Monmouth Real Estate Investment Corporation (NYSE:MNR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday, October 4th. The firm currently has a $18.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target points to a potential upside of 6.51% from the stock’s current price.

According to Zacks, “MONMOUTH REAL ESTATE INVT operates as a qualified hybrid real estate investment trust under the Internal Revenue Code of 1954. “

A number of other analysts have also commented on MNR. BidaskClub lowered Monmouth Real Estate Investment Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. National Securities reissued a “buy” rating and set a $18.00 price objective (up previously from $16.50) on shares of Monmouth Real Estate Investment Corporation in a research report on Monday, August 21st. FBR & Co reissued an “outperform” rating and set a $16.50 price objective on shares of Monmouth Real Estate Investment Corporation in a research report on Tuesday, July 11th. Finally, BMO Capital Markets initiated coverage on Monmouth Real Estate Investment Corporation in a research report on Monday, September 11th. They set a “market perform” rating and a $16.50 price objective for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $17.00.

Shares of Monmouth Real Estate Investment Corporation (NYSE:MNR) traded up 0.90% during mid-day trading on Wednesday, reaching $16.90. 258,081 shares of the company’s stock traded hands. Monmouth Real Estate Investment Corporation has a 12 month low of $12.91 and a 12 month high of $16.93. The stock has a market cap of $1.18 billion, a PE ratio of 54.52 and a beta of 0.50. The firm has a 50 day moving average price of $16.25 and a 200-day moving average price of $15.27.

Monmouth Real Estate Investment Corporation (NYSE:MNR) last announced its quarterly earnings results on Wednesday, August 9th. The real estate investment trust reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.04. Monmouth Real Estate Investment Corporation had a return on equity of 7.91% and a net margin of 32.02%. The company had revenue of $28.61 million during the quarter, compared to analyst estimates of $28.81 million. During the same quarter last year, the firm posted $0.19 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. On average, analysts predict that Monmouth Real Estate Investment Corporation will post $0.33 earnings per share for the current fiscal year.

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In related news, Chairman Eugene W. Landy sold 32,500 shares of Monmouth Real Estate Investment Corporation stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $16.27, for a total value of $528,775.00. Following the completion of the sale, the chairman now directly owns 880,705 shares in the company, valued at approximately $14,329,070.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders bought 1,827 shares of company stock valued at $35,170. 5.31% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. increased its holdings in Monmouth Real Estate Investment Corporation by 12.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 40,829 shares of the real estate investment trust’s stock worth $661,000 after buying an additional 4,463 shares in the last quarter. Intl Fcstone Inc. bought a new stake in Monmouth Real Estate Investment Corporation in the 2nd quarter worth about $361,000. WFG Advisors LP increased its holdings in Monmouth Real Estate Investment Corporation by 10.6% in the 2nd quarter. WFG Advisors LP now owns 35,272 shares of the real estate investment trust’s stock worth $531,000 after buying an additional 3,380 shares in the last quarter. Wasatch Advisors Inc. increased its holdings in Monmouth Real Estate Investment Corporation by 3.3% in the 2nd quarter. Wasatch Advisors Inc. now owns 1,239,300 shares of the real estate investment trust’s stock worth $18,651,000 after buying an additional 39,656 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in Monmouth Real Estate Investment Corporation by 0.5% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 77,615 shares of the real estate investment trust’s stock worth $1,168,000 after buying an additional 362 shares in the last quarter. Institutional investors own 60.56% of the company’s stock.

About Monmouth Real Estate Investment Corporation

Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT). The Company’s primary business is the ownership of real estate. Its investment focus is to own single tenant, industrial buildings and leased to investment-grade tenants or their subsidiaries on long-term net leases.

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