Zacks Investment Research downgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a buy rating to a hold rating in a research report released on Thursday, Zacks.com reports.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

Several other analysts have also recently issued reports on MNR. B. Riley reaffirmed a buy rating and set a $17.00 price objective on shares of Monmouth R.E. Inv. in a research note on Wednesday, November 27th. JPMorgan Chase & Co. cut shares of Monmouth R.E. Inv. from a neutral rating to an underweight rating and set a $15.00 price objective for the company. in a research note on Wednesday, December 18th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Monmouth R.E. Inv. has an average rating of Hold and a consensus price target of $16.00.

NYSE MNR traded up $0.03 during trading hours on Thursday, hitting $15.01. 268,757 shares of the company’s stock traded hands, compared to its average volume of 454,024. Monmouth R.E. Inv. has a 52-week low of $12.76 and a 52-week high of $15.53. The company has a market capitalization of $1.46 billion, a PE ratio of 29.51 and a beta of 0.64. The company has a debt-to-equity ratio of 1.30, a current ratio of 8.86 and a quick ratio of 8.86. The firm’s 50-day moving average is $14.67 and its 200-day moving average is $14.39.

Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings data on Monday, November 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.02. Monmouth R.E. Inv. had a net margin of 38.88% and a return on equity of 9.58%. The company had revenue of $40.60 million during the quarter, compared to analysts’ expectations of $40.22 million. Equities research analysts predict that Monmouth R.E. Inv. will post 0.92 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Tuesday, February 18th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, February 14th. This represents a $0.68 annualized dividend and a yield of 4.53%. Monmouth R.E. Inv.’s dividend payout ratio is presently 80.00%.

In other news, insider Umh Properties, Inc. purchased 17,195 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of $14.86 per share, with a total value of $255,517.70. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven B. Wolgin sold 4,812 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $25.01, for a total transaction of $120,348.12. Following the completion of the sale, the director now directly owns 69,624 shares of the company’s stock, valued at approximately $1,741,296.24. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 18,817 shares of company stock valued at $278,924. 4.02% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of MNR. FMR LLC grew its stake in shares of Monmouth R.E. Inv. by 132,971,100.0% in the 1st quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock valued at $17,526,000 after buying an additional 1,329,711 shares during the period. Millennium Management LLC grew its stake in shares of Monmouth R.E. Inv. by 40,540.9% in the 3rd quarter. Millennium Management LLC now owns 1,016,022 shares of the real estate investment trust’s stock valued at $14,640,000 after buying an additional 1,013,522 shares during the period. Panagora Asset Management Inc. grew its stake in shares of Monmouth R.E. Inv. by 896.6% in the 4th quarter. Panagora Asset Management Inc. now owns 227,631 shares of the real estate investment trust’s stock valued at $3,296,000 after buying an additional 204,791 shares during the period. Renaissance Technologies LLC grew its stake in shares of Monmouth R.E. Inv. by 6.8% in the 4th quarter. Renaissance Technologies LLC now owns 3,168,700 shares of the real estate investment trust’s stock valued at $45,883,000 after buying an additional 200,434 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Monmouth R.E. Inv. by 152.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 315,200 shares of the real estate investment trust’s stock valued at $4,542,000 after buying an additional 190,200 shares during the period. 67.07% of the stock is owned by institutional investors and hedge funds.

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 21.8 million rentable square feet, geographically diversified across 30 states.

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