Monmouth Real Estate Investment Co. (NYSE:MNR) was the target of a large decline in short interest during the month of October. As of October 29th, there was short interest totalling 3,010,000 shares, a decline of 15.7% from the October 14th total of 3,570,000 shares. Approximately 3.4% of the company's stock are short sold. Based on an average daily volume of 1,040,000 shares, the short-interest ratio is currently 2.9 days.
Large investors have recently bought and sold shares of the stock. Baldwin Brothers Inc. MA bought a new stake in shares of Monmouth Real Estate Investment in the 2nd quarter worth approximately $37,000. US Bancorp DE raised its holdings in Monmouth Real Estate Investment by 25.5% during the 3rd quarter. US Bancorp DE now owns 2,508 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 510 shares during the period. Van ECK Associates Corp raised its holdings in Monmouth Real Estate Investment by 15.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,442 shares of the real estate investment trust's stock valued at $83,000 after acquiring an additional 600 shares during the period. Schroder Investment Management Group bought a new stake in Monmouth Real Estate Investment during the 1st quarter valued at $93,000. Finally, USA Financial Portformulas Corp purchased a new position in shares of Monmouth Real Estate Investment during the 3rd quarter valued at $158,000. 61.32% of the stock is currently owned by institutional investors.
Shares of NYSE:MNR traded down $0.01 during mid-day trading on Monday, reaching $20.84. The company had a trading volume of 935 shares, compared to its average volume of 684,798. The company has a current ratio of 8.43, a quick ratio of 8.43 and a debt-to-equity ratio of 1.99. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 26.39 and a beta of 0.76. The company's 50-day moving average price is $19.40 and its 200-day moving average price is $19.15. Monmouth Real Estate Investment has a one year low of $14.35 and a one year high of $21.14.
Monmouth Real Estate Investment (NYSE:MNR) last posted its quarterly earnings results on Friday, November 12th. The real estate investment trust reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.33). Monmouth Real Estate Investment had a return on equity of 13.70% and a net margin of 42.69%. On average, research analysts anticipate that Monmouth Real Estate Investment will post 0.91 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Monday, November 15th will be issued a $0.18 dividend. The ex-dividend date is Friday, November 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.45%. Monmouth Real Estate Investment's dividend payout ratio (DPR) is presently 163.64%.
A number of equities analysts have issued reports on MNR shares. Compass Point downgraded Monmouth Real Estate Investment from a "buy" rating to a "neutral" rating in a research note on Monday, November 8th. Royal Bank of Canada boosted their target price on Monmouth Real Estate Investment from $17.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded Monmouth Real Estate Investment from a "sell" rating to a "hold" rating in a research note on Wednesday, November 17th. Finally, B. Riley downgraded Monmouth Real Estate Investment from a "buy" rating to a "neutral" rating in a research note on Monday, November 8th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $19.70.
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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