Monmouth Real Estate Investment Co. (NYSE:MNR) to Post FY2021 Earnings of $0.79 Per Share, B. Riley Forecasts

Wednesday, September 15, 2021 | MarketBeat

Monmouth Real Estate Investment Co. (NYSE:MNR) - Equities researchers at B. Riley cut their FY2021 earnings estimates for shares of Monmouth Real Estate Investment in a research report issued on Tuesday, September 14th. B. Riley analyst C. Kucera now expects that the real estate investment trust will earn $0.79 per share for the year, down from their prior estimate of $0.85. B. Riley also issued estimates for Monmouth Real Estate Investment's Q4 2021 earnings at $0.21 EPS, Q1 2022 earnings at $0.22 EPS, Q2 2022 earnings at $0.23 EPS, Q4 2022 earnings at $0.24 EPS and FY2022 earnings at $0.93 EPS. Monmouth Real Estate Investment (NYSE:MNR) last issued its quarterly earnings results on Sunday, August 1st. The real estate investment trust reported $0.14 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.08 by $0.06. Monmouth Real Estate Investment had a return on equity of 16.85% and a net margin of 54.23%.

A number of other analysts have also recently issued reports on the company. Janney Montgomery Scott cut Monmouth Real Estate Investment from a "buy" rating to a "neutral" rating in a research report on Friday, June 4th. Compass Point raised Monmouth Real Estate Investment from a "neutral" rating to a "buy" rating and raised their price objective for the company from $18.88 to $21.50 in a research note on Thursday, July 22nd. Royal Bank of Canada raised their price target on Monmouth Real Estate Investment from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research report on Wednesday, September 1st. They noted that the move was a valuation call. Finally, Berenberg Bank cut Monmouth Real Estate Investment from a "buy" rating to a "hold" rating and set a $20.00 target price on the stock. in a report on Thursday, May 27th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $18.93.

MNR stock opened at $18.97 on Wednesday. The company has a current ratio of 19.73, a quick ratio of 19.73 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $1.86 billion, a PE ratio of 29.19 and a beta of 0.79. Monmouth Real Estate Investment has a 12-month low of $13.01 and a 12-month high of $19.76. The business's fifty day moving average price is $18.96 and its 200 day moving average price is $18.70.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Investors of record on Monday, August 16th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date is Friday, August 13th. Monmouth Real Estate Investment's dividend payout ratio is presently 92.31%.

Hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. lifted its stake in shares of Monmouth Real Estate Investment by 6.5% in the second quarter. Envestnet Asset Management Inc. now owns 14,351 shares of the real estate investment trust's stock valued at $269,000 after buying an additional 872 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Monmouth Real Estate Investment by 0.9% in the second quarter. New York State Common Retirement Fund now owns 98,558 shares of the real estate investment trust's stock valued at $1,845,000 after buying an additional 884 shares during the period. Wintrust Investments LLC lifted its stake in shares of Monmouth Real Estate Investment by 6.4% in the first quarter. Wintrust Investments LLC now owns 16,376 shares of the real estate investment trust's stock valued at $290,000 after buying an additional 980 shares during the period. Oppenheimer & Co. Inc. lifted its stake in shares of Monmouth Real Estate Investment by 2.2% in the first quarter. Oppenheimer & Co. Inc. now owns 46,194 shares of the real estate investment trust's stock valued at $817,000 after buying an additional 1,004 shares during the period. Finally, Amalgamated Bank lifted its stake in shares of Monmouth Real Estate Investment by 9.0% in the second quarter. Amalgamated Bank now owns 14,037 shares of the real estate investment trust's stock valued at $263,000 after buying an additional 1,158 shares during the period. Institutional investors own 69.59% of the company's stock.

About Monmouth Real Estate Investment

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

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Earnings History and Estimates for Monmouth Real Estate Investment (NYSE:MNR)

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