Monmouth Real Estate Investment Corp. (NYSE:MNR) released its earnings results on Monday. The real estate investment trust reported $0.22 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. The company had revenue of $25.50 million for the quarter, compared to analysts’ expectations of $10.15 million. Monmouth Real Estate Investment Corp. had a return on equity of 7.24% and a net margin of 30.94%. The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS.

Shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) opened at 14.03 on Tuesday. The company has a market capitalization of $949.92 million, a PE ratio of 37.41 and a beta of 0.51. Monmouth Real Estate Investment Corp. has a 12 month low of $9.50 and a 12 month high of $14.92. The stock’s 50 day moving average price is $13.51 and its 200 day moving average price is $13.41.

Earnings History for Monmouth Real Estate Investment Corp. (NYSE:MNR)

The business also recently declared 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. This represents a $0.64 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Thursday, November 10th. Monmouth Real Estate Investment Corp.’s dividend payout ratio is presently 168.43%.

In related news, Director Steven B. Wolgin bought 8,500 shares of the business’s stock in a transaction dated Tuesday, September 13th. The shares were purchased at an average cost of $25.00 per share, with a total value of $212,500.00. Following the completion of the purchase, the director now owns 8,500 shares in the company, valued at approximately $212,500. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.61% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Rainier Investment Management LLC boosted its stake in Monmouth Real Estate Investment Corp. by 47.5% in the second quarter. Rainier Investment Management LLC now owns 799,740 shares of the real estate investment trust’s stock valued at $10,605,000 after buying an additional 257,550 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Monmouth Real Estate Investment Corp. during the second quarter valued at approximately $1,467,000. JPMorgan Chase & Co. boosted its stake in Monmouth Real Estate Investment Corp. by 197.0% in the second quarter. JPMorgan Chase & Co. now owns 93,711 shares of the real estate investment trust’s stock valued at $1,242,000 after buying an additional 62,154 shares during the period. Nationwide Fund Advisors boosted its stake in Monmouth Real Estate Investment Corp. by 1.5% in the second quarter. Nationwide Fund Advisors now owns 41,537 shares of the real estate investment trust’s stock valued at $551,000 after buying an additional 633 shares during the period. Finally, Insight Capital Research & Management Inc. acquired a new stake in Monmouth Real Estate Investment Corp. during the second quarter valued at approximately $507,000. 59.19% of the stock is currently owned by hedge funds and other institutional investors.

MNR has been the topic of a number of recent analyst reports. Wunderlich lifted their target price on Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the stock a “buy” rating in a research note on Friday, August 5th. DA Davidson boosted 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 note on Monday, August 8th. Zacks Investment Research upgraded Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, August 10th. Finally, National Securities boosted 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 note on Tuesday, August 9th. One investment 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’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $15.50.

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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.

5 Day Chart for NYSE:MNR

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