Monmouth Real Estate Investment Corporation (MNR) Holdings Trimmed by National Asset Management Inc.

National Asset Management Inc. cut its holdings in shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) by 0.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,237 shares of the real estate investment trust’s stock after selling 117 shares during the period. National Asset Management Inc.’s holdings in Monmouth Real Estate Investment Corporation were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MNR. Renaissance Technologies LLC lifted its holdings in Monmouth Real Estate Investment Corporation by 22.5% during the second quarter. Renaissance Technologies LLC now owns 1,674,797 shares of the real estate investment trust’s stock worth $25,206,000 after acquiring an additional 307,197 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Monmouth Real Estate Investment Corporation by 3.8% during the second quarter. Vanguard Group Inc. now owns 7,955,098 shares of the real estate investment trust’s stock worth $119,724,000 after acquiring an additional 287,857 shares in the last quarter. Eagle Asset Management Inc. bought a new position in Monmouth Real Estate Investment Corporation during the second quarter worth about $3,897,000. Monarch Partners Asset Management LLC bought a new position in Monmouth Real Estate Investment Corporation during the second quarter worth about $3,624,000. Finally, State Street Corp lifted its holdings in Monmouth Real Estate Investment Corporation by 17.1% during the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock worth $21,566,000 after acquiring an additional 220,934 shares in the last quarter. Hedge funds and other institutional investors own 60.56% of the company’s stock.

Several research firms have weighed in on MNR. Zacks Investment Research upgraded Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a report 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 report on Tuesday, July 11th. BidaskClub lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. National Securities reiterated a “buy” rating and set a $18.00 target price (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st. Finally, BMO Capital Markets began coverage on Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $17.00.

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In related news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were 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 approximately $14,329,070.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 1,414 shares of company stock worth $29,174. 5.31% of the stock is owned by insiders.

Shares of Monmouth Real Estate Investment Corporation (MNR) traded down 0.77% during mid-day trading on Tuesday, hitting $16.66. The stock had a trading volume of 15,350 shares. The firm’s 50 day moving average price is $16.26 and its 200 day moving average price is $15.29. Monmouth Real Estate Investment Corporation has a 1-year low of $12.91 and a 1-year high of $16.93. The company has a market cap of $1.16 billion, a P/E ratio of 53.74 and a beta of 0.50.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $28.61 million for the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter last year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. Analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a $0.17 dividend. This is a boost from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, November 14th. This represents a $0.68 annualized dividend and a yield of 4.05%. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is presently 213.33%.

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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