Monmouth R.E. Inv. Corp. (NYSE:MNR) was the target of a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 1,380,000 shares, a decrease of 18.8% from the September 15th total of 1,700,000 shares. Approximately 1.5% of the company's stock are sold short. Based on an average trading volume of 422,300 shares, the days-to-cover ratio is currently 3.3 days.
A number of research analysts have recently commented on MNR shares. Zacks Investment Research downgraded Monmouth R.E. Inv. from a "hold" rating to a "sell" rating in a report on Tuesday, October 6th. Royal Bank of Canada increased their price objective on Monmouth R.E. Inv. from $12.00 to $13.00 and gave the company a "sector perform" rating in a report on Monday, August 24th. Finally, ValuEngine upgraded Monmouth R.E. Inv. from a "sell" rating to a "hold" rating in a report on Friday, September 11th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and a consensus price target of $14.50.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Monmouth R.E. Inv. 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 valued at $17,526,000 after purchasing an additional 1,329,711 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Monmouth R.E. Inv. by 74.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,050,421 shares of the real estate investment trust's stock valued at $15,221,000 after purchasing an additional 448,269 shares during the last quarter. Heartland Advisors Inc. purchased a new position in shares of Monmouth R.E. Inv. in the 2nd quarter valued at approximately $6,474,000. Wasatch Advisors Inc. grew its stake in shares of Monmouth R.E. Inv. by 3.1% in the 2nd quarter. Wasatch Advisors Inc. now owns 9,387,423 shares of the real estate investment trust's stock valued at $136,024,000 after purchasing an additional 279,056 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Monmouth R.E. Inv. by 9.9% in the 1st quarter. Geode Capital Management LLC now owns 1,356,902 shares of the real estate investment trust's stock valued at $16,350,000 after purchasing an additional 122,178 shares during the last quarter. Hedge funds and other institutional investors own 70.63% of the company's stock.
NYSE:MNR traded down $0.15 during mid-day trading on Friday, reaching $14.22. 286,803 shares of the stock were exchanged, compared to its average volume of 518,272. The company has a 50 day simple moving average of $14.12 and a 200-day simple moving average of $13.60. The stock has a market capitalization of $1.39 billion, a P/E ratio of -64.64 and a beta of 0.76. The company has a quick ratio of 6.49, a current ratio of 6.49 and a debt-to-equity ratio of 1.50. Monmouth R.E. Inv. has a 1 year low of $8.42 and a 1 year high of $15.53.
Monmouth R.E. Inv. (NYSE:MNR) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.05. Monmouth R.E. Inv. had a return on equity of 0.41% and a net margin of 1.56%. As a group, research analysts predict that Monmouth R.E. Inv. will post 0.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.68 dividend on an annualized basis and a yield of 4.78%. Monmouth R.E. Inv.'s dividend payout ratio is presently 80.00%.
Monmouth R.E. Inv. Company Profile
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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