NYSE:MNR

Stock Analysis Report

Monmouth Real Estate Investment

Executive Summary

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world.

Snowflake

Fundamentals

Established dividend payer with limited growth.


Similar Companies

Share Price & News

How has Monmouth Real Estate Investment's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.1%

MNR

1.2%

US REITs

1.0%

US Market


1 Year Return

-4.7%

MNR

22.9%

US REITs

8.0%

US Market

Return vs Industry: MNR underperformed the US REITs industry which returned 22.9% over the past year.

Return vs Market: MNR underperformed the US Market which returned 8% over the past year.


Shareholder returns

MNRIndustryMarket
7 Day2.1%1.2%1.0%
30 Day3.4%2.6%-0.07%
90 Day6.5%7.9%-1.0%
1 Year0.03%-4.7%28.1%22.9%10.4%8.0%
3 Year20.5%5.1%37.1%19.9%46.2%36.7%
5 Year75.1%36.5%65.8%30.7%64.3%46.2%

Price Volatility Vs. Market

How volatile is Monmouth Real Estate Investment's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Monmouth Real Estate Investment undervalued compared to its fair value and its price relative to the market?

26.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MNR ($14.72) is trading below our estimate of fair value ($20.1)

Significantly Below Fair Value: MNR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MNR is unprofitable, so we can't compare its PE Ratio to the REITs industry average.

PE vs Market: MNR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MNR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MNR is overvalued based on its PB Ratio (2.2x) compared to the US REITs industry average (2.1x).


Next Steps

Future Growth

How is Monmouth Real Estate Investment forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

127.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MNR is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: MNR is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: MNR is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: MNR's revenue (22.8% per year) is forecast to grow faster than the US market (7.2% per year).

High Growth Revenue: MNR's revenue (22.8% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MNR's Return on Equity is forecast to be low in 3 years time (6.5%).


Next Steps

Past Performance

How has Monmouth Real Estate Investment performed over the past 5 years?

4.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: MNR is unprofitable, but has reduced losses over the past 5 years at a rate of 4.3% per year.

Accelerating Growth: Unable to compare MNR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MNR is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (16.9%).


Return on Equity

High ROE: MNR has a negative Return on Equity (1.48%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: MNR is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: MNR is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Monmouth Real Estate Investment's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: MNR has a high level of physical assets or inventory.

Debt Coverage by Assets: MNR's debt is not covered by short term assets (assets are 0x debt).


Financial Institutions Analysis

Asset Level: MNR's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if MNR has a sufficient allowance for bad loans.

Low Risk Liabilities: MNR reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if MNR has an acceptable proportion of non-loan assets held.

Low Risk Deposits: MNR has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if MNR has an appropriate level of bad loans.


Next Steps

Dividend

What is Monmouth Real Estate Investment's current dividend yield, its reliability and sustainability?

4.62%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Monmouth Real Estate Investment before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company4.6%marketbottom25%1.4%markettop25%3.7%industryaverage3.6%forecastin3Years4.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: MNR's dividend (4.62%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: MNR's dividend (4.62%) is in the top 25% of dividend payers in the US market (3.68%)

Stable Dividend: MNR's dividends per share have been stable in the past 10 years.

Growing Dividend: MNR's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (79.4%), MNR's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

  • Explore strong dividend paying companies in the Real Estate industry.

Management

What is the CEO of Monmouth Real Estate Investment's salary, the management and board of directors tenure and is there insider trading?

10.8yrs

Average management tenure


CEO

Michael Landy (57yo)

6.5yrs

Tenure

US$1,523,855

Compensation

Mr. Michael P. Landy has been the Chief Executive Officer and President of Monmouth Real Estate Investment Corporation since April 9, 2013 and has been its Director since July 2007 and previously served as ...


CEO Compensation Analysis

Compensation vs. Market: Michael's total compensation ($USD1.52M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Michael's compensation has increased whilst the company is unprofitable.


Management Age and Tenure

10.8yrs

Average Tenure

55.5yo

Average Age

Experienced Management: MNR's management team is seasoned and experienced (10.8 years average tenure).


