Goldman Sachs Group Inc. reduced its position in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 30.9% during the first quarter, Holdings Channel reports. The fund owned 54,293 shares of the real estate investment trust’s stock after selling 24,317 shares during the period. Goldman Sachs Group Inc.’s holdings in Monmouth Real Estate Investment Corporation were worth $775,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America raised its position in shares of Monmouth Real Estate Investment Corporation by 3.9% in the first quarter. Teachers Insurance & Annuity Association of America now owns 71,720 shares of the real estate investment trust’s stock worth $1,023,000 after buying an additional 2,682 shares during the last quarter. State Street Corp raised its stake in shares of Monmouth Real Estate Investment Corporation by 17.1% in the first quarter. State Street Corp now owns 1,511,018 shares of the real estate investment trust’s stock worth $21,566,000 after buying an additional 220,934 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Monmouth Real Estate Investment Corporation by 24.4% in the first quarter. Bank of America Corp DE now owns 30,788 shares of the real estate investment trust’s stock worth $440,000 after buying an additional 6,032 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in shares of Monmouth Real Estate Investment Corporation by 22.5% in the first quarter. Oppenheimer & Co. Inc. now owns 37,931 shares of the real estate investment trust’s stock worth $541,000 after buying an additional 6,971 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Monmouth Real Estate Investment Corporation by 5.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 281,212 shares of the real estate investment trust’s stock worth $4,013,000 after buying an additional 14,835 shares in the last quarter. Institutional investors own 58.35% of the company’s stock.

Shares of Monmouth Real Estate Investment Corporation (NYSE MNR) traded up 0.46% during midday trading on Wednesday, hitting $15.26. 40,631 shares of the stock were exchanged. The firm’s 50-day moving average is $15.27 and its 200-day moving average is $14.76. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 51.38 and a beta of 0.51. Monmouth Real Estate Investment Corporation has a 12 month low of $12.89 and a 12 month high of $15.67.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last issued its earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $28.61 million during the quarter, compared to analysts’ expectations of $28.81 million. During the same quarter last year, the company posted $0.19 earnings per share. The firm’s revenue was up 18.7% compared to the same quarter last year. Equities research analysts predict that Monmouth Real Estate Investment Corporation will post $0.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, August 15th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a yield of 4.21%. Monmouth Real Estate Investment Corporation’s dividend payout ratio is presently 213.33%.

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MNR has been the subject of a number of research reports. Zacks Investment Research lowered shares of Monmouth Real Estate Investment Corporation from a “strong-buy” rating to a “sell” rating in a research note on Thursday, May 11th. DA Davidson upgraded shares of Monmouth Real Estate Investment Corporation from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, May 18th. National Securities reiterated a “buy” rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a research note on Thursday, May 4th. FBR & Co reiterated an “outperform” rating and set a $16.50 target price on shares of Monmouth Real Estate Investment Corporation in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of Monmouth Real Estate Investment Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.00.

About Monmouth Real Estate Investment Corporation

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

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