Wall Street brokerages expect that Monmouth Real Estate Investment Co. (NYSE:MNR) will report sales of $44.86 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Monmouth Real Estate Investment’s earnings. The highest sales estimate is $47.03 million and the lowest is $42.68 million. Monmouth Real Estate Investment reported sales of $41.71 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.6%. The firm is expected to report its next earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that Monmouth Real Estate Investment will report full-year sales of $180.13 million for the current year, with estimates ranging from $171.26 million to $189.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $188.33 million, with estimates ranging from $171.24 million to $205.41 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Monmouth Real Estate Investment.
Monmouth Real Estate Investment (NYSE:MNR) last released its quarterly earnings data on Wednesday, February 3rd. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.19. Monmouth Real Estate Investment had a negative return on equity of 3.69% and a negative net margin of 13.19%.
MNR has been the subject of a number of recent analyst reports. BMO Capital Markets raised their price objective on Monmouth Real Estate Investment from $17.00 to $18.00 in a research report on Friday, January 15th. B. Riley lifted their price target on Monmouth Real Estate Investment from $18.00 to $20.00 in a report on Tuesday, December 22nd. Zacks Investment Research cut Monmouth Real Estate Investment from a “hold” rating to a “sell” rating in a report on Tuesday, December 1st. Berenberg Bank assumed coverage on Monmouth Real Estate Investment in a report on Wednesday, October 28th. They set a “buy” rating and a $17.00 price target for the company. Finally, National Securities assumed coverage on Monmouth Real Estate Investment in a report on Monday, October 26th. They set a “buy” rating and a $18.00 price target for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Monmouth Real Estate Investment has an average rating of “Hold” and an average target price of $16.57.
MNR opened at $18.54 on Tuesday. Monmouth Real Estate Investment has a 12-month low of $8.42 and a 12-month high of $18.66. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -37.08 and a beta of 0.78. The business has a 50 day moving average of $17.34 and a 200-day moving average of $15.22. The company has a quick ratio of 10.46, a current ratio of 10.46 and a debt-to-equity ratio of 1.55.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Tuesday, February 16th will be issued a $0.18 dividend. The ex-dividend date is Friday, February 12th. This is a boost from Monmouth Real Estate Investment’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 3.88%. Monmouth Real Estate Investment’s payout ratio is currently 87.18%.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Crescent Capital Consulting LLC acquired a new position in Monmouth Real Estate Investment in the 4th quarter valued at $52,000. Addison Advisors LLC acquired a new position in Monmouth Real Estate Investment in the 4th quarter valued at $69,000. BTC Capital Management Inc. acquired a new position in Monmouth Real Estate Investment in the 3rd quarter valued at $166,000. Eqis Capital Management Inc. raised its holdings in Monmouth Real Estate Investment by 8.1% in the 3rd quarter. Eqis Capital Management Inc. now owns 12,278 shares of the real estate investment trust’s stock valued at $170,000 after acquiring an additional 916 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in Monmouth Real Estate Investment in the 3rd quarter valued at $179,000. 67.62% of the stock is owned by hedge funds and other institutional investors.
About Monmouth Real Estate Investment
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 119 properties containing a total of approximately 23.4 million rentable square feet, geographically diversified across 31 states.
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