Renaissance Technologies LLC Has $25.21 Million Holdings in Monmouth Real Estate Investment Corporation (NYSE:MNR)

Renaissance Technologies LLC raised its holdings in shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) by 22.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,674,797 shares of the real estate investment trust’s stock after acquiring an additional 307,197 shares during the quarter. Renaissance Technologies LLC owned approximately 2.31% of Monmouth Real Estate Investment Corporation worth $25,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in shares of Monmouth Real Estate Investment Corporation by 8.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 559 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Monmouth Real Estate Investment Corporation during the 1st quarter worth about $125,000. Pekin Singer Strauss Asset Management IL boosted its stake in shares of Monmouth Real Estate Investment Corporation by 5.4% during the 2nd quarter. Pekin Singer Strauss Asset Management IL now owns 11,650 shares of the real estate investment trust’s stock worth $175,000 after purchasing an additional 595 shares during the last quarter. Intrust Bank NA acquired a new stake in shares of Monmouth Real Estate Investment Corporation during the 2nd quarter worth about $181,000. Finally, US Bancorp DE boosted its position in shares of Monmouth Real Estate Investment Corporation by 172.8% in the second quarter. US Bancorp DE now owns 12,682 shares of the real estate investment trust’s stock worth $191,000 after acquiring an additional 8,034 shares during the last quarter. 60.56% of the stock is currently owned by institutional investors.

Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) opened at 16.81 on Wednesday. The stock’s 50 day moving average is $16.26 and its 200-day moving average is $15.29. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 54.23 and a beta of 0.50. Monmouth Real Estate Investment Corporation has a 1-year low of $12.91 and a 1-year high of $16.93.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The business had revenue of $28.61 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. On average, analysts anticipate that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a boost from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment Corporation’s dividend payout ratio is presently 213.33%.

Several equities research analysts recently issued reports on MNR shares. BMO Capital Markets started coverage on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They issued a “market perform” rating and a $16.50 target price on the stock. National Securities reissued a “buy” rating and issued a $18.00 target price (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research report on Wednesday, October 4th. BidaskClub cut shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $17.00.

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In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of the company’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $16.27, for a total value of $528,775.00. Following the completion of the transaction, the chairman now owns 880,705 shares of the company’s stock, valued at approximately $14,329,070.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 1,602 shares of company stock valued at $32,174. Insiders own 5.31% of the company’s stock.

About Monmouth Real Estate Investment Corporation

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.

Institutional Ownership by Quarter for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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