JRM Investment Counsel LLC Decreases Position in Monmouth R.E. Inv. Corp. (NYSE:MNR)

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JRM Investment Counsel LLC cut its stake in shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) by 21.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,805 shares of the real estate investment trust’s stock after selling 44,328 shares during the period. Monmouth R.E. Inv. accounts for about 1.5% of JRM Investment Counsel LLC’s portfolio, making the stock its 20th biggest position. JRM Investment Counsel LLC owned about 0.17% of Monmouth R.E. Inv. worth $2,138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. State of Alaska Department of Revenue increased its holdings in Monmouth R.E. Inv. by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 29,272 shares of the real estate investment trust’s stock worth $384,000 after purchasing an additional 816 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Monmouth R.E. Inv. by 10.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 15,200 shares of the real estate investment trust’s stock valued at $200,000 after buying an additional 1,400 shares during the last quarter. Advisor Group Inc. raised its stake in shares of Monmouth R.E. Inv. by 45.7% during the 2nd quarter. Advisor Group Inc. now owns 4,887 shares of the real estate investment trust’s stock valued at $66,000 after buying an additional 1,533 shares during the last quarter. Shufro Rose & Co. LLC raised its stake in shares of Monmouth R.E. Inv. by 2.5% during the 2nd quarter. Shufro Rose & Co. LLC now owns 64,400 shares of the real estate investment trust’s stock valued at $873,000 after buying an additional 1,600 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Monmouth R.E. Inv. by 1.3% during the 1st quarter. Rhumbline Advisers now owns 138,890 shares of the real estate investment trust’s stock valued at $1,831,000 after buying an additional 1,760 shares during the last quarter. Institutional investors and hedge funds own 66.68% of the company’s stock.

Shares of NYSE MNR traded down $0.02 during trading on Friday, reaching $13.22. 150,606 shares of the company traded hands, compared to its average volume of 442,883. The firm’s fifty day simple moving average is $13.57 and its 200 day simple moving average is $13.61. The stock has a market cap of $1.26 billion, a P/E ratio of 15.20 and a beta of 0.65. Monmouth R.E. Inv. Corp. has a 12-month low of $11.88 and a 12-month high of $17.51. The company has a current ratio of 6.64, a quick ratio of 6.64 and a debt-to-equity ratio of 1.34.

Monmouth R.E. Inv. (NYSE:MNR) last announced its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.25). Monmouth R.E. Inv. had a net margin of 6.08% and a return on equity of 1.18%. The business had revenue of $39.47 million during the quarter, compared to analysts’ expectations of $39.91 million. As a group, research analysts expect that Monmouth R.E. Inv. Corp. will post 0.87 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, August 15th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.68 annualized dividend and a dividend yield of 5.14%. Monmouth R.E. Inv.’s dividend payout ratio is presently 78.16%.

A number of research firms have weighed in on MNR. ValuEngine upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Friday, May 10th. BMO Capital Markets set a $15.00 price objective on Monmouth R.E. Inv. and gave the company a “hold” rating in a research note on Friday, August 2nd. Zacks Investment Research upgraded Monmouth R.E. Inv. from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Boenning Scattergood reiterated a “buy” rating and set a $17.50 price objective on shares of Monmouth R.E. Inv. in a research note on Friday, May 10th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $15.50.

About Monmouth R.E. Inv.

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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Institutional Ownership by Quarter for Monmouth R.E. Inv. (NYSE:MNR)

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