Monmouth R.E. Inv. (NYSE:MNR) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a sell rating to a hold rating in a report released on Wednesday, Zacks.com reports.

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

Other equities research analysts have also issued research reports about the company. Boenning Scattergood restated a buy rating and set a $17.50 price objective on shares of Monmouth R.E. Inv. in a research report on Friday, May 10th. BMO Capital Markets set a $15.00 price objective on Monmouth R.E. Inv. and gave the stock a hold rating in a research report on Friday, August 2nd. Finally, ValuEngine upgraded Monmouth R.E. Inv. from a sell rating to a hold rating in a research report on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $15.50.

Shares of MNR stock opened at $13.14 on Wednesday. The firm 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. has a twelve month low of $11.88 and a twelve month high of $17.51. The company has a quick ratio of 6.64, a current ratio of 6.64 and a debt-to-equity ratio of 1.34. The stock’s fifty day simple moving average is $13.62 and its 200 day simple moving average is $13.63.

Monmouth R.E. Inv. (NYSE:MNR) last issued its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.25). The firm had revenue of $39.47 million for the quarter, compared to the consensus estimate 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 research analysts expect that Monmouth R.E. Inv. will post 0.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders 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 dividend payout ratio (DPR) is presently 78.16%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ingalls & Snyder LLC grew its position in shares of Monmouth R.E. Inv. by 5.1% in the 2nd quarter. Ingalls & Snyder LLC now owns 107,555 shares of the real estate investment trust’s stock valued at $1,457,000 after buying an additional 5,196 shares during the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of Monmouth R.E. Inv. in the 1st quarter valued at about $211,000. Wedbush Securities Inc. grew its position in shares of Monmouth R.E. Inv. by 56.6% in the 1st quarter. Wedbush Securities Inc. now owns 47,656 shares of the real estate investment trust’s stock valued at $628,000 after buying an additional 17,231 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Monmouth R.E. Inv. by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,151,543 shares of the real estate investment trust’s stock valued at $14,279,000 after buying an additional 102,063 shares during the last quarter. Finally, First Allied Advisory Services Inc. grew its position in shares of Monmouth R.E. Inv. by 9.5% in the 1st quarter. First Allied Advisory Services Inc. now owns 21,093 shares of the real estate investment trust’s stock valued at $279,000 after buying an additional 1,825 shares during the last quarter. Hedge funds and other institutional investors own 66.37% of the company’s stock.

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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