Monmouth R.E. Inv. Corp. (NYSE:MNR) – Analysts at B. Riley dropped their FY2019 earnings estimates for Monmouth R.E. Inv. in a report released on Monday, August 5th, Zacks Investment Research reports. B. Riley analyst C. Kucera now anticipates that the real estate investment trust will earn $0.87 per share for the year, down from their prior forecast of $0.88.
Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The firm had revenue of $39.47 million for the quarter, compared to the consensus estimate of $39.91 million.
Several other brokerages have also weighed in on MNR. Zacks Investment Researchlowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine raised shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Boenning Scattergood reissued a “buy” rating and set a $17.50 price objective on shares of Monmouth R.E. Inv. in a research report on Friday, May 10th. Finally, BMO Capital Markets set a $15.00 price objective on shares of Monmouth R.E. Inv. and gave the company a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $15.50.
NYSE MNR traded up $0.05 on Wednesday, hitting $13.14. 218,064 shares of the stock traded hands, compared to its average volume of 460,892. The business’s fifty day moving average is $13.48 and its two-hundred day moving average is $13.59. Monmouth R.E. Inv. has a 12 month low of $11.88 and a 12 month high of $17.51. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 15.10 and a beta of 0.65. The company has a debt-to-equity ratio of 1.34, a quick ratio of 6.64 and a current ratio of 6.64.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.18%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 78.16%.
Several large investors have recently bought and sold shares of the company. Ronna Sue Cohen lifted its holdings in Monmouth R.E. Inv. by 1,279.3% during the 1st quarter. Ronna Sue Cohen now owns 1,977,103 shares of the real estate investment trust’s stock worth $1,977,000 after buying an additional 1,833,764 shares during the period. Nuveen Asset Management LLC lifted its stake in Monmouth R.E. Inv. by 2,150.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,581,041 shares of the real estate investment trust’s stock worth $21,423,000 after purchasing an additional 1,510,800 shares in the last quarter. FMR LLC raised its position in shares of Monmouth R.E. Inv. by 132,971,100.0% during the 1st quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock valued at $17,526,000 after buying an additional 1,329,711 shares in the last quarter. Kennedy Capital Management Inc. purchased a new stake in shares of Monmouth R.E. Inv. during the 1st quarter valued at about $9,434,000. Finally, Wasatch Advisors Inc. raised its position in shares of Monmouth R.E. Inv. by 3.9% during the 2nd quarter. Wasatch Advisors Inc. now owns 8,149,487 shares of the real estate investment trust’s stock valued at $110,426,000 after buying an additional 306,988 shares in the last quarter. 66.68% of the stock is currently owned by institutional investors and hedge funds.
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 21.8 million rentable square feet, geographically diversified across 30 states.