Monmouth R.E. Inv. Corp. (NYSE:MNR) Position Cut by Redmond Asset Management LLC

Redmond Asset Management LLC cut its stake in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 1.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 357,145 shares of the real estate investment trust’s stock after selling 4,606 shares during the period. Monmouth R.E. Inv. accounts for about 2.1% of Redmond Asset Management LLC’s portfolio, making the stock its 8th biggest position. Redmond Asset Management LLC’s holdings in Monmouth R.E. Inv. were worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of MNR. Stephens Inc. AR boosted its position in Monmouth R.E. Inv. by 10.0% during the 2nd quarter. Stephens Inc. AR now owns 36,154 shares of the real estate investment trust’s stock valued at $490,000 after acquiring an additional 3,300 shares in the last quarter. Silver Lake Advisory LLC boosted its position in Monmouth R.E. Inv. by 2.3% during the 2nd quarter. Silver Lake Advisory LLC now owns 153,514 shares of the real estate investment trust’s stock valued at $2,080,000 after acquiring an additional 3,506 shares in the last quarter. Wedbush Securities Inc. boosted its position in Monmouth R.E. Inv. by 16.2% during the 2nd quarter. Wedbush Securities Inc. now owns 55,354 shares of the real estate investment trust’s stock valued at $750,000 after acquiring an additional 7,698 shares in the last quarter. Stevens Capital Management LP bought a new stake in Monmouth R.E. Inv. during the 2nd quarter valued at $623,000. Finally, Advisor Group Inc. boosted its position in Monmouth R.E. Inv. by 45.7% during the 2nd quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,533 shares in the last quarter. Institutional investors and hedge funds own 66.37% of the company’s stock.

Shares of Monmouth R.E. Inv. stock traded up $0.08 during trading on Thursday, reaching $13.14. The company’s stock had a trading volume of 10,925 shares, compared to its average volume of 399,810. The company has a debt-to-equity ratio of 1.34, a quick ratio of 6.64 and a current ratio of 6.64. The stock has a market capitalization of $1.25 billion, a P/E ratio of 15.10 and a beta of 0.65. Monmouth R.E. Inv. Corp. has a 1-year low of $11.88 and a 1-year high of $17.51. The company has a 50-day moving average price of $13.63.

Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.25). The business had revenue of $39.47 million during the quarter, compared to analyst estimates of $39.91 million. Monmouth R.E. Inv. had a return on equity of 1.18% and a net margin of 6.08%. As a group, equities analysts predict that Monmouth R.E. Inv. Corp. will post 0.87 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, August 15th will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 5.18%. Monmouth R.E. Inv.’s payout ratio is 78.16%.

Several analysts have issued reports on MNR shares. Boenning Scattergood reaffirmed a “buy” rating and set a $17.50 target price on shares of Monmouth R.E. Inv. in a research report on Friday, May 10th. BMO Capital Markets set a $15.00 target price on Monmouth R.E. Inv. and gave the company a “hold” rating in a research report on Friday, August 2nd. Zacks Investment Research raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research report on Friday, May 10th. Five equities research analysts have rated the stock with 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 $15.50.

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 21.8 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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