Monmouth Real Estate Investment Corp. (MNR) Sees Strong Trading Volume
Monmouth Real Estate Investment Corp. (NYSE:MNR) saw strong trading volume on Friday . 241,511 shares were traded during trading, a decline of 9% from the previous session’s volume of 266,804 shares.The stock last traded at $13.77 and had previously closed at $13.70.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, August 10th. National Securities upped their price target on Monmouth Real Estate Investment Corp. from $12.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. DA Davidson upped their price target on Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Wunderlich upped their price objective on Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, Janney Montgomery Scott started coverage on Monmouth Real Estate Investment Corp. in a research report on Tuesday, July 19th. They set a “buy” rating and a $15.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Monmouth Real Estate Investment Corp. has a consensus rating of “Buy” and a consensus price target of $14.83.
The stock’s 50 day moving average price is $13.64 and its 200 day moving average price is $12.17. The stock has a market capitalization of $935.02 million and a PE ratio of 36.83.
Monmouth Real Estate Investment Corp. (NYSE:MNR) last issued its earnings results on Thursday, August 4th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.10. The firm earned $24.10 million during the quarter, compared to analyst estimates of $21.16 million. During the same quarter in the previous year, the business posted $0.15 EPS. Monmouth Real Estate Investment Corp.’s revenue was up 16.4% compared to the same quarter last year. Equities analysts anticipate that Monmouth Real Estate Investment Corp. will post $0.33 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date is Thursday, August 11th.
In other news, insider Umh Properties, Inc. bought 12,664 shares of Monmouth Real Estate Investment Corp. stock in a transaction that occurred on Wednesday, June 15th. The shares were purchased at an average price of $12.16 per share, for a total transaction of $153,994.24. Following the completion of the acquisition, the insider now owns 2,184,857 shares of the company’s stock, valued at $26,567,861.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in Monmouth Real Estate Investment Corp. stock. Dimensional Fund Advisors LP boosted its position in shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) by 9.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 699,927 shares of the real estate investment trust’s stock after buying an additional 62,041 shares during the period. Dimensional Fund Advisors LP owned 1.09% of Monmouth Real Estate Investment Corp. worth $7,321,000 as of its most recent SEC filing.
Monmouth Real Estate Investment Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company is engaged in ownership of real estate. Its investment focus is to own industrial buildings, leased primarily to investment-grade tenants on long-term net-leases. In addition, the Company owns a portfolio of REIT investment securities.
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