Monmouth R.E. Inv. Corp. (NYSE:MNR) announced a quarterly dividend on Wednesday, January 16th, Zacks reports. Investors of record on Friday, February 15th will be given a dividend of 0.17 per share by the real estate investment trust on Friday, March 15th. This represents a $0.68 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, February 14th.
Monmouth R.E. Inv. has increased its dividend by an average of 3.7% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Monmouth R.E. Inv. has a dividend payout ratio of 75.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Monmouth R.E. Inv. to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 59.6%.
Shares of NYSE MNR traded down $0.06 during mid-day trading on Friday, hitting $13.80. 860,356 shares of the stock traded hands, compared to its average volume of 556,132. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 1.76. Monmouth R.E. Inv. has a twelve month low of $11.88 and a twelve month high of $17.51. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.04 and a beta of 0.83.
Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings data on Wednesday, November 28th. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.15). Monmouth R.E. Inv. had a net margin of 1.33% and a return on equity of 0.39%. The firm had revenue of $36.60 million for the quarter, compared to analyst estimates of $38.18 million. On average, research analysts anticipate that Monmouth R.E. Inv. will post 0.97 earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. ValuEngine raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. Zacks Investment Research raised Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Finally, Boenning Scattergood set a $19.00 price objective on Monmouth R.E. Inv. and gave the company a “buy” rating in a report on Thursday, November 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $18.00.
In related news, insider Umh Properties, Inc. bought 11,958 shares of the business’s stock in a transaction on Monday, December 17th. The shares were purchased at an average cost of $13.72 per share, with a total value of $164,063.76. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Michael P. Landy bought 2,000 shares of the business’s stock in a transaction on Friday, November 30th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $27,400.00. Following the completion of the acquisition, the insider now directly owns 407,747 shares in the company, valued at approximately $5,586,133.90. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 16,674 shares of company stock worth $228,264. 4.63% of the stock is currently owned by company insiders.
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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 112 properties containing a total of approximately 21.5 million rentable square feet, geographically diversified across 30 states.
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