Monmouth R.E. Inv. Corp. Plans Quarterly Dividend of $0.17 (MNR)

Monmouth R.E. Inv. Corp. (NYSE:MNR) declared a quarterly dividend on Wednesday, April 3rd, Wall Street Journal reports. Stockholders of record on Wednesday, May 15th will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, June 17th. This represents a $0.68 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Tuesday, May 14th.

Monmouth R.E. Inv. has increased its dividend payment by an average of 3.7% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Monmouth R.E. Inv. has a dividend payout ratio of 75.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Monmouth R.E. Inv. to earn $1.00 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 68.0%.

Shares of Monmouth R.E. Inv. stock opened at $13.61 on Friday. Monmouth R.E. Inv. has a 52 week low of $11.88 and a 52 week high of $17.51. The firm has a market capitalization of $1.24 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.03 and a beta of 0.79. The company has a current ratio of 7.46, a quick ratio of 7.46 and a debt-to-equity ratio of 0.09.

Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported ($0.36) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.59). Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.27%. The business had revenue of $39.15 million during the quarter, compared to analyst estimates of $40.22 million. Equities analysts forecast that Monmouth R.E. Inv. will post 0.94 earnings per share for the current fiscal year.

In other Monmouth R.E. Inv. news, Chairman Eugene W. Landy sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $266,800.00. Following the sale, the chairman now owns 918,733 shares in the company, valued at approximately $12,255,898.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Umh Properties, Inc. purchased 19,365 shares of the business’s stock in a transaction on Friday, March 15th. The shares were bought at an average price of $12.60 per share, for a total transaction of $243,999.00. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 22,713 shares of company stock worth $287,689 and have sold 29,000 shares worth $396,800. 4.02% of the stock is currently owned by corporate insiders.

MNR has been the topic of several research reports. Zacks Investment Research raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. JPMorgan Chase & Co. initiated coverage on Monmouth R.E. Inv. in a research note on Friday, March 8th. They set a “neutral” rating and a $14.00 target price on the stock. ValuEngine lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Royal Bank of Canada initiated coverage on Monmouth R.E. Inv. in a research note on Friday, March 29th. They set a “sector perform” rating and a $14.00 target price on the stock. Finally, Boenning Scattergood set a $18.00 target price on Monmouth R.E. Inv. and gave the stock a “buy” rating in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.67.

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About Monmouth R.E. Inv.

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize 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 113 properties containing a total of approximately 21.6 million rentable square feet, geographically diversified across 30 states.

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Dividend History for Monmouth R.E. Inv. (NYSE:MNR)

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