Monmouth R.E. Inv. Corp. (MNR) is Reiterated by Wunderlich to Buy, Raises Price Target to $ 15.50

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 $ 15.50 from a previous price target of $13 . Wunderlich advised their investors in a research report released on Aug 5, 2016.

On the company’s financial health, Monmouth R.E. Inv. Corp. reported $0.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.18. The company had revenue of $24.10 million for the quarter, compared to analysts expectations of $22.91 million. The company’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Monmouth R.E. Inv. Corp. closed down -0.01 points or -0.07% at $13.54 with 1,92,078 shares getting traded on Thursday. Post opening the session at $13.63, the shares hit an intraday low of $13.48 and an intraday high of $13.64 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

In a different news, on Jul 18, 2016, Kevin S. Miller (Chief Financial Officer) purchased 78 shares at $12.78 per share price. According to the SEC, on Jun 20, 2016, Michael P Landy (CEO) purchased 740 shares at $13.04 per share price. On Apr 18, 2016, Neal Herstik (director) purchased 901 shares at $11.10 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 Company’s 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).

Monmouth R.E. Inv. Corp.

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