Brokerages Set Monmouth R.E. Inv. Corp. (NYSE:MNR) Target Price at $15.83

Monmouth R.E. Inv. Corp. (NYSE:MNR) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $15.83.

Several equities research analysts have weighed in on MNR shares. Zacks Investment Research cut shares of Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research report on Friday, November 29th. B. Riley restated a “buy” rating and issued a $17.00 price objective on shares of Monmouth R.E. Inv. in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. cut shares of Monmouth R.E. Inv. from a “neutral” rating to an “underweight” rating and set a $15.00 price objective for the company. in a research report on Wednesday, December 18th.

In other news, Chairman Eugene W. Landy sold 40,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $14.73, for a total transaction of $589,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Umh Properties, Inc. purchased 17,195 shares of the stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $14.86 per share, with a total value of $255,517.70. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 18,815 shares of company stock valued at $278,924. 4.02% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in MNR. Optimum Investment Advisors bought a new position in Monmouth R.E. Inv. in the third quarter valued at approximately $43,000. Tower Research Capital LLC TRC lifted its stake in Monmouth R.E. Inv. by 140.8% in the third quarter. Tower Research Capital LLC TRC now owns 3,533 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 2,066 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Monmouth R.E. Inv. in the second quarter valued at approximately $51,000. WealthStone Inc. bought a new position in Monmouth R.E. Inv. in the second quarter valued at approximately $58,000. Finally, Schroder Investment Management Group bought a new position in Monmouth R.E. Inv. in the second quarter valued at approximately $81,000. 67.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of Monmouth R.E. Inv. stock opened at $14.55 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 17.12 and a beta of 0.59. The company has a quick ratio of 9.16, a current ratio of 9.16 and a debt-to-equity ratio of 1.27. The company has a 50-day simple moving average of $14.78 and a 200 day simple moving average of $14.21. Monmouth R.E. Inv. has a 12-month low of $12.66 and a 12-month high of $15.50.

Monmouth R.E. Inv. (NYSE:MNR) last announced its earnings results on Monday, November 25th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.02. The business had revenue of $40.60 million during the quarter, compared to analysts’ expectations of $40.22 million. Monmouth R.E. Inv. had a net margin of 15.80% and a return on equity of 3.00%. On average, equities analysts anticipate that Monmouth R.E. Inv. will post 0.92 earnings per share for the current year.

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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Analyst Recommendations for Monmouth R.E. Inv. (NYSE:MNR)

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