Monmouth Real Estate Investment Co. (NYSE:MNR) Receives $19.42 Average Price Target from Brokerages

Monmouth Real Estate Investment Co. (NYSE:MNR) has been given an average rating of “Hold” by the eight analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $19.42.

A number of research analysts have commented on MNR shares. Royal Bank of Canada upped their price target on Monmouth Real Estate Investment from $17.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Compass Point raised Monmouth Real Estate Investment from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $18.88 to $21.50 in a research report on Thursday, July 22nd. Janney Montgomery Scott lowered Monmouth Real Estate Investment from a “buy” rating to a “neutral” rating in a research report on Friday, June 4th. Finally, Berenberg Bank lowered Monmouth Real Estate Investment from a “buy” rating to a “hold” rating and set a $20.00 price objective on the stock. in a research report on Thursday, May 27th.

Large investors have recently bought and sold shares of the stock. Water Island Capital LLC acquired a new position in Monmouth Real Estate Investment in the second quarter valued at $31,651,000. FMR LLC boosted its stake in Monmouth Real Estate Investment by 132,971,100.0% in the first quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock valued at $17,526,000 after acquiring an additional 1,329,711 shares in the last quarter. Bank of America Corp DE boosted its stake in Monmouth Real Estate Investment by 1,250.5% in the second quarter. Bank of America Corp DE now owns 1,261,340 shares of the real estate investment trust’s stock valued at $23,613,000 after acquiring an additional 1,167,944 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Monmouth Real Estate Investment by 224.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,236,664 shares of the real estate investment trust’s stock valued at $23,149,000 after acquiring an additional 855,843 shares in the last quarter. Finally, Nuance Investments LLC acquired a new position in Monmouth Real Estate Investment in the second quarter valued at $15,687,000. 69.59% of the stock is currently owned by hedge funds and other institutional investors.

MNR traded down $0.02 during trading hours on Friday, reaching $18.95. The company’s stock had a trading volume of 17,673 shares, compared to its average volume of 633,352. Monmouth Real Estate Investment has a fifty-two week low of $13.01 and a fifty-two week high of $19.76. The stock has a market cap of $1.86 billion, a PE ratio of 29.19 and a beta of 0.79. The business’s 50-day moving average is $18.96 and its 200-day moving average is $18.70. The company has a debt-to-equity ratio of 1.73, a current ratio of 19.73 and a quick ratio of 19.73.

Monmouth Real Estate Investment (NYSE:MNR) last released its quarterly earnings data on Sunday, August 1st. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Monmouth Real Estate Investment had a return on equity of 16.85% and a net margin of 54.23%. Analysts expect that Monmouth Real Estate Investment will post 0.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Monday, August 16th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, August 13th. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is presently 92.31%.

Monmouth Real Estate Investment Company Profile

Monmouth Real Estate Investment Corp. operates as a real estate investment trust. The firm engages in the ownership and management of real estate. It invests in single tenant, industrial buildings leased to investment-grade tenants on long-term net leases. The company was founded by Eugene W. Landy in 1968 and is headquartered in Holmdel, NJ.

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Analyst Recommendations for Monmouth Real Estate Investment (NYSE:MNR)

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