Equities research analysts expect that Monmouth R.E. Inv. Corp. (NYSE:MNR) will post sales of $40.31 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Monmouth R.E. Inv.’s earnings. The highest sales estimate is $41.05 million and the lowest is $39.18 million. Monmouth R.E. Inv. posted sales of $33.62 million in the same quarter last year, which would indicate a positive year over year growth rate of 19.9%. The firm is scheduled to announce its next earnings report after the market closes on Thursday, May 9th.
According to Zacks, analysts expect that Monmouth R.E. Inv. will report full-year sales of $162.42 million for the current financial year, with estimates ranging from $156.72 million to $165.99 million. For the next financial year, analysts forecast that the firm will report sales of $175.25 million, with estimates ranging from $156.78 million to $188.51 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Monmouth R.E. Inv..
Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.59). Monmouth R.E. Inv. had a return on equity of 0.27% and a net margin of 1.33%. The company had revenue of $39.15 million for the quarter, compared to the consensus estimate of $40.22 million.
Several equities analysts recently issued reports on MNR shares. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Royal Bank of Canada started coverage on Monmouth R.E. Inv. in a research report on Friday, March 29th. They set a “sector perform” rating and a $14.00 price target on the stock. JPMorgan Chase & Co. started coverage on Monmouth R.E. Inv. in a research report on Friday, March 8th. They set a “neutral” rating and a $14.00 price target on the stock. Finally, Boenning Scattergood set a $18.00 price target on Monmouth R.E. Inv. and gave the stock a “buy” rating in a research report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Monmouth R.E. Inv. presently has a consensus rating of “Hold” and a consensus target price of $16.40.
In related news, Chairman Eugene W. Landy sold 20,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $266,800.00. Following the sale, the chairman now directly owns 918,733 shares in the company, valued at $12,255,898.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael P. Landy purchased 2,100 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were purchased at an average price of $13.18 per share, for a total transaction of $27,678.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 22,713 shares of company stock worth $287,689 and sold 29,000 shares worth $396,800. 4.02% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNR. Ronna Sue Cohen boosted its position in shares of 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 purchasing an additional 1,833,764 shares in the last quarter. Granite Investment Partners LLC bought a new stake in shares of Monmouth R.E. Inv. during the fourth quarter valued at approximately $11,179,000. CI Investments Inc. bought a new stake in shares of Monmouth R.E. Inv. during the fourth quarter valued at approximately $11,164,000. BlackRock Inc. boosted its position in shares of Monmouth R.E. Inv. by 12.1% during the fourth quarter. BlackRock Inc. now owns 8,336,117 shares of the real estate investment trust’s stock valued at $103,368,000 after purchasing an additional 898,719 shares in the last quarter. Finally, Resolution Capital Ltd bought a new stake in shares of Monmouth R.E. Inv. during the fourth quarter valued at approximately $10,069,000. Institutional investors own 67.90% of the company’s stock.
MNR opened at $13.77 on Thursday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.46 and a current ratio of 7.46. Monmouth R.E. Inv. has a 1 year low of $11.88 and a 1 year high of $17.51. The company has a market cap of $1.30 billion, a P/E ratio of 15.83, a P/E/G ratio of 2.12 and a beta of 0.79.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.68 annualized dividend and a yield of 4.94%. Monmouth R.E. Inv.’s payout ratio is 78.16%.
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 21.6 million rentable square feet, geographically diversified across 30 states.
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