Monmouth Real Estate Investment Corporation (NYSE:MNR) declared a quarterly dividend on Tuesday, October 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, November 15th will be paid a dividend of 0.17 per share by the real estate investment trust on Friday, December 15th. This represents a $0.68 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16.

Monmouth Real Estate Investment Corporation has increased its dividend by an average of 2.2% per year over the last three years and has increased its dividend every year for the last 2 years. Monmouth Real Estate Investment Corporation has a payout ratio of 88.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Monmouth Real Estate Investment Corporation to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 73.9%.

Monmouth Real Estate Investment Corporation (MNR) opened at $17.20 on Monday. Monmouth Real Estate Investment Corporation has a 52-week low of $13.08 and a 52-week high of $17.45. The company has a debt-to-equity ratio of 1.51, a quick ratio of 7.24 and a current ratio of 7.24. The firm has a market capitalization of $1,248.06, a P/E ratio of 23.24, a P/E/G ratio of 2.66 and a beta of 0.51.

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A number of research analysts recently weighed in on the company. B. Riley reaffirmed a “buy” rating on shares of Monmouth Real Estate Investment Corporation in a research report on Wednesday, November 1st. Zacks Investment Research lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. BidaskClub lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. National Securities reaffirmed 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 research report on Monday, August 21st. Finally, BMO Capital Markets assumed coverage on Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Monmouth Real Estate Investment Corporation has a consensus rating of “Buy” and a consensus price target of $17.00.

In other Monmouth Real Estate Investment Corporation news, Chairman Eugene W. Landy sold 32,500 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $16.27, for a total transaction of $528,775.00. Following the sale, the chairman now directly owns 880,705 shares of the company’s stock, valued at $14,329,070.35. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have acquired 1,602 shares of company stock worth $32,174. Insiders own 5.31% of the company’s stock.

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.

Dividend History for Monmouth Real Estate Investment Corporation (NYSE:MNR)

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