Bard Associates Inc. lowered its holdings in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,605 shares of the real estate investment trust’s stock after selling 4,725 shares during the period. Bard Associates Inc. owned approximately 0.13% of Monmouth R.E. Inv. worth $1,663,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MNR. Private Advisor Group LLC purchased a new stake in shares of Monmouth R.E. Inv. in the 1st quarter valued at about $163,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Monmouth R.E. Inv. in the 1st quarter valued at about $169,000. Hsbc Holdings PLC purchased a new position in shares of Monmouth R.E. Inv. during the 1st quarter valued at about $173,000. Cubist Systematic Strategies LLC purchased a new position in shares of Monmouth R.E. Inv. during the 1st quarter valued at about $174,000. Finally, Amalgamated Bank purchased a new position in shares of Monmouth R.E. Inv. during the 2nd quarter valued at about $175,000. 66.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE MNR opened at $17.19 on Friday. The stock has a market cap of $1.39 billion, a P/E ratio of 22.62, a PEG ratio of 2.75 and a beta of 0.51. The company has a debt-to-equity ratio of 1.59, a quick ratio of 5.61 and a current ratio of 5.61. Monmouth R.E. Inv. Corp. has a 1-year low of $13.87 and a 1-year high of $18.45.
Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.10). The firm had revenue of $36.20 million for the quarter, compared to analysts’ expectations of $35.28 million. Monmouth R.E. Inv. had a net margin of 35.32% and a return on equity of 9.44%. equities analysts expect that Monmouth R.E. Inv. Corp. will post 0.9 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Investors of record on Wednesday, August 15th will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, August 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.96%. Monmouth R.E. Inv.’s dividend payout ratio is 89.47%.
A number of equities analysts recently weighed in on MNR shares. Boenning Scattergood reissued a “buy” rating and set a $19.00 price objective on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. Zacks Investment Research raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, May 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $18.60.
In other Monmouth R.E. Inv. news, Chairman Eugene W. Landy sold 8,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $16.84, for a total value of $134,720.00. Following the transaction, the chairman now directly owns 852,776 shares of the company’s stock, valued at approximately $14,360,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have purchased 4,305 shares of company stock worth $69,268. 4.63% of the stock is currently owned by insiders.
Monmouth R.E. Inv. Profile
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes 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 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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