Monarch Partners Asset Management LLC Sells 462,333 Shares of Monmouth R.E. Inv. Corp. (MNR)

Monarch Partners Asset Management LLC cut its holdings in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 78.8% in the first quarter, HoldingsChannel reports. The firm owned 124,360 shares of the real estate investment trust’s stock after selling 462,333 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Monmouth R.E. Inv. were worth $1,639,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Parametric Portfolio Associates LLC lifted its position in shares of Monmouth R.E. Inv. by 4.8% during the first quarter. Parametric Portfolio Associates LLC now owns 135,881 shares of the real estate investment trust’s stock worth $1,791,000 after purchasing an additional 6,203 shares during the last quarter. Chatham Capital Group Inc. grew its stake in Monmouth R.E. Inv. by 41.8% in the first quarter. Chatham Capital Group Inc. now owns 126,194 shares of the real estate investment trust’s stock valued at $1,663,000 after purchasing an additional 37,181 shares during the last quarter. Wasatch Advisors Inc. grew its stake in Monmouth R.E. Inv. by 0.7% in the first quarter. Wasatch Advisors Inc. now owns 7,842,499 shares of the real estate investment trust’s stock valued at $103,364,000 after purchasing an additional 56,759 shares during the last quarter. Pecaut & CO. purchased a new position in Monmouth R.E. Inv. in the first quarter valued at about $337,000. Finally, New York State Common Retirement Fund grew its stake in Monmouth R.E. Inv. by 7.7% in the first quarter. New York State Common Retirement Fund now owns 156,359 shares of the real estate investment trust’s stock valued at $2,061,000 after purchasing an additional 11,200 shares during the last quarter. 67.06% of the stock is owned by hedge funds and other institutional investors.

In other Monmouth R.E. Inv. news, insider Umh Properties, Inc. purchased 19,365 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average price of $12.60 per share, for a total transaction of $243,999.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Eugene W. Landy sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $13.34, for a total value 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 disclosure for this sale can be found here. In the last 90 days, insiders have bought 22,709 shares of company stock worth $287,691 and have sold 37,000 shares worth $508,400. 4.02% of the stock is currently owned by insiders.

Several equities analysts have issued reports on the company. TheStreet lowered Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a research note on Friday, February 15th. ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. Zacks Investment Research lowered Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Royal Bank of Canada assumed coverage on Monmouth R.E. Inv. in a research note on Friday, March 29th. They issued 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 company a “buy” rating in a research note on Friday, February 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.30.

MNR traded up $0.05 on Friday, hitting $14.23. The company had a trading volume of 484,967 shares, compared to its average volume of 500,553. Monmouth R.E. Inv. Corp. has a 12-month low of $11.88 and a 12-month high of $17.51. The firm has a market capitalization of $1.34 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.22 and a beta of 0.79. The company has a debt-to-equity ratio of 1.37, a current ratio of 10.71 and a quick ratio of 10.71.

Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings results on Thursday, May 9th. The real estate investment trust reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. Monmouth R.E. Inv. had a return on equity of 2.99% and a net margin of 15.10%. The business had revenue of $39.31 million for the quarter, compared to analyst estimates of $40.31 million. As a group, sell-side analysts expect that Monmouth R.E. Inv. Corp. will post 0.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.78%. Monmouth R.E. Inv.’s payout ratio is 78.16%.

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Monmouth R.E. Inv. Company 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 21.8 million rentable square feet, geographically diversified across 30 states.

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Institutional Ownership by Quarter for Monmouth R.E. Inv. (NYSE:MNR)

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