Janney Montgomery Scott LLC purchased a new stake in Monmouth Real Estate Investment Corp. (NYSE:MNR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,941 shares of the real estate investment trust’s stock, valued at approximately $125,000.

Several other hedge funds also recently added to or reduced their stakes in MNR. Boulegeris Investments Inc. increased its stake in Monmouth Real Estate Investment Corp. by 2.8% in the second quarter. Boulegeris Investments Inc. now owns 2,243,831 shares of the real estate investment trust’s stock valued at $29,753,000 after buying an additional 61,346 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Monmouth Real Estate Investment Corp. by 2.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,243,643 shares of the real estate investment trust’s stock valued at $26,677,000 after buying an additional 59,591 shares during the period. State Street Corp increased its stake in Monmouth Real Estate Investment Corp. by 5.4% in the first quarter. State Street Corp now owns 965,684 shares of the real estate investment trust’s stock valued at $11,481,000 after buying an additional 49,374 shares during the period. Bank of New York Mellon Corp increased its stake in Monmouth Real Estate Investment Corp. by 100.2% in the second quarter. Bank of New York Mellon Corp now owns 779,468 shares of the real estate investment trust’s stock valued at $10,336,000 after buying an additional 390,163 shares during the period. Finally, Geode Capital Management LLC increased its stake in Monmouth Real Estate Investment Corp. by 7.8% in the first quarter. Geode Capital Management LLC now owns 457,261 shares of the real estate investment trust’s stock valued at $5,436,000 after buying an additional 33,245 shares during the period. Institutional investors own 53.70% of the company’s stock.

Monmouth Real Estate Investment Corp. (NYSE:MNR) traded up 3.20% during trading on Thursday, reaching $14.51. The company’s stock had a trading volume of 333,125 shares. The stock has a market cap of $982.41 million, a P/E ratio of 38.69 and a beta of 0.48. The firm’s 50-day moving average is $13.98 and its 200-day moving average is $12.71. Monmouth Real Estate Investment Corp. has a 52-week low of $9.37 and a 52-week high of $14.92.

Monmouth Real Estate Investment Corp. (NYSE:MNR) last released its earnings results on Thursday, August 4th. The real estate investment trust reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.10. The business had revenue of $24.10 million for the quarter, compared to the consensus estimate of $21.16 million. Monmouth Real Estate Investment Corp. had a return on equity of 7.24% and a net margin of 30.94%. Monmouth Real Estate Investment Corp.’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.15 earnings per share. Equities research analysts forecast that Monmouth Real Estate Investment Corp. will post $0.32 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Monday, August 15th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Thursday, August 11th. Monmouth Real Estate Investment Corp.’s payout ratio is currently 168.43%.

MNR has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “buy” rating on shares of Monmouth Real Estate Investment Corp. in a research note on Thursday, May 26th. Zacks Investment Research downgraded Monmouth Real Estate Investment Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Wunderlich increased their target price on Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the company a “buy” rating in a research note on Friday, August 5th. Janney Montgomery Scott assumed coverage on Monmouth Real Estate Investment Corp. in a research note on Tuesday, July 19th. They set a “buy” rating and a $15.00 target price for the company. Finally, DA Davidson increased their target price on Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company 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 given a buy rating to the company. Monmouth Real Estate Investment Corp. currently has an average rating of “Buy” and an average target price of $15.50.

In other news, Director Steven B. Wolgin acquired 8,500 shares of Monmouth Real Estate Investment Corp. stock in a transaction dated Tuesday, September 13th. The stock was bought at an average price of $25.00 per share, for a total transaction of $212,500.00. Following the completion of the acquisition, the director now directly owns 8,500 shares in the company, valued at approximately $212,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 5.61% of the company’s stock.

Monmouth Real Estate Investment Corp. Company Profile

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.

5 Day Chart for NYSE:MNR

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