Short Interest in Monmouth Real Estate Investment Co. (NYSE:MNR) Grows By 21.7%
Monmouth Real Estate Investment Co. (NYSE: MNR) was targeted to significantly increase its short positions in June. As of June 15, there were short interests totaling 2,240,000 shares, an increase of 21.7% compared to May 31 of a total of 1,840,000 shares. With an average trading volume of 503,900 shares, the day-to-cover ratio is currently 4.4 days. Approximately 2.4% of the shares in the stock will be sold short.
Several research firms have recently looked at MNR. Janney Montgomery Scott downgraded Monmouth Real Estate Investment from a “Buy” rating to a “Neutral” rating in a research report on Friday June 4th. Berenberg Bank downgraded Monmouth Real Estate Investment from a “buy” rating to a “hold” rating and set a price target of $ 20.00 on the stock. in a research report on Thursday May 27th. Four research analysts for stocks have given the stock a hold rating and one has given the company a buy rating. The stock has a consensus rating of “Hold” and a consensus price target of $ 17.50.
Monmouth Real Estate Investment stock rose $ 0.05 during Friday’s trading to hit $ 18.75. 337,098 shares in the company were exchanged compared to an average volume of 606,924 shares. Monmouth Real Estate Investment has a 52-week low of $ 13.01 and a 52-week high of $ 19.76. The company has a market cap of $ 1.84 billion, a P / E of 24.04, and a beta of 0.80. The company has a quick ratio of 7.86, a current ratio of 7.86, and debt of 1.60. The company’s 50-day moving average price is $ 18.98.
Monmouth Real Estate Investment (NYSE: MNR) last announced its quarterly earnings data on Wednesday May 5th. The Real Estate Investment Trust reported $ 0.26 EPS for the quarter, beating Zacks’ consensus estimate of $ 0.06 by $ 0.20. Monmouth Real Estate Investment had a return on equity of 18.16% and a net margin of 59.97%. Research analysts for stocks predict that Monmouth Real Estate Investment will achieve earnings per share of 0.83 for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Investors registered on Monday, August 16, will receive a dividend of $ 0.18 per share. The ex-dividend date is Friday, August 13th. This equates to a dividend of $ 0.72 on an annual basis and a yield of 3.84%. Monmouth Real Estate Investment’s payout ratio is 92.31%.
Institutional investors recently changed their positions in the stock. 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 valued at $ 12,130,000 after acquiring an additional 252,720 shares last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Monmouth Real Estate Investment worth $ 2,290,000 in the fourth quarter. Aperio Group LLC increased its stake in Monmouth Real Estate Investment by 20.9% in the fourth quarter. Aperio Group LLC now owns 39,563 shares of the real estate investment trust valued at $ 686,000 after acquiring an additional 6,831 shares last quarter. Cerity Partners LLC acquired a new stake in Monmouth Real Estate Investment worth $ 198,000 in the fourth quarter. Finally, Bardin Hill Management Partners LP acquired a new stake in Monmouth Real Estate Investment worth $ 108,000 in the first quarter. Hedge funds and other institutional investors own 65.36% of the company’s stock.
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 leasing industrial properties with long-term rental agreements, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company whose real estate portfolio consists of 121 properties with a total of approximately 24.5 million lettable square meters and is geographically spread across 31 states.
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