Monmouth Real Estate Investment Corporation (NYSE:MNR) has earned a consensus recommendation of “Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $16.75.

A number of research analysts have recently issued reports on the company. Zacks Investment Research lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. BMO Capital Markets assumed coverage on Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They issued a “market perform” rating and a $16.50 target price on the stock. National Securities reissued a “buy” rating and issued a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st. BidaskClub lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, FBR & Co reissued an “outperform” rating and issued a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th.

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 EPS for the quarter, topping the consensus estimate of $0.17 by $0.04. The company had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.99%. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment Corporation’s payout ratio is presently 213.33%.

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In other news, Chairman Eugene W. Landy sold 32,500 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $16.27, for a total value of $528,775.00. Following the transaction, the chairman now owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders bought 1,602 shares of company stock worth $32,174. Corporate insiders own 5.31% of the company’s stock.

Several large investors have recently added to or reduced their stakes in MNR. UBS Asset Management Americas Inc. increased its holdings in shares of Monmouth Real Estate Investment Corporation by 26.5% in the first quarter. UBS Asset Management Americas Inc. now owns 125,589 shares of the real estate investment trust’s stock valued at $1,792,000 after purchasing an additional 26,278 shares during the period. Karp Capital Management Corp acquired a new position in Monmouth Real Estate Investment Corporation during the first quarter worth $287,000. Parametric Portfolio Associates LLC grew its holdings in Monmouth Real Estate Investment Corporation by 1.5% during the first quarter. Parametric Portfolio Associates LLC now owns 130,856 shares of the real estate investment trust’s stock worth $1,867,000 after acquiring an additional 1,946 shares during the period. Envestnet Asset Management Inc. grew its holdings in Monmouth Real Estate Investment Corporation by 8.0% during the first quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 559 shares during the period. Finally, SG Americas Securities LLC acquired a new position in Monmouth Real Estate Investment Corporation during the first quarter worth $125,000. 60.63% of the stock is currently owned by institutional investors and hedge funds.

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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