Monthly Archives: October 2021

Legal & General Group Plc Decreases Holdings in Monmouth Real Estate Investment Co. (NYSE:MNR)

Legal & General Group Plc trimmed its holdings in shares of Monmouth Real Estate Investment Co. (NYSE:MNR) by 2.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 548,421 shares of the real estate investment trust’s stock after selling 16,267 shares during the period. Legal & General Group Plc’s holdings in Monmouth Real Estate Investment were worth $10,266,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in MNR. Water Island Capital LLC purchased a new position in Monmouth Real Estate Investment in the 2nd quarter valued at about $31,651,000. JPMorgan Chase & Co. boosted its position in Monmouth Real Estate Investment by 3.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 525,090 shares of the real estate investment trust’s stock valued at $9,830,000 after buying an additional 17,032 shares during the last quarter. Ergoteles LLC purchased a new position in Monmouth Real Estate Investment in the 2nd quarter valued at about $513,000. Palisade Capital Management LLC NJ boosted its position in Monmouth Real Estate Investment by 1.6% in the 2nd quarter. Palisade Capital Management LLC NJ now owns 184,409 shares of the real estate investment trust’s stock valued at $3,452,000 after buying an additional 2,974 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its stake in shares of Monmouth Real Estate Investment by 9.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 31,377 shares of the real estate investment trust’s stock valued at $587,000 after purchasing an additional 2,621 shares in the last quarter. 69.59% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on MNR. Royal Bank of Canada upped their target price on shares of Monmouth Real Estate Investment from $17.00 to $19.00 and gave the company a “sector perform” rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Monmouth Real Estate Investment from a “hold” rating to a “sell” rating in a research note on Thursday, September 16th. Finally, Compass Point upgraded shares of Monmouth Real Estate Investment from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $18.88 to $21.50 in a research note on Thursday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.93.

Shares of NYSE:MNR opened at $19.11 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 19.73 and a current ratio of 19.73. The company has a market cap of $1.88 billion, a PE ratio of 29.40 and a beta of 0.79. Monmouth Real Estate Investment Co. has a 52 week low of $13.68 and a 52 week high of $19.76. The firm has a 50 day simple moving average of $18.93 and a 200 day simple moving average of $18.83.

Monmouth Real Estate Investment (NYSE:MNR) last released its earnings results on Sunday, August 1st. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. Monmouth Real Estate Investment had a net margin of 54.23% and a return on equity of 16.85%. On average, equities analysts predict that Monmouth Real Estate Investment Co. will post 0.83 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Monday, November 15th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.77%. Monmouth Real Estate Investment’s dividend payout ratio is currently 92.31%.

Monmouth Real Estate Investment Company Profile

Monmouth Real Estate Investment Corp. operates as a real estate investment trust. The firm engages in the ownership and management of real estate. It invests in single tenant, industrial buildings leased to investment-grade tenants on long-term net leases. The company was founded by Eugene W. Landy in 1968 and is headquartered in Holmdel, NJ.