Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) have earned an average recommendation of “Buy” from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $16.75.

A number of research firms recently weighed in on MNR. B. Riley reaffirmed a “buy” rating on shares of Monmouth Real Estate Investment in a report on Wednesday, November 1st. Zacks Investment Research cut Monmouth Real Estate Investment from a “buy” rating to a “hold” rating in a report on Friday, August 18th. National Securities reaffirmed a “buy” rating and set a $18.00 price target (up from $16.50) on shares of Monmouth Real Estate Investment in a report on Monday, August 21st. Finally, BMO Capital Markets began coverage on Monmouth Real Estate Investment in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 price target for the company.

In other Monmouth Real Estate Investment news, Chairman Eugene W. Landy sold 32,500 shares of the stock in a transaction on Monday, September 11th. The stock was sold at an average price of $16.27, for a total value of $528,775.00. Following the transaction, the chairman now directly owns 880,705 shares in the company, valued at approximately $14,329,070.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired a total of 445 shares of company stock worth $7,004 over the last quarter. Corporate insiders own 5.31% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MNR. Teachers Advisors LLC boosted its position in shares of Monmouth Real Estate Investment by 10.5% in the 2nd quarter. Teachers Advisors LLC now owns 144,373 shares of the real estate investment trust’s stock worth $2,173,000 after purchasing an additional 13,679 shares during the last quarter. IndexIQ Advisors LLC boosted its position in shares of Monmouth Real Estate Investment by 14.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 81,205 shares of the real estate investment trust’s stock worth $1,222,000 after purchasing an additional 10,211 shares during the last quarter. BlackRock Inc. boosted its position in shares of Monmouth Real Estate Investment by 0.3% in the 2nd quarter. BlackRock Inc. now owns 6,034,708 shares of the real estate investment trust’s stock worth $90,823,000 after purchasing an additional 16,118 shares during the last quarter. Boulegeris Investments Inc. boosted its position in shares of Monmouth Real Estate Investment by 1.6% in the 2nd quarter. Boulegeris Investments Inc. now owns 2,396,252 shares of the real estate investment trust’s stock worth $36,063,000 after purchasing an additional 38,494 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Monmouth Real Estate Investment by 16.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 448,861 shares of the real estate investment trust’s stock worth $6,755,000 after purchasing an additional 62,460 shares during the last quarter. Hedge funds and other institutional investors own 64.50% of the company’s stock.

Shares of Monmouth Real Estate Investment (MNR) opened at $17.70 on Monday. Monmouth Real Estate Investment has a twelve month low of $13.30 and a twelve month high of $17.77. The firm has a market capitalization of $1,284.35, a price-to-earnings ratio of 23.92, a P/E/G ratio of 2.74 and a beta of 0.51. The company has a current ratio of 7.24, a quick ratio of 7.24 and a debt-to-equity ratio of 1.51.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, November 14th. Monmouth Real Estate Investment’s dividend payout ratio (DPR) is presently 226.67%.

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Monmouth Real Estate Investment Company 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.

Analyst Recommendations for Monmouth Real Estate Investment (NYSE:MNR)

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