FBR & Co Reiterates Outperform Rating for Monmouth Real Estate Investment Corporation (NYSE:MNR)

Monmouth Real Estate Investment Corporation (NYSE:MNR)‘s stock had its “outperform” rating reaffirmed by research analysts at FBR & Co in a report issued on Tuesday, July 11th, Marketbeat Ratings reports. They currently have a $16.50 price target on the real estate investment trust’s stock. FBR & Co’s price target suggests a potential upside of 8.41% from the stock’s previous close. FBR & Co also issued estimates for Monmouth Real Estate Investment Corporation’s Q3 2017 earnings at $0.17 EPS, Q4 2017 earnings at $0.20 EPS, FY2017 earnings at $0.75 EPS, Q1 2018 earnings at $0.21 EPS, Q2 2018 earnings at $0.22 EPS, Q3 2018 earnings at $0.22 EPS, Q4 2018 earnings at $0.22 EPS and FY2018 earnings at $0.87 EPS.

MNR has been the topic of a number of other research reports. DA Davidson raised Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Thursday, May 18th. Zacks Investment Research raised Monmouth Real Estate Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub raised Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Finally, National Securities reissued a “buy” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a report on Thursday, May 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $16.00.

Monmouth Real Estate Investment Corporation (MNR) traded down 0.72% during trading on Tuesday, hitting $15.22. The company had a trading volume of 147,132 shares. Monmouth Real Estate Investment Corporation has a 12-month low of $12.89 and a 12-month high of $15.67. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 48.16 and a beta of 0.51. The firm has a 50-day moving average of $15.23 and a 200 day moving average of $14.76.

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A number of hedge funds and other institutional investors have recently made changes to their positions in MNR. Vanguard Group Inc. raised its position in shares of Monmouth Real Estate Investment Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 7,667,241 shares of the real estate investment trust’s stock valued at $109,412,000 after buying an additional 257,768 shares in the last quarter. Boulegeris Investments Inc. raised its position in shares of Monmouth Real Estate Investment Corporation by 1.6% in the second quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock valued at $36,063,000 after buying an additional 38,494 shares in the last quarter. State Street Corp raised its position in shares of Monmouth Real Estate Investment Corporation by 17.1% in the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock valued at $21,566,000 after buying an additional 220,934 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Monmouth Real Estate Investment Corporation by 14.3% in the first quarter. Renaissance Technologies LLC now owns 1,367,600 shares of the real estate investment trust’s stock valued at $19,516,000 after buying an additional 171,100 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Monmouth Real Estate Investment Corporation by 6.6% in the second quarter. Principal Financial Group Inc. now owns 966,089 shares of the real estate investment trust’s stock valued at $14,539,000 after buying an additional 59,438 shares in the last quarter. 59.80% of the stock is owned by institutional investors and hedge funds.

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.

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