Eagle Asset Management Inc. Has $6.50 Million Holdings in Monmouth R.E. Inv. Corp. (MNR)

Eagle Asset Management Inc. boosted its holdings in Monmouth R.E. Inv. Corp. (NYSE:MNR) by 0.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 524,288 shares of the real estate investment trust’s stock after purchasing an additional 1,268 shares during the quarter. Eagle Asset Management Inc. owned 0.57% of Monmouth R.E. Inv. worth $6,501,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MNR. Montag A & Associates Inc. acquired a new stake in Monmouth R.E. Inv. in the 3rd quarter worth about $17,471,000. Wasatch Advisors Inc. increased its holdings in Monmouth R.E. Inv. by 19.1% in the 3rd quarter. Wasatch Advisors Inc. now owns 6,444,876 shares of the real estate investment trust’s stock valued at $107,758,000 after buying an additional 1,035,717 shares during the period. BlackRock Inc. increased its holdings in Monmouth R.E. Inv. by 12.1% in the 4th quarter. BlackRock Inc. now owns 8,336,117 shares of the real estate investment trust’s stock valued at $103,368,000 after buying an additional 898,719 shares during the period. Resolution Capital Ltd bought a new position in Monmouth R.E. Inv. in the 4th quarter valued at about $10,069,000. Finally, Monarch Partners Asset Management LLC increased its holdings in Monmouth R.E. Inv. by 185.2% in the 4th quarter. Monarch Partners Asset Management LLC now owns 586,693 shares of the real estate investment trust’s stock valued at $7,275,000 after buying an additional 380,978 shares during the period. Institutional investors and hedge funds own 60.37% of the company’s stock.

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Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, November 14th. Boenning Scattergood set a $19.00 target price on shares of Monmouth R.E. Inv. and gave the company a “buy” rating in a report on Thursday, November 29th. ValuEngine raised shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Thursday, December 6th. Finally, TheStreet lowered shares of Monmouth R.E. Inv. from a “b-” rating to a “c” rating in a report on Friday, February 15th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $18.00.

MNR stock opened at $13.16 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 7.46 and a current ratio of 7.46. Monmouth R.E. Inv. Corp. has a 12 month low of $11.88 and a 12 month high of $17.51. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 2.09 and a beta of 0.83.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, February 15th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Thursday, February 14th. Monmouth R.E. Inv.’s dividend payout ratio is currently 78.16%.

In related news, Chairman Eugene W. Landy sold 20,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $266,800.00. Following the sale, the chairman now directly owns 918,733 shares of the company’s stock, valued at approximately $12,255,898.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Eugene W. Landy sold 8,000 shares of Monmouth R.E. Inv. stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $13.84, for a total transaction of $110,720.00. The disclosure for this sale can be found here. Over the last three months, insiders acquired 13,406 shares of company stock worth $183,147. Insiders own 4.63% of the company’s stock.

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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 21.6 million rentable square feet, geographically diversified across 30 states.

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