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MNR

Monmouth Real Estate InvestmentNYSE:MNR Stock Report

Last Price

US$20.90

Market Cap

US$2.1b

7D

-0.05%

1Y

16.5%

Updated

19 Jan, 2022

Data

Company Financials +
MNR fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance1/6
Financial Health1/6
Dividends4/6

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

Prologis

NYSE:PLD

US$115.6b

Duke Realty

NYSE:DRE

US$22.4b

Rexford Industrial Realty

NYSE:REXR

US$11.5b

EastGroup Properties

NYSE:EGP

US$8.2b

Price History & Performance

Summary of all time highs, changes and price drops for Monmouth Real Estate Investment
Historical stock prices
Current Share PriceUS$20.90
52 Week HighUS$21.14
52 Week LowUS$17.18
Beta0.72
1 Month Change-0.096%
3 Month Change8.91%
1 Year Change16.50%
3 Year Change55.97%
5 Year Change38.69%
Change since IPO241.22%

Recent News & Updates

Oct 27

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

MNRUS REITsUS Market
7D-0.05%-3.2%-4.6%
1Y16.5%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

Is MNR's price volatile compared to industry and market?
MNR volatility
MNR Average Weekly Movement3.5%
REITs Industry Average Movement4.0%
Market Average Movement6.6%
10% most volatile stocks in US Market15.7%
10% least volatile stocks in US Market2.4%

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

FoundedEmployeesCEOWebsite
196814Michael Landyhttps://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

How do Monmouth Real Estate Investment's earnings and revenue compare to its market cap?
MNR fundamental statistics
Market CapUS$2.06b
Earnings (TTM)US$44.76m
Revenue (TTM)US$182.76m

46.0x

P/E Ratio

11.3x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MNR income statement (TTM)
RevenueUS$182.76m
Cost of RevenueUS$32.37m
Gross ProfitUS$150.39m
ExpensesUS$105.62m
EarningsUS$44.76m

Last Reported Earnings

Sep 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.45
Gross Margin82.29%
Net Profit Margin24.49%
Debt/Equity Ratio99.1%

How did MNR perform over the long term?

See historical performance and comparison

Dividends

3.4%

Current Dividend Yield

221%

Payout Ratio

Valuation

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/01/19 23:34
End of Day Share Price2022/01/19 00:00
Earnings2021/09/30
Annual Earnings2021/09/30


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.