Wells Fargo & Company MN Sells 53,641 Shares of Monmouth R.E. Inv. Corp. (NYSE:MNR)

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Wells Fargo & Company MN lowered its position in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 746,438 shares of the real estate investment trust’s stock after selling 53,641 shares during the period. Wells Fargo & Company MN owned approximately 0.79% of Monmouth R.E. Inv. worth $10,113,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Kavar Capital Partners LLC purchased a new stake in Monmouth R.E. Inv. in the 2nd quarter valued at about $56,000. Advisor Group Inc. lifted its position in shares of Monmouth R.E. Inv. by 45.7% in the second quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,533 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Monmouth R.E. Inv. in the second quarter valued at approximately $147,000. Mid Atlantic Financial Management Inc. ADV bought a new position in shares of Monmouth R.E. Inv. during the first quarter worth approximately $150,000. Finally, Pictet Asset Management Ltd. bought a new position in shares of Monmouth R.E. Inv. during the first quarter worth approximately $211,000. 68.53% of the stock is owned by institutional investors.

In other news, Chairman Eugene W. Landy sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.02, for a total value of $104,160.00. Following the transaction, the chairman now directly owns 895,219 shares of the company’s stock, valued at approximately $11,655,751.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders bought a total of 6,142 shares of company stock worth $80,806 over the last three months. 4.02% of the stock is owned by company insiders.

A number of equities analysts have recently weighed in on MNR shares. Compass Point started coverage on Monmouth R.E. Inv. in a research note on Friday, September 6th. They set a “buy” rating and a $16.50 target price on the stock. BMO Capital Markets set a $15.00 target price on Monmouth R.E. Inv. and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $15.67.

Monmouth R.E. Inv. stock traded down $0.17 during mid-day trading on Thursday, reaching $14.17. 6,957 shares of the company were exchanged, compared to its average volume of 463,037. The company has a fifty day simple moving average of $13.38 and a 200-day simple moving average of $13.57. Monmouth R.E. Inv. Corp. has a 12 month low of $11.88 and a 12 month high of $17.42. The company has a debt-to-equity ratio of 1.34, a current ratio of 6.64 and a quick ratio of 6.64. The firm has a market cap of $1.30 billion, a PE ratio of 16.28 and a beta of 0.64.

Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The business had revenue of $39.47 million during the quarter, compared to the consensus estimate of $39.91 million. Sell-side analysts anticipate that Monmouth R.E. Inv. Corp. will post 0.87 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Wednesday, August 14th. Monmouth R.E. Inv.’s dividend payout ratio is 78.16%.

Monmouth R.E. Inv. Profile

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize 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 113 properties containing a total of approximately 21.8 million rentable square feet, geographically diversified across 30 states.

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Institutional Ownership by Quarter for Monmouth R.E. Inv. (NYSE:MNR)

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