Ceredex Value Advisors LLC decreased its holdings in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 5.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,283 shares of the real estate investment trust’s stock after selling 6,335 shares during the period. Ceredex Value Advisors LLC’s holdings in Monmouth R.E. Inv. were worth $1,928,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in MNR. UBS Group AG raised its holdings in Monmouth R.E. Inv. by 3.9% during the first quarter. UBS Group AG now owns 89,308 shares of the real estate investment trust’s stock worth $1,343,000 after buying an additional 3,359 shares during the last quarter. Legal & General Group Plc raised its holdings in Monmouth R.E. Inv. by 20.3% during the first quarter. Legal & General Group Plc now owns 223,588 shares of the real estate investment trust’s stock worth $3,362,000 after buying an additional 37,657 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Monmouth R.E. Inv. during the second quarter worth $180,000. Bank of Montreal Can acquired a new position in Monmouth R.E. Inv. during the second quarter worth $841,000. Finally, Amalgamated Bank acquired a new position in Monmouth R.E. Inv. during the second quarter worth $175,000. Hedge funds and other institutional investors own 62.63% of the company’s stock.
Several brokerages have recently commented on MNR. Zacks Investment Research upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a report on Wednesday, October 17th. B. Riley upgraded shares of Monmouth R.E. Inv. from a “neutral” rating to a “buy” rating and lowered their target price for the company from $17.50 to $17.00 in a report on Tuesday, October 9th. Finally, Boenning Scattergood reiterated a “buy” rating and issued a $19.00 target price on shares of Monmouth R.E. Inv. in a report on Friday, September 7th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Monmouth R.E. Inv. presently has a consensus rating of “Buy” and a consensus price target of $18.60.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Thursday, November 15th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $0.68 annualized dividend and a dividend yield of 4.55%. Monmouth R.E. Inv.’s dividend payout ratio is currently 89.47%.
In other news, insider Umh Properties, Inc. bought 9,396 shares of the stock in a transaction dated Monday, September 17th. The stock was bought at an average price of $16.39 per share, for a total transaction of $154,000.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders bought 10,419 shares of company stock valued at $169,001. 4.63% of the stock is currently owned by corporate insiders.
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About Monmouth R.E. Inv.
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes 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 109 properties containing a total of approximately 20.5 million rentable square feet, geographically diversified across 30 states.
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