Monmouth Real Estate Investment Corporation (MNR) Announces Earnings Results

Monmouth Real Estate Investment Corporation (MNR) Announces  Earnings Results

Monmouth Real Estate Investment Corporation (NYSE:MNR) issued its quarterly earnings results on Thursday. The real estate investment trust reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Monmouth Real Estate Investment Corporation had a return on equity of 6.90% and a net margin of 29.55%. The firm earned $27.18 million during the quarter, compared to the consensus estimate of $23.17 million. During the same period last year, the company earned $0.17 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis.

Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 14.48 on Thursday. Monmouth Real Estate Investment Corporation has a 12 month low of $10.40 and a 12 month high of $15.35. The stock has a market cap of $1.01 billion, a PE ratio of 46.71 and a beta of 0.54. The stock has a 50 day moving average price of $14.85 and a 200-day moving average price of $14.08.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, February 15th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, February 13th. Monmouth Real Estate Investment Corporation’s dividend payout ratio is currently 200.01%.

In related news, Director Matthew I. Hirsch acquired 2,841 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Tuesday, January 17th. The stock was acquired at an average price of $14.08 per share, for a total transaction of $40,001.28. Following the transaction, the director now directly owns 74,179 shares of the company’s stock, valued at approximately $1,044,440.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Umh Properties, Inc. acquired 11,458 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Thursday, December 15th. The shares were bought at an average price of $13.44 per share, with a total value of $153,995.52. The disclosure for this purchase can be found here. Insiders bought a total of 15,383 shares of company stock valued at $207,988 over the last quarter. Company insiders own 5.61% of the company’s stock.

Several equities research analysts recently weighed in on MNR shares. National Securities reaffirmed a “buy” rating and set a $16.50 price target (up from $16.00) on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, December 1st. Zacks Investment Research raised Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Friday, December 2nd. BMO Capital Markets downgraded Monmouth Real Estate Investment Corporation from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $16.00 to $15.00 in a report on Friday, December 2nd. Finally, DA Davidson set a $16.00 price target on Monmouth Real Estate Investment Corporation and gave the stock a “hold” rating in a report on Thursday, December 1st. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $15.67.

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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