Zacks: Analysts Anticipate Monmouth R.E. Inv. Corp. (MNR) Will Post Earnings of $0.24 Per Share
Wall Street brokerages predict that Monmouth R.E. Inv. Corp. (NYSE:MNR) will report $0.24 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Monmouth R.E. Inv.’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.23. Monmouth R.E. Inv. posted earnings per share of $0.21 in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The firm is scheduled to report its next earnings results on Wednesday, December 5th.
On average, analysts expect that Monmouth R.E. Inv. will report full year earnings of $0.90 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $0.92. For the next year, analysts anticipate that the firm will post earnings of $1.02 per share, with EPS estimates ranging from $1.00 to $1.05. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Monmouth R.E. Inv..
Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.10). Monmouth R.E. Inv. had a net margin of 35.32% and a return on equity of 9.44%. The business had revenue of $36.20 million during the quarter, compared to the consensus estimate of $35.28 million.
In related news, Chairman Eugene W. Landy sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $16.84, for a total value of $134,720.00. Following the completion of the transaction, the chairman now directly owns 852,776 shares of the company’s stock, valued at $14,360,747.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Umh Properties, Inc. bought 9,396 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Monday, September 17th. The stock was purchased at an average cost of $16.39 per share, with a total value of $154,000.44. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 12,823 shares of company stock valued at $209,428. 4.63% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of MNR. Schwab Charles Investment Management Inc. lifted its position in Monmouth R.E. Inv. by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 372,649 shares of the real estate investment trust’s stock worth $5,605,000 after purchasing an additional 29,526 shares during the period. Private Advisor Group LLC acquired a new position in Monmouth R.E. Inv. during the first quarter worth $163,000. Northern Trust Corp raised its stake in Monmouth R.E. Inv. by 7.7% during the first quarter. Northern Trust Corp now owns 1,522,113 shares of the real estate investment trust’s stock worth $22,893,000 after acquiring an additional 109,140 shares in the last quarter. BlackRock Inc. raised its stake in Monmouth R.E. Inv. by 1.7% during the first quarter. BlackRock Inc. now owns 6,815,350 shares of the real estate investment trust’s stock worth $102,503,000 after acquiring an additional 112,696 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in Monmouth R.E. Inv. during the first quarter worth $169,000. 66.43% of the stock is owned by hedge funds and other institutional investors.
MNR opened at $16.36 on Monday. Monmouth R.E. Inv. has a 1-year low of $13.87 and a 1-year high of $18.45. The company has a debt-to-equity ratio of 1.59, a current ratio of 5.61 and a quick ratio of 5.61. The company has a market capitalization of $1.34 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.51.
The company also recently announced a quarterly dividend, which was paid on Monday, September 17th. Investors of record on Wednesday, August 15th were given a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, August 14th. This represents a $0.68 annualized dividend and a yield of 4.16%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is currently 89.47%.
About Monmouth R.E. Inv.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long-term leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully-integrated and self-managed real estate company, whose property portfolio consists of 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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