Ridgewood Investments LLC lowered its stake in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 101,362 shares of the real estate investment trust’s stock after selling 592 shares during the period. Monmouth Real Estate Investment Corporation comprises 1.5% of Ridgewood Investments LLC’s investment portfolio, making the stock its 10th largest position. Ridgewood Investments LLC’s holdings in Monmouth Real Estate Investment Corporation were worth $1,525,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IndexIQ Advisors LLC boosted its position in Monmouth Real Estate Investment Corporation by 14.4% in the first quarter. IndexIQ Advisors LLC now owns 70,994 shares of the real estate investment trust’s stock valued at $1,013,000 after buying an additional 8,941 shares during the period. Albert D Mason Inc. boosted its position in Monmouth Real Estate Investment Corporation by 0.3% in the first quarter. Albert D Mason Inc. now owns 158,778 shares of the real estate investment trust’s stock valued at $2,266,000 after buying an additional 535 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Monmouth Real Estate Investment Corporation by 4.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 67,100 shares of the real estate investment trust’s stock valued at $958,000 after buying an additional 2,596 shares during the period. Eqis Capital Management Inc. boosted its position in Monmouth Real Estate Investment Corporation by 28.3% in the first quarter. Eqis Capital Management Inc. now owns 30,895 shares of the real estate investment trust’s stock valued at $441,000 after buying an additional 6,824 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Monmouth Real Estate Investment Corporation by 15.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,715 shares of the real estate investment trust’s stock valued at $167,000 after buying an additional 1,600 shares during the period. Institutional investors own 59.80% of the company’s stock.

Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 14.80 on Friday. The stock’s 50 day moving average is $15.26 and its 200 day moving average is $14.76. The stock has a market cap of $1.10 billion, a P/E ratio of 49.83 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $15.67.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last released its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The business had revenue of $28.61 million during the quarter, compared to the consensus estimate of $28.81 million. During the same quarter last year, the company earned $0.19 earnings per share. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. Analysts predict that Monmouth Real Estate Investment Corporation will post $0.35 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date of this dividend is Friday, August 11th. Monmouth Real Estate Investment Corporation’s payout ratio is currently 213.33%.

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Several research firms have commented on MNR. BidaskClub cut shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. FBR & Co reiterated an “outperform” rating and set a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. Zacks Investment Research upgraded shares of Monmouth Real Estate Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. National Securities reiterated a “buy” rating and set a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, May 4th. Finally, DA Davidson upgraded shares of Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Thursday, May 18th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $16.00.

Monmouth Real Estate Investment Corporation Company Profile

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

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Institutional Ownership by Quarter for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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