Connors Investor Services Inc. trimmed its position in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 0.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,364 shares of the real estate investment trust’s stock after selling 1,633 shares during the period. Connors Investor Services Inc. owned 0.23% of Monmouth R.E. Inv. worth $2,986,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in MNR. Kavar Capital Partners LLC purchased a new position in shares of Monmouth R.E. Inv. during the 2nd quarter valued at approximately $56,000. Advisor Group Inc. boosted its stake in shares of Monmouth R.E. Inv. by 45.7% during the 2nd quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock worth $66,000 after acquiring an additional 1,533 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Monmouth R.E. Inv. during the 2nd quarter worth about $68,000. Schroder Investment Management Group bought a new stake in shares of Monmouth R.E. Inv. during the 2nd quarter worth about $81,000. Finally, Russell Investments Group Ltd. bought a new stake in shares of Monmouth R.E. Inv. during the 2nd quarter worth about $119,000. 68.47% of the stock is owned by hedge funds and other institutional investors.
MNR stock traded up $0.10 during midday trading on Thursday, reaching $14.43. 672 shares of the company’s stock traded hands, compared to its average volume of 436,304. The company has a 50-day simple moving average of $13.46 and a two-hundred day simple moving average of $13.59. Monmouth R.E. Inv. Corp. has a 1-year low of $11.88 and a 1-year high of $17.16. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 16.59 and a beta of 0.64. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend was Wednesday, August 14th. Monmouth R.E. Inv.’s dividend payout ratio is presently 78.16%.
In related news, Chairman Eugene W. Landy sold 8,000 shares of Monmouth R.E. Inv. stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $13.02, for a total transaction of $104,160.00. Following the completion of the sale, the chairman now owns 895,219 shares in the company, valued at approximately $11,655,751.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have purchased 5,376 shares of company stock valued at $69,777. 4.02% of the stock is currently owned by company insiders.
Several analysts have recently issued reports 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 price target for the company. BMO Capital Markets set a $15.00 price target on Monmouth R.E. Inv. and gave the stock a “hold” rating in a research note on Friday, August 2nd. Finally, Zacks Investment Research downgraded Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $15.67.
About Monmouth R.E. Inv.
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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