Monmouth Real Estate Investment Corporation (MNR) Stake Raised by Cornerstone Capital Inc.

Cornerstone Capital Inc. lifted its holdings in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 27.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 243,805 shares of the real estate investment trust’s stock after buying an additional 51,945 shares during the quarter. Cornerstone Capital Inc. owned approximately 0.34% of Monmouth Real Estate Investment worth $3,947,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Monmouth Real Estate Investment by 3.8% in the second quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock worth $119,724,000 after buying an additional 287,857 shares during the period. BlackRock Inc. raised its holdings in shares of Monmouth Real Estate Investment by 0.3% in the second quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock worth $90,823,000 after buying an additional 16,118 shares during the period. Boulegeris Investments Inc. raised its holdings in shares of Monmouth Real Estate Investment by 0.5% in the third quarter. Boulegeris Investments Inc. now owns 2,407,307 shares of the real estate investment trust’s stock worth $38,573,000 after buying an additional 11,055 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Monmouth Real Estate Investment by 22.5% in the second quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock worth $25,206,000 after buying an additional 307,197 shares during the period. Finally, State Street Corp raised its holdings in shares of Monmouth Real Estate Investment by 7.1% in the second quarter. State Street Corp now owns 1,618,598 shares of the real estate investment trust’s stock worth $24,360,000 after buying an additional 107,580 shares during the period. Hedge funds and other institutional investors own 66.64% of the company’s stock.

Monmouth Real Estate Investment Corporation (NYSE MNR) traded up $0.13 on Monday, reaching $17.99. The company’s stock had a trading volume of 332,700 shares, compared to its average volume of 319,806. The stock has a market cap of $1,380.00, a P/E ratio of 23.36, a P/E/G ratio of 2.75 and a beta of 0.52. Monmouth Real Estate Investment Corporation has a one year low of $13.30 and a one year high of $18.04. The company has a debt-to-equity ratio of 1.52, a current ratio of 4.50 and a quick ratio of 4.50.

Monmouth Real Estate Investment (NYSE:MNR) last released its quarterly earnings data on Wednesday, November 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.12). The firm had revenue of $30.40 million for the quarter, compared to analysts’ expectations of $30.91 million. Monmouth Real Estate Investment had a return on equity of 7.65% and a net margin of 30.84%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share. equities analysts anticipate that Monmouth Real Estate Investment Corporation will post 0.93 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.17 per share. This is an increase from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.78%. The ex-dividend date is Tuesday, November 14th. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is presently 212.50%.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Monmouth Real Estate Investment from a “buy” rating to a “hold” rating in a report on Friday, August 18th. BMO Capital Markets initiated coverage on Monmouth Real Estate Investment in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective on the stock. National Securities restated a “buy” rating and set a $18.00 price objective (up from $16.50) on shares of Monmouth Real Estate Investment in a report on Monday, August 21st. Finally, B. Riley restated a “buy” rating on shares of Monmouth Real Estate Investment in a report on Wednesday, November 1st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Monmouth Real Estate Investment currently has a consensus rating of “Buy” and an average price target of $17.25.

In other Monmouth Real Estate Investment news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.27, for a total transaction of $528,775.00. Following the transaction, the chairman now directly owns 880,705 shares in the company, valued at approximately $14,329,070.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 445 shares of company stock worth $7,004 over the last 90 days. 5.31% of the stock is currently owned by company insiders.

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About Monmouth Real Estate Investment

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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Institutional Ownership by Quarter for Monmouth Real Estate Investment (NYSE:MNR)

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