investors.
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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