Board Age and Tenure

16.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: MNR's board of directors are seasoned and experienced ( 16.2 years average tenure).


Insider Trading

Insider Buying: MNR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$2,00016 Oct 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares145.56
Max PriceUS$13.74
BuyUS$2,00016 Oct 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares145.56
Max PriceUS$13.74
BuyUS$14,36030 Sep 19
Gregory Otto
EntityIndividual
Shares1,000
Max PriceUS$14.36
BuyUS$9,94423 Sep 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares700
Max PriceUS$14.21
BuyUS$5,00018 Sep 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares364.96
Max PriceUS$13.70
BuyUS$2,00018 Sep 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares145.99
Max PriceUS$13.70
BuyUS$244,00118 Sep 19
UMH Properties, Inc.
EntityCompany
Shares17,810.29
Max PriceUS$13.70
BuyUS$13,13028 Aug 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares1,000
Max PriceUS$13.13
BuyUS$20,64319 Aug 19
Stephen Wolgin
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,570
Max PriceUS$13.15
BuyUS$2,00016 Aug 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares158.73
Max PriceUS$12.60
BuyUS$5,00016 Aug 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares396.83
Max PriceUS$12.60
BuyUS$20,00016 Aug 19
Allison Nagelberg
EntityIndividual
Role
Chief Legal Officer
General Counsel
Shares1,587.3
Max PriceUS$12.60
BuyUS$2,00016 Jul 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares152.09
Max PriceUS$13.15
BuyUS$2,00016 Jul 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares152.09
Max PriceUS$13.15
BuyUS$21,36420 Jun 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares1,500
Max PriceUS$14.25
BuyUS$50019 Jun 19
Katie Rytter
EntityIndividual
Role
Controller
Controller
Shares38.02
Max PriceUS$13.15
BuyUS$2,00019 Jun 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares152.09
Max PriceUS$13.15
BuyUS$244,00019 Jun 19
UMH Properties, Inc.
EntityCompany
Shares18,555.13
Max PriceUS$13.15
BuyUS$2,00018 Jun 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares152.09
Max PriceUS$13.15
BuyUS$2,00017 May 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares149.59
Max PriceUS$13.37
BuyUS$2,00017 May 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares149.59
Max PriceUS$13.37
BuyUS$2,00016 Apr 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares155.76
Max PriceUS$12.84
BuyUS$10,00016 Apr 19
Neal Herstik
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares778.82
Max PriceUS$12.84
BuyUS$2,00016 Apr 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares155.76
Max PriceUS$12.84
BuyUS$27,67519 Mar 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares2,100
Max PriceUS$13.18
BuyUS$2,00018 Mar 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares158.73
Max PriceUS$12.60
BuyUS$2,00018 Mar 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares158.73
Max PriceUS$12.60
BuyUS$244,00018 Mar 19
UMH Properties, Inc.
EntityCompany
Shares19,365.08
Max PriceUS$12.60
BuyUS$2,00019 Feb 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares153.73
Max PriceUS$13.01
BuyUS$2,00019 Feb 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares153.73
Max PriceUS$13.01
BuyUS$1,00016 Jan 19
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares82.3
Max PriceUS$12.15
BuyUS$2,00016 Jan 19
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares164.61
Max PriceUS$12.15
BuyUS$4,99021 Dec 18
Brian Haimm
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares378
Max PriceUS$13.20
BuyUS$6,75920 Dec 18
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares500
Max PriceUS$13.58
BuyUS$1,00019 Dec 18
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares76.39
Max PriceUS$13.09
BuyUS$164,00019 Dec 18
UMH Properties, Inc.
EntityCompany
Shares12,528.65
Max PriceUS$13.09
BuyUS$2,00019 Dec 18
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares152.79
Max PriceUS$13.09
SellUS$110,72018 Dec 18
Eugene Landy
EntityIndividual
Role
Chairman of the Board
Founder & Chairman
Shares8,000
Max PriceUS$13.84
BuyUS$9,99730 Nov 18
Allison Nagelberg
EntityIndividual
Role
Chief Legal Officer
General Counsel
Shares725
Max PriceUS$13.79
BuyUS$13,72030 Nov 18
Brian Haimm
EntityIndividual
Role
Lead Director
Lead Independent Director
Shares1,000
Max PriceUS$13.72
BuyUS$27,39830 Nov 18
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares2,000
Max PriceUS$13.73
BuyUS$5,00016 Nov 18
Michael Landy
EntityIndividual
Role
Chief Executive Officer
CEO, President & Executive Director
Shares351.62
Max PriceUS$14.22
BuyUS$1,00016 Nov 18
Kevin Miller
EntityIndividual
Role
Member of the Board of Directors
CFO, Chief Accounting Officer
Shares70.32
Max PriceUS$14.22

