Monmouth R.E. Inv. Corp. (NYSE:MNR) announced a quarterly dividend on Wednesday, July 1st, Zacks reports. Shareholders of record on Monday, August 17th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, September 15th. This represents a $0.68 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Friday, August 14th.
Monmouth R.E. Inv. has raised its dividend by an average of 18.3% per year over the last three years and has raised its dividend every year for the last 4 years. Monmouth R.E. Inv. has a dividend payout ratio of -121.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Monmouth R.E. Inv. to earn $0.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 73.9%.
Shares of MNR traded down $0.10 during trading hours on Friday, reaching $14.52. The stock had a trading volume of 285,245 shares, compared to its average volume of 676,556. The company has a debt-to-equity ratio of 1.47, a quick ratio of 12.20 and a current ratio of 12.20. Monmouth R.E. Inv. has a 12 month low of $8.42 and a 12 month high of $15.53. The stock has a market capitalization of $1.43 billion, a PE ratio of -27.92 and a beta of 0.78. The company's 50-day moving average is $13.34 and its two-hundred day moving average is $13.53.
Monmouth R.E. Inv. (NYSE:MNR) last issued its earnings results on Wednesday, May 6th. The real estate investment trust reported ($0.77) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.86). The firm had revenue of $41.71 million during the quarter, compared to analyst estimates of $42.34 million. Monmouth R.E. Inv. had a negative return on equity of 5.33% and a negative net margin of 20.80%. Equities analysts anticipate that Monmouth R.E. Inv. will post 0.84 earnings per share for the current fiscal year.
MNR has been the topic of several recent research reports. B. Riley lifted their target price on shares of Monmouth R.E. Inv. from $16.00 to $17.00 in a research report on Wednesday, June 10th. Zacks Investment Research lowered shares of Monmouth R.E. Inv. from a "buy" rating to a "hold" rating in a report on Thursday, May 21st. JPMorgan Chase & Co. decreased their price objective on Monmouth R.E. Inv. from $15.00 to $14.00 and set an "underweight" rating for the company in a report on Thursday, May 21st. Finally, ValuEngine downgraded Monmouth R.E. Inv. from a "hold" rating to a "sell" rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Monmouth R.E. Inv. currently has an average rating of "Hold" and an average target price of $15.08.
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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