Great West Life Assurance Co. Can Continues to Hold Holdings in Monmouth Real Estate Investment Corporation (MNR)

Great West Life Assurance Co. Can maintained its stake in Monmouth Real Estate Investment Corporation (NYSE:MNR) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,000 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Great West Life Assurance Co. Can’s holdings in Monmouth Real Estate Investment Corporation were worth $150,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MNR. Vanguard Group Inc. raised its position in Monmouth Real Estate Investment Corporation by 3.5% during 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 purchasing an additional 257,768 shares during the period. State Street Corp raised its position in Monmouth Real Estate Investment Corporation by 17.1% during the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock valued at $21,566,000 after purchasing an additional 220,934 shares during the period. Asset Management One Co. Ltd. raised its position in Monmouth Real Estate Investment Corporation by 87.2% during the first quarter. Asset Management One Co. Ltd. now owns 425,420 shares of the real estate investment trust’s stock valued at $6,009,000 after purchasing an additional 198,116 shares during the period. Renaissance Technologies LLC raised its position in Monmouth Real Estate Investment Corporation by 14.3% during the first quarter. Renaissance Technologies LLC now owns 1,367,600 shares of the real estate investment trust’s stock valued at $19,516,000 after purchasing an additional 171,100 shares during the period. Finally, Principal Financial Group Inc. raised its position in Monmouth Real Estate Investment Corporation by 14.5% during the first quarter. Principal Financial Group Inc. now owns 906,651 shares of the real estate investment trust’s stock valued at $12,937,000 after purchasing an additional 115,109 shares during the period. Institutional investors and hedge funds own 60.58% of the company’s stock.

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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 value of $528,775.00. Following the transaction, the chairman now directly owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 2,131 shares of company stock worth $39,703 over the last three months. Corporate insiders own 5.31% of the company’s stock.

Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 16.09 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 54.18 and a beta of 0.50. The firm’s 50-day moving average price is $15.61 and its 200-day moving average price is $14.96. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $16.43.

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

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, August 15th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Friday, August 11th. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is 213.33%.

A number of equities research analysts have issued reports on MNR shares. Zacks Investment Research upgraded Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, August 16th. FBR & Co restated an “outperform” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. BidaskClub upgraded Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. National Securities restated a “buy” rating and set a $18.00 price objective (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Finally, BMO Capital Markets started coverage on Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.80.

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.

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Institutional Ownership by Quarter for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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