Equities analysts expect that Monmouth Real Estate Investment Co. (NYSE:MNR) will report sales of $45.80 million for the current quarter, according to Zacks. Three analysts have issued estimates for Monmouth Real Estate Investment's earnings, with the highest sales estimate coming in at $47.06 million and the lowest estimate coming in at $43.97 million. Monmouth Real Estate Investment posted sales of $41.71 million in the same quarter last year, which suggests a positive year over year growth rate of 9.8%. The company is scheduled to report its next earnings results on Wednesday, May 5th.
On average, analysts expect that Monmouth Real Estate Investment will report full-year sales of $182.42 million for the current financial year, with estimates ranging from $175.89 million to $187.10 million. For the next year, analysts anticipate that the firm will report sales of $194.71 million, with estimates ranging from $175.36 million to $205.20 million. Zacks' sales calculations are an average based on a survey of research firms that cover Monmouth Real Estate Investment.
Monmouth Real Estate Investment (NYSE:MNR) last released its quarterly earnings data on Wednesday, February 3rd. The real estate investment trust reported $0.26 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.07 by $0.19. Monmouth Real Estate Investment had a negative return on equity of 3.69% and a negative net margin of 13.19%.
A number of brokerages recently issued reports on MNR. B. Riley raised their price objective on shares of Monmouth Real Estate Investment from $18.00 to $20.00 in a report on Tuesday, December 22nd. BMO Capital Markets lifted their price target on shares of Monmouth Real Estate Investment from $17.00 to $18.00 in a report on Friday, January 15th. Finally, Zacks Investment Research raised shares of Monmouth Real Estate Investment from a "sell" rating to a "hold" rating in a research note on Thursday, February 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Monmouth Real Estate Investment presently has a consensus rating of "Hold" and an average price target of $16.57.
NYSE:MNR opened at $18.05 on Friday. The stock has a market cap of $1.77 billion, a P/E ratio of -36.10 and a beta of 0.78. The company has a current ratio of 10.46, a quick ratio of 10.46 and a debt-to-equity ratio of 1.55. The stock's 50-day moving average is $17.90 and its 200-day moving average is $16.14. Monmouth Real Estate Investment has a 1-year low of $10.02 and a 1-year high of $18.86.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Tuesday, February 16th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, February 12th. This is a boost from Monmouth Real Estate Investment's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 3.99%. Monmouth Real Estate Investment's dividend payout ratio is 92.31%.
Hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new stake in Monmouth Real Estate Investment during the 4th quarter worth about $37,000. Crescent Capital Consulting LLC acquired a new stake in Monmouth Real Estate Investment during the fourth quarter worth approximately $52,000. Van ECK Associates Corp increased its holdings in Monmouth Real Estate Investment by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 3,814 shares of the real estate investment trust's stock worth $66,000 after purchasing an additional 951 shares in the last quarter. Addison Advisors LLC acquired a new position in Monmouth Real Estate Investment in the fourth quarter valued at approximately $69,000. Finally, Cerity Partners LLC bought a new position in shares of Monmouth Real Estate Investment during the 4th quarter worth approximately $198,000. Institutional investors and hedge funds own 67.62% of the company's stock.
About Monmouth Real Estate Investment
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 121 properties, containing a total of approximately 24.5 million rentable square feet, geographically diversified across 31 states.
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