Wedbush Securities Inc. reduced its stake in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 16.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,623 shares of the real estate investment trust’s stock after selling 6,173 shares during the period. Wedbush Securities Inc.’s holdings in Monmouth Real Estate Investment Corporation were worth $512,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC grew its stake in Monmouth Real Estate Investment Corporation 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 acquiring an additional 13,679 shares in the last quarter. Boulegeris Investments Inc. grew its stake in Monmouth Real Estate Investment Corporation 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 acquiring an additional 38,494 shares in the last quarter. IndexIQ Advisors LLC grew its stake in Monmouth Real Estate Investment Corporation 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 acquiring an additional 10,211 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in Monmouth Real Estate Investment Corporation 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 acquiring an additional 62,460 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Monmouth Real Estate Investment Corporation 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 acquiring an additional 16,118 shares in the last quarter. Institutional investors and hedge funds own 62.12% of the company’s stock.

Several brokerages have recently weighed in on MNR. Zacks Investment Research cut shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BMO Capital Markets began coverage on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They issued a “market perform” rating and a $16.50 price target for the company. National Securities reaffirmed a “buy” rating and issued a $18.00 price target (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. BidaskClub cut shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $16.50 price target on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $17.00.

Shares of Monmouth Real Estate Investment Corporation (MNR) opened at $17.22 on Monday. Monmouth Real Estate Investment Corporation has a 52-week low of $12.91 and a 52-week high of $17.40. The firm has a market cap of $1,249.51, a P/E ratio of 23.27, a PEG ratio of 2.66 and a beta of 0.51. The company has a debt-to-equity ratio of 1.51, a current ratio of 7.24 and a quick ratio of 7.24.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last posted its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. Monmouth Real Estate Investment Corporation’s revenue for the quarter was up 18.7% compared to the same quarter last year. research analysts expect that Monmouth Real Estate Investment Corporation will post 0.77 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be given a dividend of $0.17 per share. This is a boost from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $0.68 dividend on an annualized basis and a yield of 3.95%. Monmouth Real Estate Investment Corporation’s dividend payout ratio is presently 213.33%.

In related news, Chairman Eugene W. Landy sold 32,500 shares of the 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 completion of 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 1,602 shares of company stock valued at $32,174 in the last three months. 5.31% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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