Monmouth R.E. Inv. (MNR) Lowered to Sell at ValuEngine

ValuEngine cut shares of Monmouth R.E. Inv. (NYSE:MNR) from a hold rating to a sell rating in a research report sent to investors on Friday.

Several other research firms have also issued reports on MNR. Boenning Scattergood reissued a buy rating and issued a $19.00 target price on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. Zacks Investment Research lowered shares of Monmouth R.E. Inv. from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, B. Riley upgraded Monmouth R.E. Inv. from a neutral rating to a buy rating and dropped their price target for the stock from $17.50 to $17.00 in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $18.60.

Monmouth R.E. Inv. stock opened at $13.93 on Friday. The company has a market capitalization of $1.28 billion, a P/E ratio of 16.01, a PEG ratio of 1.99 and a beta of 0.67. Monmouth R.E. Inv. has a 12-month low of $13.64 and a 12-month high of $18.45. The company has a quick ratio of 5.61, a current ratio of 3.43 and a debt-to-equity ratio of 1.76.

Monmouth R.E. Inv. (NYSE:MNR) last released its earnings results on Wednesday, November 28th. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.15). The firm had revenue of $36.60 million during the quarter, compared to analysts’ expectations of $38.18 million. Monmouth R.E. Inv. had a return on equity of 9.61% and a net margin of 34.09%. Analysts forecast that Monmouth R.E. Inv. will post 1.01 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Thursday, November 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.88%. Monmouth R.E. Inv.’s payout ratio is 78.16%.

In other Monmouth R.E. Inv. news, insider Umh Properties, Inc. purchased 9,396 shares of the company’s stock in a transaction on Monday, September 17th. The stock was acquired at an average cost of $16.39 per share, for a total transaction of $154,000.44. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael P. Landy purchased 2,000 shares of the company’s stock in a transaction on Friday, November 30th. The stock was acquired at an average price of $13.70 per share, with a total value of $27,400.00. Following the completion of the purchase, the insider now directly owns 407,747 shares in the company, valued at $5,586,133.90. The disclosure for this purchase can be found here. Insiders acquired a total of 13,841 shares of company stock valued at $216,122 over the last 90 days. 4.63% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Monmouth R.E. Inv. by 6.1% in the 2nd quarter. BlackRock Inc. now owns 7,230,951 shares of the real estate investment trust’s stock worth $119,529,000 after purchasing an additional 415,601 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Monmouth R.E. Inv. by 7.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 400,247 shares of the real estate investment trust’s stock worth $6,617,000 after purchasing an additional 27,598 shares during the period. Wells Fargo & Company MN boosted its stake in Monmouth R.E. Inv. by 25.6% in the 2nd quarter. Wells Fargo & Company MN now owns 923,547 shares of the real estate investment trust’s stock worth $15,265,000 after purchasing an additional 188,451 shares during the period. Montag A & Associates Inc. bought a new position in Monmouth R.E. Inv. in the 3rd quarter worth approximately $17,471,000. Finally, Oppenheimer & Co. Inc. boosted its stake in Monmouth R.E. Inv. by 26.4% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 45,423 shares of the real estate investment trust’s stock worth $751,000 after purchasing an additional 9,494 shares during the period. Institutional investors and hedge funds own 64.04% of the company’s stock.

About Monmouth R.E. Inv.

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes 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 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.

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