Zacks: Brokerages Expect Monmouth Real Estate Investment Co. (NYSE:MNR) Will Announce Quarterly Sales of $45.93 Million

Last updated on Sunday, July 25, 2021 | 2021 MarketBeat

Wall Street analysts forecast that Monmouth Real Estate Investment Co. (NYSE:MNR) will post sales of $45.93 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Monmouth Real Estate Investment's earnings, with the lowest sales estimate coming in at $43.98 million and the highest estimate coming in at $47.25 million. Monmouth Real Estate Investment posted sales of $41.78 million during the same quarter last year, which suggests a positive year over year growth rate of 9.9%. The firm is scheduled to report its next earnings report on Tuesday, August 3rd.

On average, analysts expect that Monmouth Real Estate Investment will report full-year sales of $182.42 million for the current year, with estimates ranging from $175.89 million to $187.10 million. For the next financial year, analysts anticipate that the firm will post 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 that provide coverage for Monmouth Real Estate Investment.

Monmouth Real Estate Investment (NYSE:MNR) last issued its earnings results on Wednesday, May 5th. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.06 by $0.20. Monmouth Real Estate Investment had a return on equity of 18.16% and a net margin of 59.97%.

Several research analysts have recently issued reports on MNR shares. Berenberg Bank lowered Monmouth Real Estate Investment from a "buy" rating to a "hold" rating and set a $20.00 price target on the stock. in a research report on Thursday, May 27th. Compass Point upgraded shares of Monmouth Real Estate Investment from a "neutral" rating to a "buy" rating and upped their price target for the stock from $18.88 to $21.50 in a report on Thursday. Finally, Janney Montgomery Scott cut shares of Monmouth Real Estate Investment from a "buy" rating to a "neutral" rating in a research note on Friday, June 4th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Monmouth Real Estate Investment has a consensus rating of "Hold" and an average target price of $18.07.

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Monmouth Real Estate Investment by 132,971,100.0% in the 1st quarter. FMR LLC now owns 1,329,712 shares of the real estate investment trust's stock worth $17,526,000 after acquiring an additional 1,329,711 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Monmouth Real Estate Investment by 1.1% in the 4th quarter. Rhumbline Advisers now owns 140,803 shares of the real estate investment trust's stock worth $2,439,000 after acquiring an additional 1,517 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Monmouth Real Estate Investment by 4.8% in the 4th quarter. Northern Trust Corp now owns 2,061,649 shares of the real estate investment trust's stock worth $35,709,000 after acquiring an additional 93,539 shares during the last quarter. Credit Suisse AG raised its holdings in shares of Monmouth Real Estate Investment by 25.4% in the 4th quarter. Credit Suisse AG now owns 194,027 shares of the real estate investment trust's stock worth $3,360,000 after acquiring an additional 39,284 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in shares of Monmouth Real Estate Investment by 48.9% in the 4th quarter. LPL Financial LLC now owns 78,047 shares of the real estate investment trust's stock worth $1,352,000 after acquiring an additional 25,619 shares during the last quarter. 65.36% of the stock is currently owned by institutional investors.

Shares of MNR opened at $18.85 on Friday. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 25.13 and a beta of 0.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 7.86 and a quick ratio of 7.86. The company has a fifty day moving average price of $19.05. Monmouth Real Estate Investment has a 52 week low of $13.01 and a 52 week high of $19.76.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Monday, August 16th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, August 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.82%. Monmouth Real Estate Investment's dividend payout ratio (DPR) is presently 92.31%.

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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