Zacks Investment Research downgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a buy rating to a hold rating in a research note published on Thursday, Zacks.com reports.

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 several other reports. B. Riley reissued a buy rating and set a $17.00 price objective on shares of Monmouth R.E. Inv. in a report on Wednesday, November 27th. JPMorgan Chase & Co. lowered shares of Monmouth R.E. Inv. from a neutral rating to an underweight rating and set a $15.00 price objective on the stock. in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $16.00.

MNR stock traded up $0.03 during trading on Thursday, hitting $15.01. 268,757 shares of the company’s stock traded hands, compared to its average volume of 454,024. The firm has a market capitalization of $1.46 billion, a P/E ratio of 29.51 and a beta of 0.64. The business has a fifty day simple moving average of $14.67 and a two-hundred day simple moving average of $14.39. The company has a quick ratio of 8.86, a current ratio of 8.86 and a debt-to-equity ratio of 1.30. Monmouth R.E. Inv. has a 1 year low of $12.76 and a 1 year high of $15.53.

Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings data on Monday, November 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.02. The company had revenue of $40.60 million for the quarter, compared to analyst estimates of $40.22 million. Monmouth R.E. Inv. had a net margin of 38.88% and a return on equity of 9.58%. On average, equities research analysts predict that Monmouth R.E. Inv. will post 0.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Tuesday, February 18th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 4.53%. The ex-dividend date is Friday, February 14th. Monmouth R.E. Inv.’s dividend payout ratio is currently 80.00%.

In other Monmouth R.E. Inv. news, Director Steven B. Wolgin sold 4,812 shares of Monmouth R.E. Inv. stock in a transaction on Friday, December 27th. The shares were sold at an average price of $25.01, for a total value of $120,348.12. Following the transaction, the director now directly owns 69,624 shares of the company’s stock, valued at $1,741,296.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Umh Properties, Inc. purchased 17,195 shares of the business’s stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $14.86 per share, for a total transaction of $255,517.70. The disclosure for this purchase can be found here. Insiders acquired 18,817 shares of company stock worth $278,924 over the last ninety days. Corporate insiders own 4.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNR. Renaissance Technologies LLC lifted its stake in shares of Monmouth R.E. Inv. by 6.8% during the fourth quarter. Renaissance Technologies LLC now owns 3,168,700 shares of the real estate investment trust’s stock worth $45,883,000 after buying an additional 200,434 shares during the period. FMR LLC lifted its stake in shares of Monmouth R.E. Inv. by 132,971,100.0% during the first quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock worth $17,526,000 after buying an additional 1,329,711 shares during the period. Granite Investment Partners LLC lifted its stake in shares of Monmouth R.E. Inv. by 1.9% during the fourth quarter. Granite Investment Partners LLC now owns 1,109,802 shares of the real estate investment trust’s stock worth $16,070,000 after buying an additional 20,829 shares during the period. Raymond James & Associates lifted its stake in shares of Monmouth R.E. Inv. by 7.5% during the fourth quarter. Raymond James & Associates now owns 1,030,480 shares of the real estate investment trust’s stock worth $14,921,000 after buying an additional 72,326 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Monmouth R.E. Inv. by 40,540.9% during the third quarter. Millennium Management LLC now owns 1,016,022 shares of the real estate investment trust’s stock worth $14,640,000 after buying an additional 1,013,522 shares during the period. 67.07% of the stock is currently owned by institutional investors and hedge funds.

About Monmouth R.E. Inv.

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 113 properties containing a total of approximately 21.8 million rentable square feet, geographically diversified across 30 states.

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