Monmouth Real Estate Investment Corporation (MNR) Releases Earnings Results, Beats Estimates By $0.04 EPS

Monmouth Real Estate Investment Corporation (NYSE:MNR) issued its earnings results on Wednesday. The real estate investment trust reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04, Bloomberg Earnings reports. The business 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 34.30% and a return on equity of 8.40%. The company’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $0.19 earnings per share.

Monmouth Real Estate Investment Corporation (NYSE MNR) traded down 0.53% during trading on Wednesday, hitting $15.14. 120,351 shares of the stock were exchanged. The stock’s 50 day moving average price is $15.23 and its 200 day moving average price is $14.76. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $15.67. The stock has a market cap of $1.10 billion, a P/E ratio of 47.91 and a beta of 0.51.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.23%. Monmouth Real Estate Investment Corporation’s dividend payout ratio is presently 200.01%.

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Monmouth Real Estate Investment Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 7,667,241 shares of the real estate investment trust’s stock valued at $109,412,000 after buying an additional 257,768 shares during the last quarter. Boulegeris Investments Inc. increased its stake in shares of Monmouth Real Estate Investment Corporation by 1.6% in the second quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock worth $36,063,000 after buying an additional 38,494 shares in the last quarter. State Street Corp increased its stake in shares of Monmouth Real Estate Investment Corporation by 17.1% in the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock worth $21,566,000 after buying an additional 220,934 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Monmouth Real Estate Investment Corporation by 14.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,600 shares of the real estate investment trust’s stock worth $19,516,000 after buying an additional 171,100 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Monmouth Real Estate Investment Corporation by 6.6% in the second quarter. Principal Financial Group Inc. now owns 966,089 shares of the real estate investment trust’s stock worth $14,539,000 after buying an additional 59,438 shares in the last quarter. 59.80% of the stock is currently owned by hedge funds and other institutional investors.

MNR has been the topic of a number of research reports. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, April 12th. National Securities reiterated a “buy” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research note on Thursday, May 4th. FBR & Co reiterated 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. BidaskClub upgraded shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Finally, DA Davidson upgraded shares of Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, May 18th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $16.00.

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Monmouth Real Estate Investment Corporation Company Profile

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.

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

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