Oppenheimer Asset Management Inc. raised its holdings in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,147 shares of the real estate investment trust’s stock after purchasing an additional 5,267 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Monmouth R.E. Inv. were worth $503,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Great West Life Assurance Co. Can boosted its stake in shares of Monmouth R.E. Inv. by 35.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 16,975 shares of the real estate investment trust’s stock worth $203,000 after acquiring an additional 4,472 shares during the last quarter. Vanguard Group Inc lifted its position in Monmouth R.E. Inv. by 2.8% during the third quarter. Vanguard Group Inc now owns 7,951,515 shares of the real estate investment trust’s stock worth $132,950,000 after buying an additional 214,442 shares in the last quarter. Addison Capital Co purchased a new position in Monmouth R.E. Inv. during the fourth quarter worth approximately $310,000. Wedbush Securities Inc. lifted its position in Monmouth R.E. Inv. by 56.6% during the first quarter. Wedbush Securities Inc. now owns 47,656 shares of the real estate investment trust’s stock worth $628,000 after buying an additional 17,231 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Monmouth R.E. Inv. by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,049,480 shares of the real estate investment trust’s stock worth $17,547,000 after buying an additional 3,793 shares in the last quarter. 68.55% of the stock is currently owned by institutional investors.
MNR has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Royal Bank of Canada initiated coverage on Monmouth R.E. Inv. in a research report on Friday, March 29th. They issued a “sector perform” rating and a $14.00 target price on the stock. JPMorgan Chase & Co. started coverage on Monmouth R.E. Inv. in a research report on Friday, March 8th. They issued a “neutral” rating and a $14.00 target price on the stock. Finally, Boenning Scattergood set a $18.00 price objective on Monmouth R.E. Inv. and gave the company a “buy” rating in a report on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.30.
Shares of MNR stock traded down $0.11 on Wednesday, hitting $13.91. The stock had a trading volume of 347,500 shares, compared to its average volume of 498,068. Monmouth R.E. Inv. Corp. has a 1 year low of $11.88 and a 1 year high of $17.51. The company has a market capitalization of $1.34 billion, a PE ratio of 15.99, a P/E/G ratio of 2.25 and a beta of 0.79. The company has a current ratio of 10.71, a quick ratio of 10.71 and a debt-to-equity ratio of 1.37.
Monmouth R.E. Inv. (NYSE:MNR) last released its earnings results on Thursday, May 9th. The real estate investment trust reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.03. Monmouth R.E. Inv. had a return on equity of 2.99% and a net margin of 15.10%. The firm had revenue of $39.31 million during the quarter, compared to analysts’ expectations of $40.31 million. Research analysts predict that Monmouth R.E. Inv. Corp. will post 0.91 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be paid a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.68 annualized dividend and a yield of 4.89%. Monmouth R.E. Inv.’s payout ratio is 78.16%.
In other Monmouth R.E. Inv. news, insider Umh Properties, Inc. acquired 19,365 shares of the stock in a transaction dated Friday, March 15th. The stock was acquired at an average cost of $12.60 per share, with a total value of $243,999.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Eugene W. Landy sold 8,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $13.95, for a total value of $111,600.00. Following the completion of the sale, the chairman now directly owns 894,735 shares of the company’s stock, valued at $12,481,553.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 22,709 shares of company stock valued at $287,691 and have sold 17,000 shares valued at $241,600. Corporate insiders own 4.02% of the company’s stock.
Monmouth R.E. Inv. Profile
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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