Monmouth Real Estate Investment Corporation (MNR) Now Covered by BMO Capital Markets

BMO Capital Markets assumed coverage on shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) in a research note issued on Monday. The brokerage set a “market perform” rating and a $16.50 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 3.64% from the stock’s current price.

Several other research firms have also weighed in on MNR. Zacks Investment Research upgraded shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Wednesday, August 16th. FBR & Co reiterated an “outperform” rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a research note on Tuesday, July 11th. BidaskClub lowered shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. National Securities reiterated a “buy” rating and set a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research note on Monday, August 21st. Finally, DA Davidson upgraded shares of Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 18th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $16.80.

Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 15.92 on Monday. The company has a 50 day moving average of $15.54 and a 200-day moving average of $14.92. Monmouth Real Estate Investment Corporation has a 52-week low of $12.89 and a 52-week high of $16.43. The stock has a market capitalization of $1.18 billion, a P/E ratio of 53.60 and a beta of 0.50.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last released its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $28.61 million during the quarter, compared to analyst estimates of $28.81 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the business. Anchor Capital Advisors LLC increased its stake in Monmouth Real Estate Investment Corporation by 0.8% during the second quarter. Anchor Capital Advisors LLC now owns 22,800 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 190 shares during the last quarter. Honkamp Krueger Financial Services Inc. grew its position in shares of Monmouth Real Estate Investment Corporation by 0.6% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 49,035 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 305 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Monmouth Real Estate Investment Corporation by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock worth $1,168,000 after acquiring an additional 362 shares during the last quarter. Saratoga Research & Investment Management grew its position in shares of Monmouth Real Estate Investment Corporation by 1.6% during the second quarter. Saratoga Research & Investment Management now owns 29,120 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 465 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Monmouth Real Estate Investment Corporation by 0.3% during the first quarter. California Public Employees Retirement System now owns 148,100 shares of the real estate investment trust’s stock worth $2,113,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 60.58% of the company’s stock.

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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