MetLife Investment Advisors LLC lessened its position in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 22.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,893 shares of the real estate investment trust’s stock after selling 11,528 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Monmouth R.E. Inv. were worth $482,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Private Capital Group LLC increased its position in shares of Monmouth R.E. Inv. by 212.2% during the 4th quarter. Private Capital Group LLC now owns 2,953 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 2,007 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth approximately $73,000. New York State Teachers Retirement System acquired a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth approximately $84,000. Quantamental Technologies LLC acquired a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth approximately $96,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Monmouth R.E. Inv. during the 4th quarter worth approximately $142,000. 67.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on MNR shares. TheStreet lowered Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a report on Friday, February 15th. Zacks Investment Research raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Royal Bank of Canada started coverage on Monmouth R.E. Inv. in a report on Friday, March 29th. They set a “sector perform” rating and a $14.00 target price on the stock. ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Finally, Boenning Scattergood set a $18.00 target price on Monmouth R.E. Inv. and gave the stock a “buy” rating in a report on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $16.67.
Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported ($0.36) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.59). The firm had revenue of $39.15 million during the quarter, compared to the consensus estimate of $40.22 million. Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.27%. Equities analysts anticipate that Monmouth R.E. Inv. Corp. will post 0.94 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Wednesday, May 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.68 annualized dividend and a yield of 4.88%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 78.16%.
In other news, insider Umh Properties, Inc. purchased 19,365 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $12.60 per share, for a total transaction of $243,999.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Eugene W. Landy sold 20,000 shares of the business’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $13.34, for a total value of $266,800.00. Following the completion of the sale, the chairman now owns 918,733 shares of the company’s stock, valued at $12,255,898.22. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 22,713 shares of company stock valued at $287,689 and sold 29,000 shares valued at $396,800. Insiders own 4.02% of the company’s stock.
Monmouth R.E. Inv. Profile
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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