Schroder Investment Management Group Invests $81,000 in Monmouth R.E. Inv. Corp. (NYSE:MNR)
Schroder Investment Management Group acquired a new stake in Monmouth R.E. Inv. Corp. (NYSE:MNR) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,958 shares of the real estate investment trust’s stock, valued at approximately $81,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Monmouth R.E. Inv. by 132,971,100.0% during the first quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust’s stock worth $17,526,000 after purchasing an additional 1,329,711 shares during the last quarter. Kennedy Capital Management Inc. acquired a new stake in Monmouth R.E. Inv. in the 1st quarter valued at about $9,434,000. Wasatch Advisors Inc. grew its position in shares of Monmouth R.E. Inv. by 3.9% in the second quarter. Wasatch Advisors Inc. now owns 8,149,487 shares of the real estate investment trust’s stock valued at $110,426,000 after purchasing an additional 306,988 shares during the last quarter. Granite Investment Partners LLC increased its position in Monmouth R.E. Inv. by 17.3% during the first quarter. Granite Investment Partners LLC now owns 1,057,535 shares of the real estate investment trust’s stock worth $13,938,000 after buying an additional 156,003 shares in the last quarter. Finally, Gamco Investors INC. ET AL purchased a new stake in Monmouth R.E. Inv. during the 2nd quarter worth about $1,450,000. Institutional investors own 68.53% of the company’s stock.
MNR stock traded up $0.10 during mid-day trading on Wednesday, reaching $14.08. 5,831 shares of the stock traded hands, compared to its average volume of 406,701. The stock’s fifty day moving average is $13.37 and its 200-day moving average is $13.57. Monmouth R.E. Inv. Corp. has a 52-week low of $11.88 and a 52-week high of $17.42. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 1.34. The company has a market cap of $1.30 billion, a P/E ratio of 16.15 and a beta of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders 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 annualized dividend and a dividend yield of 4.83%. Monmouth R.E. Inv.’s payout ratio is 78.16%.
A number of research firms have recently commented on MNR. BMO Capital Markets set a $15.00 price objective on shares of Monmouth R.E. Inv. and gave the company a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research cut Monmouth R.E. Inv. from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Compass Point initiated coverage on shares of Monmouth R.E. Inv. in a research note on Friday, September 6th. They issued a “buy” rating and a $16.50 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.67.
In other news, Chairman Eugene W. Landy sold 8,000 shares of Monmouth R.E. Inv. stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $13.02, for a total transaction of $104,160.00. Following the sale, the chairman now directly owns 895,219 shares in the company, valued at approximately $11,655,751.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders acquired a total of 6,142 shares of company stock valued at $80,806 in the last quarter. Corporate insiders own 4.02% of the company’s stock.
About Monmouth R.E. Inv.
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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