| Snowflake Score | |
|---|---|
| Valuation | 3/6 |
| Future Growth | 2/6 |
| Past Performance | 1/6 |
| Financial Health | 1/6 |
| Dividends | 4/6 |
MNR Stock Overview
Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world.
Monmouth Real Estate Investment Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$20.90 |
| 52 Week High | US$21.14 |
| 52 Week Low | US$17.18 |
| Beta | 0.72 |
| 1 Month Change | -0.096% |
| 3 Month Change | 8.91% |
| 1 Year Change | 16.50% |
| 3 Year Change | 55.97% |
| 5 Year Change | 38.69% |
| Change since IPO | 241.22% |
Recent News & Updates
Monmouth Real Estate: Still Quality, Still Expensive
Monmouth Real Estate Investment Corporation continues to demonstrate that it's a quality operator in the industrial REIT space. The company's long-term potential looks solid and it will likely create positive value for shareholders moving forward. But shares of the business are still pricey and investors can probably find better prospects elsewhere.
Shareholder Returns
| MNR | US REITs | US Market | |
|---|---|---|---|
| 7D | -0.05% | -3.2% | -4.6% |
| 1Y | 16.5% | 25.7% | 7.7% |
Return vs Industry: MNR underperformed the US REITs industry which returned 29.9% over the past year.
Return vs Market: MNR exceeded the US Market which returned 10.2% over the past year.
Price Volatility
| MNR volatility | |
|---|---|
| MNR Average Weekly Movement | 3.5% |
| REITs Industry Average Movement | 4.0% |
| Market Average Movement | 6.6% |
| 10% most volatile stocks in US Market | 15.7% |
| 10% least volatile stocks in US Market | 2.4% |
Stable Share Price: MNR is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: MNR's weekly volatility (4%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1968 | 14 | Michael Landy | https://www.mreic.reit |
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 leases, primarily to investment-grade tenants. Monmouth Real Estate is a fully integrated and self-managed real estate company, whose property portfolio consists of 121 properties, containing a total of approximately 24.5 million rentable square feet, geographically diversified across 31 states.
Monmouth Real Estate Investment Fundamentals Summary
| MNR fundamental statistics | |
|---|---|
| Market Cap | US$2.06b |
| Earnings (TTM) | US$44.76m |
| Revenue (TTM) | US$182.76m |
46.0x
P/E Ratio11.3x
P/S RatioIs MNR overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MNR income statement (TTM) | |
|---|---|
| Revenue | US$182.76m |
| Cost of Revenue | US$32.37m |
| Gross Profit | US$150.39m |
| Expenses | US$105.62m |
| Earnings | US$44.76m |
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
n/a
| Earnings per share (EPS) | 0.45 |
| Gross Margin | 82.29% |
| Net Profit Margin | 24.49% |
| Debt/Equity Ratio | 99.1% |
How did MNR perform over the long term?
See historical performance and comparisonDividends
3.4%
Current Dividend Yield221%
Payout RatioValuation
Is Monmouth Real Estate Investment undervalued compared to its fair value and its price relative to the market?
46.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MNR ($20.9) is trading below our estimate of fair value ($39.07)
Significantly Below Fair Value: MNR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MNR is good value based on its PE Ratio (46x) compared to the US REITs industry average (46.3x).
PE vs Market: MNR is poor value based on its PE Ratio (46x) compared to the US market (17x).
Price to Earnings Growth Ratio
PEG Ratio: MNR is poor value based on its PEG Ratio (8.4x)
Price to Book Ratio
PB vs Industry: MNR is overvalued based on its PB Ratio (3.8x) compared to the US REITs industry average (2x).
Future Growth
How is Monmouth Real Estate Investment forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?
5.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MNR's forecast earnings growth (5.4% per year) is above the savings rate (2%).
Earnings vs Market: MNR's earnings (5.4% per year) are forecast to grow slower than the US market (13% per year).
High Growth Earnings: MNR's earnings are forecast to grow, but not significantly.
Revenue vs Market: MNR's revenue (12.2% per year) is forecast to grow faster than the US market (9.2% per year).
High Growth Revenue: MNR's revenue (12.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if MNR's Return on Equity is forecast to be high in 3 years time
Past Performance
How has Monmouth Real Estate Investment performed over the past 5 years?
-5.5%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MNR has a large one-off gain of $22.9M impacting its September 30 2021 financial results.
Growing Profit Margin: MNR became profitable in the past.
Past Earnings Growth Analysis
Earnings Trend: MNR's earnings have declined by 5.5% per year over the past 5 years.
Accelerating Growth: MNR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.
Earnings vs Industry: MNR has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (29.5%).
Return on Equity
High ROE: MNR's Return on Equity (7.4%) is considered low.
Financial Health
How is Monmouth Real Estate Investment's financial position?
Financial Position Analysis
Short Term Liabilities: MNR's short term assets ($77.9M) exceed its short term liabilities ($10.5M).
Long Term Liabilities: MNR's short term assets ($77.9M) do not cover its long term liabilities ($1.1B).
Debt to Equity History and Analysis
Debt Level: MNR's net debt to equity ratio (94.6%) is considered high.
Reducing Debt: MNR's debt to equity ratio has increased from 85.8% to 99.1% over the past 5 years.
Debt Coverage: MNR's debt is not well covered by operating cash flow (7.8%).
Interest Coverage: MNR's interest payments on its debt are not well covered by EBIT (2.8x coverage).
Balance Sheet
Dividend
What is Monmouth Real Estate Investment current dividend yield, its reliability and sustainability?
3.44%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MNR's dividend (3.44%) is higher than the bottom 25% of dividend payers in the US market (1.35%).
High Dividend: MNR's dividend (3.44%) is low compared to the top 25% of dividend payers in the US market (3.48%).
Stability and Growth of Payments
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: With its high payout ratio (220.7%), MNR's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MNR's dividends in 3 years are forecast to be covered by earnings (77.5% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.7yrs
Average management tenure
CEO
Michael Landy (59 yo)
8.75yrs
Tenure
US$1,276,620
Compensation
Mr. Michael P. Landy serves as the Chief Executive Officer and President of Monmouth Real Estate Investment Corporation since April 9, 2013 and serves as its Director since July 2007 and previously served...
CEO Compensation Analysis
Compensation vs Market: Michael's total compensation ($USD1.28M) is below average for companies of similar size in the US market ($USD3.70M).
Compensation vs Earnings: Michael's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: MNR's management team is seasoned and experienced (7.7 years average tenure).
Board Members
Experienced Board: MNR's board of directors are seasoned and experienced ( 15.4 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Monmouth Real Estate Investment Corporation's 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
- Implied Market Cap: US$2.058b
- Shares outstanding: 98.49m
- 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
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/01/19 23:34 |
| End of Day Share Price | 2022/01/19 00:00 |
| Earnings | 2021/09/30 |
| Annual Earnings | 2021/09/30 |
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.