Monmouth Real Estate Investment
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Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The last earnings update was 44 days ago. More info.
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MNR Share Price and Events
7 Day Returns
1 Year Returns
MNR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Monmouth Real Estate Investment (MNR) | -0.8% | -4.6% | 2.7% | -8.7% | 13.3% | 38.8% |
| US REITs | 0.5% | 1.7% | 14% | 17.4% | 12.3% | 29.2% |
| US Market | -1.1% | 0.3% | 16.7% | 6.4% | 37.9% | 42.1% |
1 Year Return vs Industry and Market
- MNR underperformed the REITs industry which returned 17.4% over the past year.
- MNR underperformed the Market in United States of America which returned 6.4% over the past year.
MNR Value
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Monmouth Real Estate Investment
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Monmouth Real Estate Investment.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations | |
| Levered Adjusted Funds From Operations | Average of 3 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 8.1% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 6% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.54 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.543 (1 + (1- 21%) (74.14%)) |
0.907 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.91 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.907 * 5.96%) |
8.14% |
Discounted Cash Flow Calculation for NYSE:MNR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model
The calculations below outline how an intrinsic value for Monmouth Real Estate Investment is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
Monmouth Real Estate Investment is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.
| Adjusted Funds From Operations (AFFO) (USD, Millions) | Source |
Present Value Discounted (@ 8.14%) |
|
|---|---|---|---|
| 2019 | 83.44 | Analyst x4 | 77.16 |
| 2020 | 90.89 | Analyst x3 | 77.73 |
| 2021 | 93.77 | Est @ 3.17% | 74.16 |
| 2022 | 96.62 | Est @ 3.03% | 70.66 |
| 2023 | 99.46 | Est @ 2.94% | 67.27 |
| 2024 | 102.32 | Est @ 2.88% | 64.00 |
| 2025 | 105.22 | Est @ 2.83% | 60.86 |
| 2026 | 108.17 | Est @ 2.8% | 57.86 |
| 2027 | 111.18 | Est @ 2.78% | 54.99 |
| 2028 | 114.26 | Est @ 2.77% | 52.26 |
| Present value of next 10 years cash flows | $656.94 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= $114.26 × (1 + 2.73%) ÷ (8.14% – 2.73%) |
$2,171.28 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= $2,171.28 ÷ (1 + 8.14%)10 |
$993.15 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= $656.94 + $993.15 |
$1,650.10 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $1,650.10 / 92.70 |
$17.8 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $17.80 |
| Current discount | Discount to share price of
$13.06
= -1 x ($13.06 - $17.80) / $17.80 |
26.6% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Monmouth Real Estate Investment's share price is below the future cash flow value, and at a moderate discount (> 20%).
- Monmouth Real Estate Investment's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Monmouth Real Estate Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Monmouth Real Estate Investment's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $-0.08 |
| NYSE:MNR Share Price ** | NYSE (2019-03-22) in USD | $13.06 |
| United States of America REITs Industry PE Ratio | Median Figure of 152 Publicly-Listed REITs Companies | 30.93x |
| United States of America Market PE Ratio | Median Figure of 3,061 Publicly-Listed Companies | 17.15x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Monmouth Real Estate Investment.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:MNR Share Price ÷ EPS (both in USD) = 13.06 ÷ -0.08 |
-156.36x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Monmouth Real Estate Investment is loss making, we can't compare its value to the US REITs industry average.
- Monmouth Real Estate Investment is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does
Monmouth Real Estate Investment's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -156.36x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts |
186.7%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 139 Publicly-Listed REITs Companies | -0.18x |
| United States of America Market PEG Ratio | Median Figure of 2,104 Publicly-Listed Companies | 1.45x |
*Line of best fit is calculated by linear regression .
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Unable to calculate PEG ratio for Monmouth Real Estate Investment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on
Monmouth Real Estate Investment's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $6.68 |
| NYSE:MNR Share Price * | NYSE (2019-03-22) in USD | $13.06 |
| United States of America REITs Industry PB Ratio | Median Figure of 191 Publicly-Listed REITs Companies | 1.84x |
| United States of America Market PB Ratio | Median Figure of 5,164 Publicly-Listed Companies | 1.84x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:MNR Share Price ÷ Book Value per Share (both in USD) = 13.06 ÷ 6.68 |
1.95x |
* Primary Listing of Monmouth Real Estate Investment.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Monmouth Real Estate Investment is overvalued based on assets compared to the US REITs industry average.
Value checks
We assess Monmouth Real Estate Investment's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) Monmouth Real Estate Investment has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
MNR Future Performance
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Monmouth Real Estate Investment's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
- Monmouth Real Estate Investment's earnings growth is expected to exceed the United States of America market average.
