Monmouth R.E. Inv. Corp. (NYSE:MNR) is Redmond Asset Management LLC’s 8th Largest Position

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Redmond Asset Management LLC lowered its holdings in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,145 shares of the real estate investment trust’s stock after selling 4,606 shares during the quarter. Monmouth R.E. Inv. accounts for about 2.1% of Redmond Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Redmond Asset Management LLC owned 0.38% of Monmouth R.E. Inv. worth $4,839,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MNR. Ronna Sue Cohen increased its position in Monmouth R.E. Inv. by 1,279.3% during the first quarter. Ronna Sue Cohen now owns 1,977,103 shares of the real estate investment trust’s stock valued at $1,977,000 after acquiring an additional 1,833,764 shares during the last quarter. FMR LLC increased its position in Monmouth R.E. Inv. by 132,971,100.0% during 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 during the last quarter. Kennedy Capital Management Inc. purchased a new stake in Monmouth R.E. Inv. during the first quarter valued at $9,434,000. Deutsche Bank AG increased its position in Monmouth R.E. Inv. by 104.7% during the fourth quarter. Deutsche Bank AG now owns 466,922 shares of the real estate investment trust’s stock valued at $5,787,000 after acquiring an additional 238,797 shares during the last quarter. Finally, Granite Investment Partners LLC increased its position in Monmouth R.E. Inv. by 17.3% during the first quarter. Granite Investment Partners LLC now owns 1,057,535 shares of the real estate investment trust’s stock valued at $13,938,000 after acquiring an additional 156,003 shares during the last quarter. Hedge funds and other institutional investors own 66.37% of the company’s stock.

Monmouth R.E. Inv. stock traded up $0.08 during mid-day trading on Thursday, reaching $13.14. 10,925 shares of the stock traded hands, compared to its average volume of 399,810. The firm’s 50-day simple moving average is $13.63. Monmouth R.E. Inv. Corp. has a 12-month low of $11.88 and a 12-month high of $17.51. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 1.34. The firm has a market capitalization of $1.25 billion, a PE ratio of 15.10 and a beta of 0.65.

Monmouth R.E. Inv. (NYSE:MNR) last released 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 company had revenue of $39.47 million for the quarter, compared to the consensus estimate of $39.91 million. Equities research analysts expect that Monmouth R.E. Inv. Corp. will post 0.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Wednesday, August 14th. Monmouth R.E. Inv.’s dividend payout ratio is presently 78.16%.

MNR has been the subject of a number of research reports. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets set a $15.00 price objective on Monmouth R.E. Inv. and gave the company a “hold” rating in a research report on Friday, August 2nd. Boenning Scattergood reiterated a “buy” rating and set a $17.50 price objective on shares of Monmouth R.E. Inv. in a research report on Friday, May 10th. Finally, ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Monmouth R.E. Inv. has an average rating of “Hold” and a consensus target price of $15.50.

Monmouth R.E. Inv. Company 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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