BMO Capital Markets began coverage on shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) in a research report sent to investors on Monday, Marketbeat Ratings reports. The firm issued a market perform rating and a $16.50 price objective on the real estate investment trust’s stock.

Several other equities analysts have also recently weighed in on the stock. National Securities reaffirmed a buy rating and issued a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Zacks Investment Research cut shares of Monmouth Real Estate Investment Corporation from a buy rating to a hold rating in a research report on Friday, August 18th. BidaskClub cut shares of Monmouth Real Estate Investment Corporation from a buy rating to a hold rating in a research report on Thursday, July 27th. FBR & Co reissued an outperform rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Finally, DA Davidson raised shares of Monmouth Real Estate Investment Corporation from a neutral rating to a buy rating and set a $16.00 target price on the stock in a research report on Thursday, May 18th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $16.80.

Shares of Monmouth Real Estate Investment Corporation (MNR) opened at 16.18 on Monday. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 54.48 and a beta of 0.50. The company’s 50-day moving average price is $15.56 and its 200 day moving average price is $14.93. Monmouth Real Estate Investment Corporation has a 12-month low of $12.89 and a 12-month high of $16.43.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The company had revenue of $28.61 million during the quarter, compared to the consensus estimate of $28.81 million. During the same period last year, the business posted $0.19 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be issued a $0.16 dividend. The ex-dividend date is Friday, August 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.96%. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is presently 213.33%.

In related news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.27, for a total value of $528,775.00. Following the sale, the chairman now owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 2,131 shares of company stock worth $39,703 in the last ninety days. 5.31% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Monmouth Real Estate Investment Corporation by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock valued at $119,724,000 after buying an additional 287,857 shares in the last quarter. BlackRock Inc. grew its stake in Monmouth Real Estate Investment Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock valued at $90,823,000 after buying an additional 16,118 shares in the last quarter. Boulegeris Investments Inc. grew its stake in Monmouth Real Estate Investment Corporation by 1.6% in the 2nd quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock valued at $36,063,000 after buying an additional 38,494 shares in the last quarter. Renaissance Technologies LLC grew its stake in Monmouth Real Estate Investment Corporation by 22.5% in the 2nd quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock valued at $25,206,000 after buying an additional 307,197 shares in the last quarter. Finally, State Street Corp grew its stake in Monmouth Real Estate Investment Corporation by 7.1% in the 2nd quarter. State Street Corp now owns 1,618,598 shares of the real estate investment trust’s stock valued at $24,360,000 after buying an additional 107,580 shares in the last quarter. 60.58% of the stock is currently owned by institutional investors.

About Monmouth Real Estate Investment Corporation

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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