Today, Monmouth Real Estate Investment Corp. (MNR) Position Increased by IndexIQ Advisors LLC

Today, Monmouth Real Estate Investment Corp. (MNR) Position Increased by IndexIQ Advisors LLC
IndexIQ Advisors LLC increased its stake in shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) by 27.6% during the third quarter, Holdings Channel reports. The institutional investor owned 62,643 shares of the real estate investment trust’s stock after buying an additional 13,550 shares during the period. IndexIQ Advisors LLC owned about 0.09% of Monmouth Real Estate Investment Corp. worth $894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Monmouth Real Estate Investment Corp. by 21.0% in the second quarter. Teacher Retirement System of Texas now owns 8,163 shares of the real estate investment trust’s stock valued at $108,000 after buying an additional 1,418 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in Monmouth Real Estate Investment Corp. during the second quarter valued at $125,000. Bank of Montreal Can bought a new position in Monmouth Real Estate Investment Corp. during the second quarter valued at $139,000. KCG Holdings Inc. bought a new position in Monmouth Real Estate Investment Corp. during the second quarter valued at $145,000. Finally, Eqis Capital Management Inc. boosted its position in Monmouth Real Estate Investment Corp. by 20.9% in the second quarter. Eqis Capital Management Inc. now owns 12,167 shares of the real estate investment trust’s stock valued at $161,000 after buying an additional 2,106 shares in the last quarter. 56.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) traded up 0.94% on Friday, hitting $13.99. 74,715 shares of the stock traded hands. The stock has a market cap of $947.21 million, a price-to-earnings ratio of 37.31 and a beta of 0.51. The stock has a 50 day moving average price of $13.45 and a 200-day moving average price of $13.36. Monmouth Real Estate Investment Corp. has a 52 week low of $9.50 and a 52 week high of $14.92.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Tuesday, November 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 4.62%. The ex-dividend date is Thursday, November 10th. Monmouth Real Estate Investment Corp.’s dividend payout ratio (DPR) is presently 168.43%.

Several research analysts have weighed in on MNR shares. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, August 10th. National Securities increased their price target on shares of Monmouth Real Estate Investment Corp. from $12.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, August 9th. Wunderlich increased their price target on shares of Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the company a “buy” rating in a report on Friday, August 5th. Finally, DA Davidson increased their price target on shares of Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, August 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Monmouth Real Estate Investment Corp. has an average rating of “Buy” and a consensus price target of $15.50.

In other news, Director Steven B. Wolgin purchased 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $212,500.00. Following the completion of the acquisition, the director now owns 8,500 shares in the company, valued at $212,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.61% of the company’s stock.

About Monmouth Real Estate Investment Corp.

Monmouth Real Estate Investment Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in ownership of real estate. Its investment focus is to own industrial buildings, leased primarily to investment-grade tenants on long-term net-leases. In addition, the Company owns a portfolio of REIT investment securities.

Want to see what other hedge funds are holding MNR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monmouth Real Estate Investment Corp. (NYSE:MNR).

Receive News & Ratings for Monmouth Real Estate Investment Corp. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Monmouth Real Estate Investment Corp. and related companies with MarketBeat.com’s FREE daily email newsletter.

Related posts

Leave a Comment