$0.21 EPS Expected for Monmouth Real Estate Investment Corporation (MNR) This Quarter

Equities research analysts expect Monmouth Real Estate Investment Corporation (NYSE:MNR) to announce $0.21 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Monmouth Real Estate Investment Corporation’s earnings, with estimates ranging from $0.20 to $0.22. Monmouth Real Estate Investment Corporation reported earnings of $0.07 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 200%. The company is expected to report its next quarterly earnings report after the market closes on Wednesday, November 29th.

On average, analysts expect that Monmouth Real Estate Investment Corporation will report full year earnings of $0.77 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $0.79. For the next year, analysts forecast that the company will post earnings of $0.92 per share, with EPS estimates ranging from $0.88 to $0.97. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Monmouth Real Estate Investment Corporation.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The firm had revenue of $28.61 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same period in the prior year, the firm posted $0.19 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year.

Several equities research analysts recently weighed in on MNR shares. BMO Capital Markets started coverage on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $16.50 price target for the company. FBR & Co reissued an “outperform” rating and set a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. National Securities reissued a “buy” rating and set a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Finally, BidaskClub downgraded shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Monmouth Real Estate Investment Corporation has an average rating of “Buy” and a consensus price target of $17.00.

Monmouth Real Estate Investment Corporation (MNR) opened at 17.03 on Monday. The firm has a market capitalization of $1.27 billion, a PE ratio of 57.34 and a beta of 0.50. Monmouth Real Estate Investment Corporation has a 12 month low of $12.91 and a 12 month high of $17.14. The company’s 50-day moving average price is $16.49 and its 200 day moving average price is $15.46.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.99%. The ex-dividend date is Tuesday, November 14th. This is an increase from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment Corporation’s payout ratio is 213.33%.

In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.27, for a total value of $528,775.00. Following the completion of the sale, the chairman now owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last ninety days, insiders acquired 1,602 shares of company stock valued at $32,174. 5.31% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Renaissance Technologies LLC grew its position in shares of Monmouth Real Estate Investment Corporation by 22.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock valued at $25,206,000 after acquiring an additional 307,197 shares during the period. Vanguard Group Inc. grew its position in shares of Monmouth Real Estate Investment Corporation by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock valued at $119,724,000 after acquiring an additional 287,857 shares during the period. Eagle Asset Management Inc. bought a new stake in shares of Monmouth Real Estate Investment Corporation during the 2nd quarter valued at $3,897,000. Monarch Partners Asset Management LLC bought a new stake in shares of Monmouth Real Estate Investment Corporation during the 2nd quarter valued at $3,624,000. Finally, State Street Corp grew its position in shares of Monmouth Real Estate Investment Corporation by 17.1% during the 1st quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock valued at $21,566,000 after acquiring an additional 220,934 shares during the period. 60.56% of the stock is owned by institutional investors and hedge funds.

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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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