Insider Selling: Monmouth R.E. Inv. Corp. (MNR) Director Sells 1,000 Shares of Stock

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Monmouth R.E. Inv. Corp. (NYSE:MNR) Director Steven B. Wolgin sold 1,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $24.00, for a total value of $24,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Monmouth R.E. Inv. stock traded up $0.02 during mid-day trading on Monday, reaching $13.06. 17,705 shares of the company were exchanged, compared to its average volume of 530,779. Monmouth R.E. Inv. Corp. has a 12 month low of $11.88 and a 12 month high of $17.51. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.46 and a quick ratio of 7.46. The firm has a market cap of $1.21 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.99 and a beta of 0.80.

Monmouth R.E. Inv. (NYSE:MNR) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported ($0.36) EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.59). Monmouth R.E. Inv. had a return on equity of 0.27% and a net margin of 1.33%. The company had revenue of $39.15 million for the quarter, compared to the consensus estimate of $40.22 million. Sell-side analysts expect that Monmouth R.E. Inv. Corp. will post 0.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, February 15th were paid a dividend of $0.17 per share. The ex-dividend date was Thursday, February 14th. This represents a $0.68 dividend on an annualized basis and a yield of 5.21%. Monmouth R.E. Inv.’s dividend payout ratio (DPR) is presently 78.16%.

MNR has been the topic of a number of recent research reports. Boenning Scattergood set a $19.00 price objective on Monmouth R.E. Inv. and gave the stock a “buy” rating in a research note on Thursday, November 29th. TheStreet lowered Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a research note on Friday, February 15th. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Finally, JPMorgan Chase & Co. initiated coverage on Monmouth R.E. Inv. in a research note on Friday, March 8th. They set a “neutral” rating and a $14.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Monmouth R.E. Inv. presently has an average rating of “Hold” and a consensus price target of $17.20.

A number of institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Monmouth R.E. Inv. by 20.7% in the 4th quarter. Geode Capital Management LLC now owns 946,558 shares of the real estate investment trust’s stock valued at $11,737,000 after purchasing an additional 162,120 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Monmouth R.E. Inv. by 9.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,151,543 shares of the real estate investment trust’s stock worth $14,279,000 after acquiring an additional 102,063 shares during the last quarter. Nordea Investment Management AB grew its position in Monmouth R.E. Inv. by 13.4% during the 4th quarter. Nordea Investment Management AB now owns 376,130 shares of the real estate investment trust’s stock worth $4,664,000 after acquiring an additional 44,505 shares during the last quarter. Amalgamated Bank bought a new stake in Monmouth R.E. Inv. during the 4th quarter worth $142,000. Finally, CI Investments Inc. bought a new stake in Monmouth R.E. Inv. during the 4th quarter worth $11,164,000. Hedge funds and other institutional investors own 68.37% of the company’s stock.

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About Monmouth R.E. Inv.

Monmouth Real Estate Investment Corp. engages in the ownership and management of real estate. It invests in single tenant, industrial buildings leased primarily to investment-grade tenants on long-term net leases. The company was founded by Eugene W. Landy in 1968 and is headquartered in Freehold, NJ.

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