Monmouth R.E. Inv. Corp. (MNR) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 13 from a previous price target of $11.50 . Wunderlich advised their investors in a research report released on May 6, 2016.
On the company’s financial health, Monmouth R.E. Inv. Corp. reported $0.18 EPS for the quarter, based on the information available during the earnings call on May 4, 2016. Analyst had a consensus estimate of $0.18. The company had revenue of $23.00 million for the quarter, compared to analysts expectations of $23.34 million. The company’s revenue was up 21.7% compared to the same quarter last year.
Monmouth R.E. Inv. Corp. opened for trading at $11.73 and hit $11.99 on the upside on Wednesday, eventually ending the session at $11.88, with a gain of 1.11% or 0.13 points. The heightened volatility saw the trading volume jump to 3,58,767 shares. Company has a market cap of $764 M.
In a different news, on Apr 18, 2016, Neal Herstik (director) purchased 901 shares at $11.10 per share price. According to the SEC, on Apr 18, 2016, Kevin S. Miller (Chief Financial Officer) purchased 90 shares at $11.10 per share price. On Mar 28, 2016, Michael P Landy (CEO) purchased 1,000 shares at $11.53 per share price, according to the Form-4 filing with the securities and exchange commission.
Monmouth Real Estate Investment Corporation (MREIC) is a real estate investment trust (REIT). The Companys investment focus is to own well-located net leased industrial properties which are leased to investment-grade tenants on long-term leases. It also holds a portfolio of REIT securities. The Company operates through its subsidiary MREIC Financial Inc. As of September 30 2013 the Company held investments in seventy-six properties totaling approximately 9586000 square feet consisting of seventy-five industrial properties and one shopping center. These properties are located in twenty-six states which include Alabama Arizona Colorado Connecticut Florida Georgia Illinois Iowa Kansas Maryland Michigan Minnesota Mississippi Missouri Nebraska New Jersey New York North Carolina Ohio Oklahoma Pennsylvania South Carolina Tennessee Texas Virginia and Wisconsin. The Company has properties leased to FedEx Corporation (FDX).