Zacks Investment Research upgraded shares of Monmouth R.E. Inv. (NYSE:MNR) from a sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

MNR has been the topic of a number of other research reports. Boenning Scattergood reissued a buy rating and set a $17.50 price objective on shares of Monmouth R.E. Inv. in a report on Friday, May 10th. ValuEngine raised shares of Monmouth R.E. Inv. from a sell rating to a hold rating in a report on Friday, May 10th. Finally, BMO Capital Markets set a $15.00 price objective on shares of Monmouth R.E. Inv. and gave the stock a hold rating in a report on Friday, August 2nd. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Monmouth R.E. Inv. currently has an average rating of Hold and a consensus price target of $15.50.

Monmouth R.E. Inv. stock traded up $0.08 during trading on Wednesday, reaching $13.14. The stock had a trading volume of 10,625 shares, compared to its average volume of 399,810. The company has a debt-to-equity ratio of 1.34, a quick ratio of 6.64 and a current ratio of 6.64. Monmouth R.E. Inv. has a 52-week low of $11.88 and a 52-week high of $17.51. The firm has a 50 day moving average of $13.63. The stock has a market capitalization of $1.25 billion, a PE ratio of 15.10 and a beta of 0.65.

Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.25). Monmouth R.E. Inv. had a return on equity of 1.18% and a net margin of 6.08%. The company had revenue of $39.47 million for the quarter, compared to analyst estimates of $39.91 million. As a group, sell-side analysts expect that Monmouth R.E. Inv. will post 0.87 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.68 dividend on an annualized basis and a yield of 5.18%. Monmouth R.E. Inv.’s payout ratio is currently 78.16%.

Hedge funds have recently added to or reduced their stakes in the business. Buffington Mohr McNeal acquired a new position in shares of Monmouth R.E. Inv. in the 1st quarter valued at $36,000. Point72 Hong Kong Ltd acquired a new position in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $51,000. Kavar Capital Partners LLC acquired a new position in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $56,000. Advisor Group Inc. increased its holdings in shares of Monmouth R.E. Inv. by 45.7% in the 2nd quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 1,533 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new position in shares of Monmouth R.E. Inv. in the 2nd quarter valued at $68,000. 66.37% of the stock is currently owned by institutional investors.

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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