Monmouth R.E. Inv. Corp. (MNR) Position Reduced by Sei Investments Co.
Sei Investments Co. lessened its stake in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 79.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,213 shares of the real estate investment trust’s stock after selling 27,857 shares during the period. Sei Investments Co.’s holdings in Monmouth R.E. Inv. were worth $117,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of MNR. QS Investors LLC increased its position in Monmouth R.E. Inv. by 6.8% during the 2nd quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 720 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Monmouth R.E. Inv. during the 2nd quarter valued at about $173,000. Intrust Bank NA purchased a new position in Monmouth R.E. Inv. during the 2nd quarter valued at about $181,000. US Bancorp DE increased its position in Monmouth R.E. Inv. by 172.8% during the 2nd quarter. US Bancorp DE now owns 12,682 shares of the real estate investment trust’s stock valued at $191,000 after purchasing an additional 8,034 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in Monmouth R.E. Inv. during the 3rd quarter valued at about $199,000. 63.16% of the stock is currently owned by institutional investors.
A number of research analysts have commented on the stock. B. Riley reissued a “buy” rating on shares of Monmouth R.E. Inv. in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Wednesday, December 6th. National Securities restated a “buy” rating and issued a $18.00 price target (up from $16.50) on shares of Monmouth R.E. Inv. in a report on Monday, August 21st. Finally, BMO Capital Markets initiated coverage on shares of Monmouth R.E. Inv. in a report on Monday, September 11th. They issued a “market perform” rating and a $16.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.58.
Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings results on Wednesday, November 29th. The real estate investment trust reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). Monmouth R.E. Inv. had a net margin of 30.84% and a return on equity of 7.65%. The firm had revenue of $30.40 million during the quarter, compared to the consensus estimate of $30.91 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. sell-side analysts predict that Monmouth R.E. Inv. Corp. will post 0.9 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Wednesday, November 15th were issued a $0.17 dividend. This is a boost from Monmouth R.E. Inv.’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date was Tuesday, November 14th. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is currently 212.51%.
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Monmouth R.E. Inv. 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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