Monmouth Real Estate Investment Corp. (MNR) Hits New 1-Year High at $14.13
Shares of Monmouth Real Estate Investment Corp. (NYSE:MNR) hit a new 52-week high during trading on Tuesday . The stock traded as high as $14.13 and last traded at $14.03, with a volume of 145,011 shares changing hands. The stock had previously closed at $13.95.
Several analysts recently commented on MNR shares. Wunderlich upped their target price on Monmouth Real Estate Investment Corp. from $11.50 to $13.00 and gave the company a “buy” rating in a report on Friday, May 6th. Zacks Investment Research upgraded Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, May 11th. BMO Capital Markets reiterated a “buy” rating on shares of Monmouth Real Estate Investment Corp. in a report on Thursday, May 26th. Janney Montgomery Scott started coverage on Monmouth Real Estate Investment Corp. in a report on Tuesday, July 19th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, DA Davidson upped their target price on Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Monday, August 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.83.
The firm has a market cap of $953.30 million and a PE ratio of 37.55. The stock has a 50-day moving average price of $13.66 and a 200-day moving average price of $12.23.
Monmouth Real Estate Investment Corp. (NYSE:MNR) last announced its quarterly earnings data 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 had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $21.16 million. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 earnings per share. On average, equities analysts anticipate that Monmouth Real Estate Investment Corp. will post $0.33 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.59%.
In other news, insider Umh Properties, Inc. acquired 12,664 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The shares were bought at an average cost of $12.16 per share, with a total value of $153,994.24. Following the acquisition, the insider now owns 2,184,857 shares in the company, valued at approximately $26,567,861.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Monmouth Real Estate Investment Corp. stock. Schwab Charles Investment Management Inc. increased its position in Monmouth Real Estate Investment Corp. (NYSE:MNR) by 13.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 215,304 shares of the real estate investment trust’s stock after buying an additional 26,293 shares during the period. Schwab Charles Investment Management Inc. owned about 0.33% of Monmouth Real Estate Investment Corp. worth $2,253,000 at the end of the most recent quarter.
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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