New York State Common Retirement Fund reduced its position in Monmouth Real Estate Investment Corporation (NYSE:MNR) by 30.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 71,900 shares of the real estate investment trust’s stock after selling 31,751 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Monmouth Real Estate Investment Corporation worth $1,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MNR. Envestnet Asset Management Inc. grew its holdings in shares of Monmouth Real Estate Investment Corporation by 8.0% during the first quarter. Envestnet Asset Management Inc. now owns 7,571 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 559 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Monmouth Real Estate Investment Corporation during the first quarter valued at $125,000. Pekin Singer Strauss Asset Management IL grew its holdings in shares of Monmouth Real Estate Investment Corporation by 5.4% during the second quarter. Pekin Singer Strauss Asset Management IL now owns 11,650 shares of the real estate investment trust’s stock valued at $175,000 after buying an additional 595 shares during the last quarter. Intrust Bank NA purchased a new stake in shares of Monmouth Real Estate Investment Corporation during the second quarter valued at $181,000. Finally, US Bancorp DE grew its holdings in shares of Monmouth Real Estate Investment Corporation by 172.8% during the second quarter. US Bancorp DE now owns 12,682 shares of the real estate investment trust’s stock valued at $191,000 after buying an additional 8,034 shares during the last quarter. 60.63% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on MNR shares. 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. 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. BidaskClub lowered shares of Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. National Securities reissued a “buy” rating and set a $18.00 price objective (up from $16.50) on shares of Monmouth Real Estate Investment Corporation in a report on Monday, August 21st. Finally, BMO Capital Markets started 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. Three equities research 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 an average rating of “Buy” and a consensus price target of $17.00.

In related news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction 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 directly owns 880,705 shares in the company, valued at approximately $14,329,070.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased a total of 1,602 shares of company stock worth $32,174 over the last quarter. 5.31% of the stock is owned by company insiders.

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Monmouth Real Estate Investment Corporation (NYSE:MNR) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 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 for the quarter, compared to analyst estimates of $28.81 million. During the same period last year, the business earned $0.19 EPS. Monmouth Real Estate Investment Corporation’s revenue for the quarter was up 18.7% compared to the same quarter last year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 15th will be paid a dividend of $0.17 per share. This is a positive change from Monmouth Real Estate Investment Corporation’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Tuesday, November 14th. Monmouth Real Estate Investment Corporation’s dividend payout ratio (DPR) is currently 213.33%.

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

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