Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) have received a consensus rating of “Buy” from the six ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $17.00.

MNR has been the topic of a number of research analyst reports. BMO Capital Markets initiated coverage on shares of Monmouth Real Estate Investment Corporation in a report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective on the stock. BidaskClub raised shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 30th. FBR & Co reissued an “outperform” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a report on Tuesday, July 11th. Zacks Investment Research raised shares of Monmouth Real Estate Investment Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, National Securities reissued a “buy” rating and set a $18.00 price objective (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st.

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Monmouth Real Estate Investment Corporation (MNR) opened at 16.49 on Friday. The firm has a market capitalization of $1.15 billion, a PE ratio of 53.19 and a beta of 0.50. Monmouth Real Estate Investment Corporation has a 52-week low of $12.89 and a 52-week high of $16.63. The stock’s 50 day moving average price is $16.07 and its 200 day moving average price is $15.18.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last released its quarterly earnings data on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a net margin of 32.02% and a return on equity of 7.91%. The company had revenue of $28.61 million for the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. On average, analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 4.12%. This is a boost from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is presently 213.33%.

In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $16.27, for a total transaction of $528,775.00. Following the sale, the chairman now owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have acquired 1,827 shares of company stock worth $35,170. 5.31% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Eqis Capital Management Inc. increased its holdings in shares of Monmouth Real Estate Investment Corporation by 12.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 40,829 shares of the real estate investment trust’s stock valued at $661,000 after acquiring an additional 4,463 shares during the period. Intl Fcstone Inc. acquired a new position in shares of Monmouth Real Estate Investment Corporation in the 2nd quarter valued at $361,000. WFG Advisors LP increased its holdings in shares of Monmouth Real Estate Investment Corporation by 10.6% in the 2nd quarter. WFG Advisors LP now owns 35,272 shares of the real estate investment trust’s stock valued at $531,000 after acquiring an additional 3,380 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Monmouth Real Estate Investment Corporation by 3.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,239,300 shares of the real estate investment trust’s stock valued at $18,651,000 after acquiring an additional 39,656 shares during the period. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Monmouth Real Estate Investment Corporation by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock valued at $1,168,000 after acquiring an additional 362 shares during the period. 60.55% of the stock is currently owned by institutional investors and hedge funds.

Monmouth Real Estate Investment Corporation 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.

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