Ownership Breakdown


Management Team

  • Eugene Landy (85yo)

    Founder & Chairman

    • Tenure: 51.8yrs
    • Compensation: US$817.08k
  • Michael Landy (57yo)

    CEO, President & Executive Director

    • Tenure: 6.5yrs
    • Compensation: US$1.52m
  • Susan Jordan

    Vice President of Investor Relations

    • Tenure: 10.8yrs
  • Allison Nagelberg (54yo)

    General Counsel

    • Tenure: 19.8yrs
    • Compensation: US$475.39k
  • Kevin Miller (49yo)

    CFO, Chief Accounting Officer

    • Tenure: 2.3yrs
    • Compensation: US$611.93k
  • Katie Rytter

    Controller

    • Tenure: 0yrs
  • Rich Molke

    Vice President of Asset Management

    • Tenure: 0yrs
  • Michael Prashad

    In-House Counsel & Secretary

    • Tenure: 0yrs
  • Laura Teman

    Assistant Controller

    • Tenure: 0yrs

Board Members

  • Eugene Landy (85yo)

    Founder & Chairman

    • Tenure: 51.8yrs
    • Compensation: US$817.08k
  • Samuel Landy (59yo)

    Non-Executive Non-Independent Director

    • Tenure: 30.8yrs
    • Compensation: US$73.32k
  • Daniel Cronheim (65yo)

    Director

    • Tenure: 30.8yrs
    • Compensation: US$73.32k
  • Matthew Hirsch (60yo)

    Independent Director

    • Tenure: 19.3yrs
    • Compensation: US$80.32k
  • Neal Herstik (60yo)

    Independent Director

    • Tenure: 15.5yrs
    • Compensation: US$73.32k
  • Michael Landy (57yo)

    CEO, President & Executive Director

    • Tenure: 6.5yrs
    • Compensation: US$1.52m
  • Steve Wolgin (65yo)

    Independent Director

    • Tenure: 16.2yrs
    • Compensation: US$80.32k
  • Catherine Elflein (58yo)

    Independent Director

    • Tenure: 12yrs
    • Compensation: US$78.12k
  • Kevin Miller (49yo)

    CFO, Chief Accounting Officer

    • Tenure: 2.3yrs
    • Compensation: US$611.93k
  • Brian Haimm (50yo)

    Lead Independent Director

    • Tenure: 0yrs
    • Compensation: US$79.82k

Company Information

Monmouth Real Estate Investment Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Monmouth Real Estate Investment Corporation
  • Ticker: MNR
  • Exchange: NYSE
  • Founded: 1968
  • Industry: Industrial REITs
  • Sector: Real Estate
  • Market Cap: US$1.405b
  • Shares outstanding: 95.46m
  • Website: https://www.mreic.reit

Number of Employees


Location

  • Monmouth Real Estate Investment Corporation
  • Bell Works Complex
  • Suite 1405
  • Holmdel
  • New Jersey
  • 7733
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MNRNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1972
MNR.PRCNYSE (New York Stock Exchange)PFD SER CUSUSDSep 2016

Biography

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 l ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 23:38
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2018/09/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.