Trading Report: Today, Monmouth Real Estate Investment Corp. (MNR) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Today, Monmouth Real Estate Investment Corp. (MNR) Posts Quarterly  Earnings Results, Beats Estimates By $0.13 EPS

Monmouth Real Estate Investment Corp. (NYSE:MNR) issued its quarterly earnings data on Monday. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.13. Monmouth Real Estate Investment Corp. had a return on equity of 7.24% and a net margin of 30.94%. The firm earned $25.50 million during the quarter, compared to the consensus estimate of $10.15 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year.

Monmouth Real Estate Investment Corp. (NYSE:MNR) traded down 0.21% during midday trading on Monday, hitting $14.03. The stock had a trading volume of 199,735 shares. The company’s 50-day moving average price is $13.51 and its 200 day moving average price is $13.41. Monmouth Real Estate Investment Corp. has a 52 week low of $9.50 and a 52 week high of $14.92. The company has a market capitalization of $949.92 million, a PE ratio of 37.41 and a beta of 0.51.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Tuesday, November 15th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.56%. Monmouth Real Estate Investment Corp.’s payout ratio is currently 168.43%.

Several brokerages have issued reports on MNR. Zacks Investment Research upgraded Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, August 10th. Wunderlich lifted their price objective on Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the company a “buy” rating in a research report on Friday, August 5th. National Securities lifted their price objective on Monmouth Real Estate Investment Corp. from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, DA Davidson lifted their price objective on Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Monmouth Real Estate Investment Corp. currently has an average rating of “Buy” and an average price target of $15.50.

In related news, Director Steven B. Wolgin purchased 8,500 shares of Monmouth Real Estate Investment Corp. stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average price of $25.00 per share, with a total value of $212,500.00. Following the completion of the transaction, the director now directly owns 8,500 shares of the company’s stock, valued at approximately $212,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.61% of the company’s stock.

A number of large investors have recently modified their holdings of MNR. Dimensional Fund Advisors LP increased its stake in shares of Monmouth Real Estate Investment Corp. by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 744,405 shares of the real estate investment trust’s stock worth $9,871,000 after buying an additional 13,615 shares in the last quarter. BlackRock Advisors LLC increased its stake in shares of Monmouth Real Estate Investment Corp. by 5.0% in the second quarter. BlackRock Advisors LLC now owns 32,014 shares of the real estate investment trust’s stock worth $425,000 after buying an additional 1,521 shares in the last quarter. BlackRock Investment Management LLC increased its stake in shares of Monmouth Real Estate Investment Corp. by 6.7% in the second quarter. BlackRock Investment Management LLC now owns 272,544 shares of the real estate investment trust’s stock worth $3,614,000 after buying an additional 17,041 shares in the last quarter. BlackRock Inc. increased its stake in shares of Monmouth Real Estate Investment Corp. by 2,152.2% in the second quarter. BlackRock Inc. now owns 91,573 shares of the real estate investment trust’s stock worth $1,215,000 after buying an additional 87,507 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Monmouth Real Estate Investment Corp. by 2.7% in the second quarter. BlackRock Fund Advisors now owns 1,640,596 shares of the real estate investment trust’s stock worth $21,754,000 after buying an additional 43,118 shares in the last quarter. 59.19% of the stock is currently owned by institutional investors and hedge funds.

About Monmouth Real Estate Investment Corp.

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