Equity Commonwealth acquires Monmouth Real Estate for $3 4B njbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from njbiz.com Daily Mail and Mail on Sunday newspapers.
Markets
BMO Capital analyst Frank Lee maintained a Hold rating on Monmouth Real Estate Investment (MNR – Research Report) today and set a price target of $18.00. The company’s shares closed last Wednesday at $18.30, close to its 52-week high of $18.86.
According to TipRanks.com, Lee is a 2-star analyst with an average return of 6.7% and a 78.6% success rate. Lee covers the Financial sector, focusing on stocks such as Franklin Street Properties, Hudson Pacific Properties, and American Finance.
Currently, the analyst consensus on Monmouth Real Estate Investment is a Moderate Buy with an average price target of $18.67.
The company has a one-year high of $18.86 and a one-year low of $10.83. Currently, Monmouth Real Estate Investment has an average volume of 377.5K.
HOLMDEL, N.J. (AP)
Monmouth Real Estate Investment Corp. (MNR) on Thursday reported a key measure of profitability in its fiscal first quarter. The results missed
Wall Street expectations.
Holmdel, New Jersey, said it had funds from operations of
$18.2 million, or
The average estimate of four analysts surveyed by
Zacks Investment Research was for funds from operations of
21 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of
$25.7 million, or
Corporate America Not Likely To Unwind COVID-19 Debt Buildup Despite Credit Hits
Blog
Blog
Six trends shaping the industries and sectors we cover in 2021
15 Jan, 2021 Author Saadoon MinhasJake Mooney
S&P Global Market Intelligence offers our top picks of real estate news stories and more published throughout the week.
After an uninspiring year for real estate investment trust stocks in 2020, analysts took divergent views on the outlook for the sector in the coming year.
Analysts at Mizuho Securities USA, Janney Montgomery Scott and Jefferies all noted in forecasts that generalist and retail investors turned cool on REITs in 2020, seeing more attractive growth in other industries. The teams differed in their views of 2021, though, based in part on their expectations for interest rate movement.
Shares of Monmouth Real Estate Investment Corp. MNR,
+1.33% surged 5.9% in premarket trading Monday, after investment management firm Blackwells Capital LLC said it made an unsolicited bid to buy Monmouth in a deal that values the real estate management company at about $1.77 billion. Blackwells said it will pay $18.00 a share in cash for each Monmouth share outstanding, which is 5.9% above Friday s closing price of $16.99. The stock had rallied 12.9% since Blackwells said it privately submitted its first all-cash bid to the company on Dec. 1. As a public company, Monmouth has significantly underperformed comparable industrial REITs over the last five years, further exacerbated by the stock s lack of liquidity, said Blackwells Chief Investment Officer Jason Aintabi. For myriad and tangible reasons, Monmouth in its current state, does not belong in the public markets. Pursuing our offer is the best way to maximize value for all Monmouth shareholders. Monmouth s