- Monmouth Real Estate Investment's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:MNR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts | 186.7% |
| NYSE:MNR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts | 7.5% |
| United States of America REITs Industry Earnings Growth Rate | Market Cap Weighted Average | 0.8% |
| United States of America REITs Industry Revenue Growth Rate | Market Cap Weighted Average | 3.4% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 14.2% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-09-30 | 169 | 49 | 2 | |
| 2019-09-30 | 161 | 1 | 3 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 145 | 90 | -7 |
| 2018-09-30 | 139 | 86 | 39 |
| 2018-06-30 | 137 | 87 | 38 |
| 2018-03-31 | 129 | 86 | 33 |
| 2017-12-31 | 123 | 77 | 30 |
| 2017-09-30 | 116 | 74 | 23 |
| 2017-06-30 | 109 | 62 | 21 |
| 2017-03-31 | 104 | 57 | 22 |
| 2016-12-31 | 100 | 57 | 22 |
| 2016-09-30 | 98 | 55 | 21 |
| 2016-06-30 | 90 | 53 | 24 |
| 2016-03-31 | 86 | 49 | 21 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
All data from Monmouth Real Estate Investment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2020-09-30 | 0.51 | 0.53 | 0.49 | 2.00 |
| 2019-09-30 | 0.28 | 0.28 | 0.28 | 1.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.08 |
| 2018-09-30 | 0.49 |
| 2018-06-30 | 0.49 |
| 2018-03-31 | 0.43 |
| 2017-12-31 | 0.41 |
| 2017-09-30 | 0.32 |
| 2017-06-30 | 0.30 |
| 2017-03-31 | 0.32 |
| 2016-12-31 | 0.33 |
| 2016-09-30 | 0.31 |
| 2016-06-30 | 0.37 |
| 2016-03-31 | 0.34 |
*GAAP earnings excluding extraordinary items.
Performance in 3 years
In the same way as past performance we look at the future estimated return
(profit) compared to the available
funds. We do this looking forward 3 years.
- Unable to establish if Monmouth Real Estate Investment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
Future performance checks
We assess Monmouth Real Estate Investment's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Monmouth Real Estate Investment has a total score of 4/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
MNR Past Performance
How has Monmouth Real Estate Investment performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Monmouth Real Estate Investment does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
- Unable to compare Monmouth Real Estate Investment's 1-year earnings growth to the 5-year average as it is not currently profitable.
- Unable to compare Monmouth Real Estate Investment's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
All data from Monmouth Real Estate Investment Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 144.84 | -6.86 | 8.65 | |
| 2018-09-30 | 139.16 | 38.82 | 8.78 | |
| 2018-06-30 | 136.57 | 37.76 | 8.55 | |
| 2018-03-31 | 128.98 | 32.65 | 8.45 | |
| 2017-12-31 | 122.67 | 30.10 | 8.31 | |
| 2017-09-30 | 116.39 | 22.94 | 7.81 | |
| 2017-06-30 | 108.67 | 20.90 | 7.10 | |
| 2017-03-31 | 104.18 | 21.76 | 7.25 | |
| 2016-12-31 | 99.84 | 21.90 | 7.00 | |
| 2016-09-30 | 97.76 | 20.53 | 6.89 | |
| 2016-06-30 | 89.91 | 23.88 | 6.99 | |
| 2016-03-31 | 86.47 | 20.83 | 6.66 | |
| 2015-12-31 | 82.36 | 18.51 | 6.40 | |
| 2015-09-30 | 77.78 | 17.00 | 6.31 | |
| 2015-06-30 | 74.13 | 12.02 | 6.17 | |
| 2015-03-31 | 69.20 | 12.43 | 6.07 | |
| 2014-12-31 | 66.69 | 12.37 | 5.83 | |
| 2014-09-30 | 64.67 | 11.24 | 5.71 | |
| 2014-06-30 | 62.17 | 9.90 | 5.29 | |
| 2014-03-31 | 60.48 | 8.49 | 5.19 | |
| 2013-12-31 | 57.44 | 11.08 | 4.83 | |
| 2013-09-30 | 54.61 | 12.50 | 4.98 | |
| 2013-06-30 | 53.21 | 11.47 | 4.99 | |
| 2013-03-31 | 51.70 | 10.35 | 4.73 | |
| 2012-12-31 | 50.96 | 12.45 | 4.69 | |
| 2012-09-30 | 50.37 | 13.19 | 4.64 | |
| 2012-06-30 | 49.31 | 14.13 | 4.23 | |
| 2012-03-31 | 48.82 | 16.22 | 4.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Monmouth Real Estate Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Monmouth Real Estate Investment used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
- It is difficult to establish if Monmouth Real Estate Investment improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Monmouth Real Estate Investment's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Monmouth Real Estate Investment has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
MNR Health
How is Monmouth Real Estate Investment's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Monmouth Real Estate Investment's finances.
The net worth of a company is the difference between its assets and liabilities.
