Brokerages expect Monmouth R.E. Inv. Corp. (NYSE:MNR) to report earnings per share (EPS) of $0.25 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Monmouth R.E. Inv.’s earnings, with estimates ranging from $0.24 to $0.26. Monmouth R.E. Inv. posted earnings per share of $0.21 during the same quarter last year, which suggests a positive year over year growth rate of 19%. The business is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, November 28th.
On average, analysts expect that Monmouth R.E. Inv. will report full year earnings of $0.91 per share for the current year, with EPS estimates ranging from $0.89 to $0.92. For the next year, analysts forecast that the company will report earnings of $1.00 per share, with EPS estimates ranging from $0.97 to $1.05. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Monmouth R.E. Inv..
A number of research analysts have commented on the company. Zacks Investment Research downgraded Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a report on Thursday. ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. B. Riley raised Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and cut their price target for the stock from $17.50 to $17.00 in a report on Tuesday, October 9th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $19.00 price target on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $18.60.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Monmouth R.E. Inv. by 2.9% in the 3rd quarter. BlackRock Inc. now owns 7,437,398 shares of the real estate investment trust’s stock worth $124,356,000 after purchasing an additional 206,447 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Monmouth R.E. Inv. by 6.3% in the 3rd quarter. Martingale Asset Management L P now owns 232,928 shares of the real estate investment trust’s stock worth $3,895,000 after purchasing an additional 13,820 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Monmouth R.E. Inv. by 1.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 736,980 shares of the real estate investment trust’s stock worth $12,322,000 after purchasing an additional 12,348 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Monmouth R.E. Inv. by 2.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 523,020 shares of the real estate investment trust’s stock worth $8,744,000 after purchasing an additional 11,608 shares during the last quarter. Finally, Montag A & Associates Inc. acquired a new stake in Monmouth R.E. Inv. in the 3rd quarter valued at approximately $17,471,000. 62.69% of the stock is currently owned by institutional investors and hedge funds.
NYSE:MNR traded down $0.07 during trading hours on Monday, reaching $14.94. 325,260 shares of the stock were exchanged, compared to its average volume of 651,499. The company has a quick ratio of 5.61, a current ratio of 5.61 and a debt-to-equity ratio of 1.59. Monmouth R.E. Inv. has a 52 week low of $13.87 and a 52 week high of $18.45. The company has a market cap of $1.21 billion, a PE ratio of 19.66, a P/E/G ratio of 2.12 and a beta of 0.67.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Thursday, November 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Wednesday, November 14th. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is 89.47%.
About Monmouth R.E. Inv.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully-integrated and self-managed real estate company, whose property portfolio consists of 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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