Monmouth R.E. Inv. Corp. (MNR) Releases Earnings Results, Beats Expectations By $0.01 EPS

Monmouth R.E. Inv. Corp. (MNR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.19 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.18. The company posted revenue of $24.10 million in the period, 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.

Many Wall Street Analysts have commented on Monmouth R.E. Inv. Corp.. Company shares were Reiterated by Wunderlich on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $11.50 .

Monmouth R.E. Inv. Corp. closed down -0.24 points or -1.73% at $13.66 with 1,62,371 shares getting traded on Tusday. Post opening the session at $13.9, the shares hit an intraday low of $13.66 and an intraday high of $13.9 and the price fluctuated in this range throughout the day.Shares ended Tusday 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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