AXA boosted its stake in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 13.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,700 shares of the real estate investment trust’s stock after buying an additional 31,300 shares during the quarter. AXA owned 0.28% of Monmouth R.E. Inv. worth $3,573,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of MNR. Kavar Capital Partners LLC purchased a new stake in shares of Monmouth R.E. Inv. in the second quarter valued at about $56,000. Advisor Group Inc. lifted its stake in shares of Monmouth R.E. Inv. by 45.7% during the second quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,533 shares during the period. Capital Investment Advisory Services LLC purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $68,000. Schroder Investment Management Group purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $81,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Monmouth R.E. Inv. during the second quarter valued at approximately $119,000. Institutional investors own 68.47% of the company’s stock.
MNR has been the topic of several recent analyst reports. Compass Point initiated coverage on shares of Monmouth R.E. Inv. in a research note on Friday, September 6th. They set a “buy” rating and a $16.50 price objective on the stock. Zacks Investment Research lowered shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BMO Capital Markets set a $15.00 price target on shares of Monmouth R.E. Inv. and gave the stock a “hold” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $15.40.
MNR traded up $0.07 during trading hours on Friday, reaching $14.45. 216,665 shares of the stock traded hands, compared to its average volume of 363,299. The firm’s fifty day simple moving average is $13.94 and its two-hundred day simple moving average is $13.73. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 16.61 and a beta of 0.63. Monmouth R.E. Inv. Corp. has a fifty-two week low of $11.88 and a fifty-two week high of $15.77. The company has a debt-to-equity ratio of 1.34, a current ratio of 6.64 and a quick ratio of 6.64.
Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The company had revenue of $39.47 million for the quarter, compared to the consensus estimate of $39.91 million. On average, research analysts predict that Monmouth R.E. Inv. Corp. will post 0.87 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.17 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.71%. Monmouth R.E. Inv.’s payout ratio is currently 78.16%.
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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