Monmouth Real Estate Investment Corporation (MNR) Lowered to Hold at Zacks Investment Research

Monmouth Real Estate Investment Corporation (NYSE:MNR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

Several other brokerages also recently issued reports on MNR. BMO Capital Markets assumed coverage on Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They issued a “market perform” rating and a $16.50 price objective for the company. BidaskClub downgraded Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. National Securities reiterated a “buy” rating and issued a $18.00 price objective (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Finally, FBR & Co reiterated an “outperform” rating and issued a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $17.00.

Monmouth Real Estate Investment Corporation (NYSE MNR) opened at 16.81 on Wednesday. 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 $1.18 billion, a PE ratio of 54.23 and a beta of 0.50. The stock has a 50 day moving average price of $16.26 and a 200 day moving average price of $15.29.

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

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In other news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction 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 completion of the sale, the chairman now directly 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 can be accessed through this link. Insiders bought a total of 1,602 shares of company stock valued at $32,174 over the last three months. Insiders own 5.31% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of Monmouth Real Estate Investment Corporation by 8.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 559 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Monmouth Real Estate Investment Corporation in the 1st quarter valued at $125,000. QS Investors LLC increased its stake in shares of Monmouth Real Estate Investment Corporation by 6.8% in the 2nd quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock valued at $171,000 after buying an additional 720 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Monmouth Real Estate Investment Corporation in the 2nd quarter valued at $173,000. Finally, Pekin Singer Strauss Asset Management IL increased its stake in shares of Monmouth Real Estate Investment Corporation by 5.4% in the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 11,650 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 595 shares during the period. 60.56% of the stock is owned by institutional investors.

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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