Monmouth Real Estate Investment Corporation (NYSE:MNR) has been assigned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $16.75.

Several brokerages have recently issued reports on MNR. Zacks Investment Research lowered shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. BMO Capital Markets began coverage on shares of Monmouth Real Estate Investment Corporation in a research note on Monday, September 11th. They issued a “market perform” rating and a $16.50 target price on the stock. National Securities reaffirmed a “buy” rating and issued a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research note on Monday, August 21st. BidaskClub raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, FBR & Co reissued an “outperform” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research note on Tuesday, July 11th.

In related news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.27, for a total transaction of $528,775.00. Following the transaction, the chairman now owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 2,131 shares of company stock worth $39,703 in the last three months. 5.31% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Anchor Capital Advisors LLC raised its holdings in Monmouth Real Estate Investment Corporation by 0.8% during the 2nd quarter. Anchor Capital Advisors LLC now owns 22,800 shares of the real estate investment trust’s stock worth $343,000 after buying an additional 190 shares during the period. Honkamp Krueger Financial Services Inc. raised its holdings in Monmouth Real Estate Investment Corporation by 0.6% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 49,035 shares of the real estate investment trust’s stock worth $738,000 after buying an additional 305 shares during the period. Raymond James Financial Services Advisors Inc. raised its holdings in Monmouth Real Estate Investment Corporation by 0.5% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 362 shares during the period. Saratoga Research & Investment Management raised its holdings in Monmouth Real Estate Investment Corporation by 1.6% during the 2nd quarter. Saratoga Research & Investment Management now owns 29,120 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 465 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Monmouth Real Estate Investment Corporation by 0.3% during the 1st quarter. California Public Employees Retirement System now owns 148,100 shares of the real estate investment trust’s stock worth $2,113,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 60.58% of the company’s stock.

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Monmouth Real Estate Investment Corporation (MNR) traded down 1.29% during mid-day trading on Wednesday, hitting $16.09. 815,686 shares of the company were exchanged. Monmouth Real Estate Investment Corporation has a 12-month low of $12.89 and a 12-month high of $16.43. The stock has a market cap of $1.20 billion, a P/E ratio of 54.18 and a beta of 0.50. The company has a 50 day moving average of $15.61 and a 200 day moving average of $14.96.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. On average, equities research analysts expect that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Tuesday, August 15th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 3.98%. The ex-dividend date was Friday, August 11th. Monmouth Real Estate Investment Corporation’s payout ratio is 213.33%.

About Monmouth Real Estate Investment Corporation

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

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