Loeb Partners Corp Has $1.76 Million Stake in Monmouth Real Estate Investment Corporation (NYSE:MNR)

Loeb Partners Corp increased its position in shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,692 shares of the real estate investment trust’s stock after buying an additional 10,000 shares during the period. Loeb Partners Corp owned approximately 0.16% of Monmouth Real Estate Investment Corporation worth $1,756,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Monmouth Real Estate Investment Corporation during the fourth quarter valued at about $635,000. State Street Corp raised its stake in shares of Monmouth Real Estate Investment Corporation by 9.6% in the fourth quarter. State Street Corp now owns 1,290,084 shares of the real estate investment trust’s stock valued at $19,660,000 after buying an additional 112,701 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Monmouth Real Estate Investment Corporation by 3.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 782,461 shares of the real estate investment trust’s stock worth $11,924,000 after buying an additional 28,883 shares during the period. Envestnet Asset Management Inc. purchased a new position in shares of Monmouth Real Estate Investment Corporation during the fourth quarter worth about $108,000. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of Monmouth Real Estate Investment Corporation by 9.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 49,996 shares of the real estate investment trust’s stock worth $762,000 after buying an additional 4,139 shares during the period. Institutional investors and hedge funds own 58.35% of the company’s stock.

Monmouth Real Estate Investment Corporation (MNR) traded up 0.13% during trading on Friday, hitting $15.13. 326,322 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $15.28 and its 200 day moving average price is $14.77. The stock has a market cap of $1.12 billion, a P/E ratio of 50.94 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 12-month low of $12.89 and a 12-month high of $15.67.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last announced its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $28.61 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue was up 18.7% on a year-over-year basis. Analysts anticipate that Monmouth Real Estate Investment Corporation will post $0.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, August 11th. Monmouth Real Estate Investment Corporation’s payout ratio is 213.33%.

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A number of equities analysts have weighed in on MNR shares. BidaskClub lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. DA Davidson upgraded Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, May 18th. Zacks Investment Research cut Monmouth Real Estate Investment Corporation from a “strong-buy” rating to a “sell” rating in a research report on Thursday, May 11th. National Securities reiterated a “buy” rating and issued a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, May 4th. Finally, FBR & Co restated an “outperform” rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $16.20.

Monmouth Real Estate Investment Corporation Company Profile

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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