Monmouth Real Estate Investment Corp. (NYSE:MNR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

MNR has been the topic of a number of other research reports. National Securities lifted their price objective on shares of Monmouth Real Estate Investment Corp. from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. DA Davidson lifted their price objective on shares of Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, August 8th. Janney Montgomery Scott assumed coverage on shares of Monmouth Real Estate Investment Corp. in a research note on Tuesday, July 19th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, Wunderlich lifted their price objective on shares of Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the company a “buy” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Monmouth Real Estate Investment Corp. currently has an average rating of “Buy” and an average price target of $15.50.

Analyst Recommendations for Monmouth Real Estate Investment Corp. (NYSE:MNR)

Shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) opened at 13.64 on Wednesday. Monmouth Real Estate Investment Corp. has a 52 week low of $9.50 and a 52 week high of $14.92. The firm has a market cap of $923.51 million, a PE ratio of 36.37 and a beta of 0.48. The company’s 50-day moving average is $14.11 and its 200-day moving average is $12.92.

Monmouth Real Estate Investment Corp. (NYSE:MNR) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The firm had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $21.16 million. Monmouth Real Estate Investment Corp. had a net margin of 30.94% and a return on equity of 7.24%. Monmouth Real Estate Investment Corp.’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. Analysts forecast that Monmouth Real Estate Investment Corp. will post $0.32 EPS for the current fiscal year.

In related news, Director Steven B. Wolgin purchased 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $212,500.00. Following the completion of the purchase, the director now owns 8,500 shares in the company, valued at $212,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 5.61% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Monmouth Real Estate Investment Corp. by 8.6% in the second quarter. Vanguard Group Inc. now owns 7,324,264 shares of the real estate investment trust’s stock worth $97,120,000 after buying an additional 581,886 shares during the period. Allianz Asset Management AG raised its stake in shares of Monmouth Real Estate Investment Corp. by 2.0% in the second quarter. Allianz Asset Management AG now owns 2,956,436 shares of the real estate investment trust’s stock worth $39,202,000 after buying an additional 58,648 shares during the period. Boulegeris Investments Inc. raised its stake in shares of Monmouth Real Estate Investment Corp. by 2.8% in the second quarter. Boulegeris Investments Inc. now owns 2,243,831 shares of the real estate investment trust’s stock worth $29,753,000 after buying an additional 61,346 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Monmouth Real Estate Investment Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,243,643 shares of the real estate investment trust’s stock worth $26,677,000 after buying an additional 59,591 shares during the period. Finally, BlackRock Fund Advisors raised 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 during the period. Institutional investors and hedge funds own 53.70% of the company’s stock.

Monmouth Real Estate Investment Corp. Company Profile

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.

5 Day Chart for NYSE:MNR

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