Zacks Investment Research downgraded shares of Monmouth Real Estate Investment (NYSE:MNR) from a hold rating to a sell rating in a report issued on Wednesday morning.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

MNR has been the subject of a number of other research reports. BMO Capital Markets initiated coverage on shares of Monmouth Real Estate Investment in a research note on Monday, September 11th. They issued a market perform rating and a $16.50 price objective for the company. National Securities reissued a buy rating and issued a $18.00 price objective (up previously from $16.50) on shares of Monmouth Real Estate Investment in a research note on Monday, August 21st. Finally, B. Riley boosted their price objective on shares of Monmouth Real Estate Investment from $16.50 to $18.50 and gave the stock a buy rating in a research note on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Monmouth Real Estate Investment has a consensus rating of Hold and an average price target of $17.58.

Monmouth Real Estate Investment (MNR) traded up $0.17 during trading on Wednesday, hitting $18.03. 375,994 shares of the stock traded hands, compared to its average volume of 427,747. The company has a quick ratio of 4.50, a current ratio of 4.50 and a debt-to-equity ratio of 1.52. Monmouth Real Estate Investment has a 1 year low of $13.68 and a 1 year high of $18.45. The company has a market capitalization of $1,367.52, a P/E ratio of 23.19, a PEG ratio of 2.85 and a beta of 0.52.

Monmouth Real Estate Investment (NYSE:MNR) last issued its quarterly earnings data on Wednesday, November 29th. The real estate investment trust reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.12). The business had revenue of $30.40 million during the quarter, compared to the consensus estimate of $30.91 million. Monmouth Real Estate Investment had a return on equity of 7.65% and a net margin of 30.84%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.22 EPS. research analysts expect that Monmouth Real Estate Investment will post 0.9 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 15th will be issued a $0.17 dividend. This is a positive change from Monmouth Real Estate Investment’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend is Tuesday, November 14th. Monmouth Real Estate Investment’s payout ratio is currently 212.51%.

In other news, Chairman Eugene W. Landy sold 32,500 shares of the business’s 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 of the company’s stock, valued at $14,329,070.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders acquired 445 shares of company stock worth $7,004 over the last ninety days. Corporate insiders own 5.31% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Monmouth Real Estate Investment by 0.5% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock valued at $1,168,000 after buying an additional 362 shares during the last quarter. Pekin Singer Strauss Asset Management IL grew its holdings in shares of Monmouth Real Estate Investment 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. Aperio Group LLC grew its holdings in shares of Monmouth Real Estate Investment by 3.3% during the second quarter. Aperio Group LLC now owns 20,782 shares of the real estate investment trust’s stock valued at $313,000 after buying an additional 671 shares during the last quarter. QS Investors LLC boosted its holdings in Monmouth Real Estate Investment by 6.8% in the second quarter. QS Investors LLC now owns 11,357 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 720 shares during the last quarter. Finally, Martingale Asset Management L P boosted its holdings in Monmouth Real Estate Investment by 0.5% in the second quarter. Martingale Asset Management L P now owns 179,104 shares of the real estate investment trust’s stock valued at $2,696,000 after purchasing an additional 900 shares during the last quarter. 66.64% of the stock is currently owned by hedge funds and other institutional investors.

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About Monmouth Real Estate Investment

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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