Monmouth Real Estate Investment Corp. (MNR) Sees Strong Trading Volume
Monmouth Real Estate Investment Corp. (NYSE:MNR) saw unusually-strong trading volume on Monday . Approximately 739,100 shares were traded during mid-day trading, an increase of 97% from the previous session’s volume of 374,436 shares.The stock last traded at $14.50 and had previously closed at $14.08.
A number of equities analysts have issued reports on MNR shares. Janney Montgomery Scott started coverage on shares of Monmouth Real Estate Investment Corp. in a research report on Tuesday, July 19th. They issued a “buy” rating and a $15.00 price objective on the stock. Zacks Investment Research upgraded shares of Monmouth Real Estate Investment Corp. from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Wednesday, May 11th. DA Davidson boosted their price objective on shares of Monmouth Real Estate Investment Corp. from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, August 8th. National Securities boosted their price objective on shares of Monmouth Real Estate Investment Corp. from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Wunderlich boosted their price objective on shares of Monmouth Real Estate Investment Corp. from $13.00 to $15.50 and gave the company a “buy” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Monmouth Real Estate Investment Corp. presently has a consensus rating of “Buy” and an average target price of $15.50.
The stock’s 50-day moving average is $13.80 and its 200 day moving average is $12.40. The company has a market cap of $981.74 million and a P/E ratio of 38.67.
Monmouth Real Estate Investment Corp. (NYSE:MNR) last posted its earnings results on Thursday, August 4th. The real estate investment trust reported $0.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.10. The company had revenue of $24.10 million for the quarter, compared to analysts’ expectations of $21.16 million. The business’s revenue was up 16.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 earnings per share. On average, equities analysts forecast that Monmouth Real Estate Investment Corp. will post $0.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Monday, August 15th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, August 11th. This represents a $0.64 annualized dividend and a yield of 4.41%.
In other Monmouth Real Estate Investment Corp. news, insider Umh Properties, Inc. acquired 12,664 shares of the stock in a transaction on Wednesday, June 15th. The stock was acquired at an average price of $12.16 per share, for a total transaction of $153,994.24. Following the completion of the transaction, the insider now directly owns 2,184,857 shares of the company’s stock, valued at $26,567,861.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
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.