Monmouth Real Estate Investment Co. (NYSE:MNR) Expected to Announce Quarterly Sales of $45.80 Million
Equity analysts expect Monmouth Real Estate Investment Co. (NYSE: MNR) to generate revenue of $ 45.80 million in the current quarter, reports Zacks. Three analysts have released estimates of Monmouth Real Estate Investment’s earnings, with the lowest revenue estimate being $ 43.97 million and the highest being $ 47.06 million. Monmouth Real Estate Investment generated revenues of USD 41.71 million in the same quarter last year, which is a positive growth rate of 9.8% over the previous year. The company is expected to release its next quarterly report on Wednesday, May 5th.
On average, analysts expect Monmouth Real Estate Investment to post total annual sales of USD 182.42 million for the current fiscal year, with estimates ranging between USD 175.89 million and USD 187.10 million. For the next fiscal year, analysts expect the company to post sales of $ 194.71 million, with estimates ranging from $ 175.36 million to $ 205.20 million. Zacks Investment Research’s sales calculations are based, on average, on a survey of research analysts covering Monmouth Real Estate Investment.
Monmouth Real Estate Investment (NYSE: MNR) last announced its quarterly results on Wednesday, February 3rd. The Real Estate Investment Trust reported earnings of $ 0.26 per share for the quarter, beating analysts’ 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 research reports. B. Riley raised his target price for Monmouth Real Estate Investment on Tuesday, December 22nd, in a research note from $ 18.00 to $ 20.00. Zacks Investment Research upgraded Monmouth Real Estate Investment from a “sell” rating to a “hold” rating in a report on Thursday, February 11th. Finally, BMO Capital Markets raised its target price for Monmouth Real Estate Investment from $ 17.00 to $ 18.00 in a report on Friday, January 15. One research analyst has rated the stock with a sell rating, two with a hold rating and three with a buy rating. The company has a consensus rating of “Hold” and a consensus target of $ 16.57.
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Hedge funds and other institutional investors recently bought and sold shares in the company. FMR LLC increased its stake in Monmouth Real Estate Investment by 132,971,100.0% in the first quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust valued at $ 17,526,000 after purchasing an additional 1,329,711 shares last quarter. Land & Buildings Investment Management LLC acquired a new position in shares of Monmouth Real Estate Investment valued at approximately $ 11,943,000 in the fourth quarter. BlackRock Inc. increased its stake in Monmouth Real Estate Investment by 3.9% in the fourth quarter. BlackRock Inc. now owns 9,445,810 shares in the real estate investment trust valued at $ 163,601,000, after acquiring an additional 355,332 shares last quarter. Heartland Advisors Inc. increased its stake in Monmouth Real Estate Investment by 56.5% in the fourth quarter. Heartland Advisors Inc. now owns 700,350 shares of the real estate investment trust valued at $ 12,130,000 after acquiring an additional 252,720 shares in the most recent quarter. Finally, Morgan Stanley increased its position in Monmouth Real Estate Investment by 62.5% in the fourth quarter. Morgan Stanley now owns 639,391 shares of the real estate investment trust valued at $ 11,073,000 after acquiring an additional 245,819 shares in the most recent quarter. 67.62% of the shares belong to institutional investors.
NYSE MNR opened at $ 18.23 on Wednesday. Monmouth Real Estate Investment has a fifty-two week low of $ 10.83 and a fifty-two week high of $ 18.86. The stock has a market cap of $ 1.79 billion, a P / E of -36.46, and a beta of 0.78. The company has a leverage ratio of 1.55, a current of 10.46, and a fast of 10.46. The company has a 50-day moving average price of $ 18.01 and a two-hundred-day moving average price of $ 16.52.
The company recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. A dividend of $ 0.18 per share will be paid to shareholders of record on Monday, May 17th. This equates to an annual dividend of $ 0.72 and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday April 14th. Monmouth Real Estate Investment’s payout ratio is currently 92.31%.
About Monmouth Real Estate Investment
Founded in 1968, Monmouth Real Estate Investment Corporation is one of the oldest public equity REITs in the world. We specialize in single-tenant, net rented industrial properties that are rented on a long-term basis, mainly to tenants with an investment grade rating. Monmouth Real Estate is a fully integrated and self-managed real estate company whose real estate portfolio consists of 121 properties totaling approximately 24.5 million square feet of rentable space and geographically diversified across 31 states.
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