Monmouth Real Estate Investment Corp. (MNR) Hits New 52-Week High at $14.13
Monmouth Real Estate Investment Corp. (NYSE:MNR) hit a new 52-week high on Tuesday . The stock traded as high as $14.13 and last traded at $14.03, with a volume of 145,011 shares trading hands. The stock had previously closed at $13.95.
Several equities research analysts have recently weighed in on MNR shares. Wunderlich increased their target price on shares of Monmouth Real Estate Investment Corp. from $11.50 to $13.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Wednesday, May 11th. BMO Capital Markets reaffirmed a “buy” rating on shares of Monmouth Real Estate Investment Corp. in a research note on Thursday, May 26th. Janney Montgomery Scott started coverage on shares of Monmouth Real Estate Investment Corp. in a research note on Tuesday, July 19th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, DA Davidson raised their price target on shares of Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $15.50.
The stock has a 50-day moving average of $13.69 and a 200 day moving average of $12.27. The firm has a market cap of $946.53 million and a P/E ratio of 37.28.
Monmouth Real Estate Investment Corp. (NYSE:MNR) last announced its earnings results on Thursday, August 4th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.10. During the same period last year, the firm earned $0.15 EPS. The business had revenue of $24.10 million for the quarter, compared to analyst estimates of $21.16 million. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts anticipate that Monmouth Real Estate Investment Corp. will post $0.33 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $0.64 annualized dividend and a yield of 4.58%.
In other Monmouth Real Estate Investment Corp. news, insider Umh Properties, Inc. bought 12,664 shares of the stock in a transaction on Wednesday, June 15th. The shares were bought at an average price of $12.16 per share, with a total value of $153,994.24. Following the purchase, the insider now directly owns 2,184,857 shares in the company, valued at approximately $26,567,861.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
An institutional investor recently raised its position in Monmouth Real Estate Investment Corp. stock. Schwab Charles Investment Management Inc. raised its stake 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 fund 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 as of its most recent filing with the SEC.
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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