Zacks Investment Research lowered shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) from a buy rating to a hold rating in a report published 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. “

A number of other research analysts have also issued reports on the stock. BMO Capital Markets initiated coverage on shares of Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They issued a market perform rating and a $16.50 price objective for the company. FBR & Co reiterated an outperform rating and issued a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. BidaskClub upgraded shares of Monmouth Real Estate Investment Corporation from a hold rating to a buy rating in a report on Friday, June 30th. Finally, National Securities reiterated a buy rating and issued a $18.00 price objective (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Monmouth Real Estate Investment Corporation has an average rating of Buy and an average price target of $17.00.

Shares of Monmouth Real Estate Investment Corporation (MNR) opened at 16.92 on Wednesday. The company’s 50 day moving average is $16.38 and its 200-day moving average is $15.37. Monmouth Real Estate Investment Corporation has a 1-year low of $12.91 and a 1-year high of $16.98. The company has a market capitalization of $1.26 billion, a P/E ratio of 56.97 and a beta of 0.50.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. The business had revenue of $28.61 million during 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 firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter last year, the business earned $0.19 EPS. On average, equities research analysts forecast that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.17 per share. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.02%. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is presently 213.33%.

In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s 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 completion of the transaction, the chairman now owns 880,705 shares in the company, valued at approximately $14,329,070.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 1,602 shares of company stock valued at $32,174. Company insiders own 5.31% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MNR. Envestnet Asset Management Inc. raised its holdings in Monmouth Real Estate Investment Corporation by 8.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 559 shares during the last quarter. SG Americas Securities LLC bought a new position in Monmouth Real Estate Investment Corporation during the 1st quarter worth approximately $125,000. QS Investors LLC raised its holdings in Monmouth Real Estate Investment Corporation by 6.8% during the 2nd quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 720 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new position in Monmouth Real Estate Investment Corporation during the 2nd quarter worth approximately $173,000. Finally, Pekin Singer Strauss Asset Management IL raised its holdings in Monmouth Real Estate Investment Corporation by 5.4% during the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 11,650 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 595 shares during the last quarter. Hedge funds and other institutional investors own 60.56% of the company’s stock.

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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