Monmouth Real Estate Investment Corporation (NYSE:MNR) Coverage Initiated by Analysts at BMO Capital Markets

Equities researchers at BMO Capital Markets started coverage on shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) in a research report issued on Monday, September 11th, MarketBeat reports. The brokerage set a “market perform” rating and a $16.50 price target on the real estate investment trust’s stock. BMO Capital Markets’ price target would suggest a potential upside of 0.36% from the stock’s previous close.

A number of other equities analysts also recently commented on MNR. DA Davidson upgraded Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, May 18th. BidaskClub upgraded Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Zacks Investment Research upgraded Monmouth Real Estate Investment Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. FBR & Co restated an “outperform” rating and issued a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Finally, National Securities restated a “buy” rating and issued a $18.00 target price (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $16.80.

Monmouth Real Estate Investment Corporation (NYSE MNR) opened at 16.20 on Monday. Monmouth Real Estate Investment Corporation has a 12-month low of $12.89 and a 12-month high of $16.50. The firm has a market cap of $1.20 billion, a P/E ratio of 54.55 and a beta of 0.50. The firm’s 50-day moving average is $15.65 and its 200 day moving average is $14.98.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.04. The firm had revenue of $28.61 million for the quarter, compared to analyst estimates of $28.81 million. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The business’s revenue was up 18.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. Equities analysts forecast that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current year.

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In related news, Chairman Eugene W. Landy sold 32,500 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.27, for a total transaction of $528,775.00. Following the completion of the transaction, the chairman now directly owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 2,327 shares of company stock valued at $42,705 over the last three months. 5.31% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of MNR. Teachers Advisors LLC lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 31.7% in the 4th quarter. Teachers Advisors LLC now owns 146,812 shares of the real estate investment trust’s stock valued at $2,237,000 after purchasing an additional 35,311 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 19.6% in the 1st quarter. Bank of Montreal Can now owns 43,400 shares of the real estate investment trust’s stock valued at $619,000 after purchasing an additional 7,098 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 15.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 11,715 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,600 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 4.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 67,100 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 2,596 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Monmouth Real Estate Investment Corporation by 14.7% in the 1st quarter. First Trust Advisors LP now owns 97,734 shares of the real estate investment trust’s stock valued at $1,395,000 after purchasing an additional 12,540 shares during the last quarter. 60.55% of the stock is owned by institutional investors and hedge funds.

Monmouth Real Estate Investment Corporation Company Profile

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

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