- Monmouth Real Estate Investment's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Monmouth Real Estate Investment's long term commitments exceed its cash and other short term assets.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Monmouth Real Estate Investment Company Filings, last reported 2 months ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 905.56 | 897.52 | 12.77 |
| 2018-09-30 | 797.91 | 898.15 | 9.32 |
| 2018-06-30 | 788.91 | 814.88 | 6.89 |
| 2018-03-31 | 750.36 | 786.39 | 12.47 |
| 2017-12-31 | 754.08 | 722.65 | 10.76 |
| 2017-09-30 | 712.87 | 711.46 | 10.23 |
| 2017-06-30 | 658.25 | 676.58 | 11.75 |
| 2017-03-31 | 699.31 | 503.60 | 22.95 |
| 2016-12-31 | 611.14 | 581.57 | 30.72 |
| 2016-09-30 | 651.35 | 558.27 | 95.75 |
| 2016-06-30 | 501.25 | 566.21 | 6.89 |
| 2016-03-31 | 476.81 | 506.34 | 9.93 |
| 2015-12-31 | 458.39 | 500.70 | 12.93 |
| 2015-09-30 | 446.01 | 459.03 | 12.07 |
| 2015-06-30 | 435.19 | 430.17 | 14.05 |
| 2015-03-31 | 430.83 | 412.33 | 25.50 |
| 2014-12-31 | 424.03 | 364.65 | 15.30 |
| 2014-09-30 | 420.63 | 313.00 | 20.47 |
| 2014-06-30 | 423.54 | 305.07 | 42.72 |
| 2014-03-31 | 352.64 | 334.12 | 10.70 |
| 2013-12-31 | 343.77 | 343.53 | 8.45 |
| 2013-09-30 | 335.91 | 272.29 | 12.40 |
| 2013-06-30 | 331.73 | 264.82 | 13.13 |
| 2013-03-31 | 327.94 | 268.55 | 20.13 |
| 2012-12-31 | 318.47 | 283.99 | 10.28 |
| 2012-09-30 | 315.69 | 251.76 | 24.65 |
| 2012-06-30 | 317.56 | 249.72 | 47.44 |
| 2012-03-31 | 265.83 | 256.13 | 11.56 |
- Monmouth Real Estate Investment's level of debt (99.1%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (99.9% vs 99.1% today).
- Debt is not well covered by operating cash flow (10.1%, less than 20% of total debt).
- Monmouth Real Estate Investment is making a loss, therefore interest payments are not well covered by earnings.
Financial health checks
We assess Monmouth Real Estate Investment's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Monmouth Real Estate Investment has a total score of 1/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
MNR Dividends
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
$2,000 of
Monmouth Real Estate Investment
shares you are expected to receive
$104
in your first year as a dividend.
Dividend Amount
- Monmouth Real Estate Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
- Monmouth Real Estate Investment's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 3 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 184 Stocks | 3.9% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 2003 Stocks | 2.5% |
| United States of America Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
| United States of America Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| United States of America Top 25% Dividend Yield | 75th Percentile | 3.7% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2020-09-30 | 0.72 | 3.00 |
| 2019-09-30 | 0.68 | 3.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-17 | 0.680 | 5.058 |
| 2018-10-01 | 0.680 | 4.806 |
| 2018-07-02 | 0.680 | 4.033 |
| 2018-04-02 | 0.680 | 4.390 |
| 2017-10-02 | 0.680 | 4.153 |
| 2017-07-03 | 0.640 | 4.096 |
| 2017-04-04 | 0.640 | 4.328 |
| 2017-01-18 | 0.640 | 4.433 |
| 2016-10-03 | 0.640 | 4.584 |
| 2016-07-01 | 0.640 | 4.610 |
| 2016-04-05 | 0.640 | 5.294 |
| 2016-01-20 | 0.640 | 5.872 |
| 2015-10-01 | 0.640 | 6.206 |
| 2015-07-01 | 0.600 | 6.219 |
| 2015-04-01 | 0.600 | 5.968 |
| 2015-01-22 | 0.600 | 5.268 |
| 2014-10-01 | 0.600 | 5.414 |
| 2014-07-01 | 0.600 | 5.745 |
| 2014-04-01 | 0.600 | 6.335 |
| 2014-01-15 | 0.600 | 6.352 |
| 2013-10-01 | 0.600 | 6.586 |
| 2013-07-01 | 0.600 | 6.351 |
| 2013-04-09 | 0.600 | 5.745 |
| 2013-01-17 | 0.600 | 5.529 |
| 2012-10-01 | 0.600 | 5.680 |
| 2012-07-09 | 0.600 | 5.320 |
| 2012-04-18 | 0.600 | 5.729 |
| 2012-01-19 | 0.600 | 6.315 |
| 2011-10-04 | 0.600 | 6.943 |
| 2011-07-05 | 0.600 | 7.437 |
| 2011-04-07 | 0.600 | 7.192 |
| 2011-01-14 | 0.600 | 7.244 |
| 2010-10-01 | 0.600 | 7.246 |
| 2010-07-01 | 0.600 | 7.996 |
| 2010-04-09 | 0.600 | 7.974 |
| 2009-10-06 | 0.600 | 8.155 |
| 2009-08-05 | 0.600 | 8.804 |
| 2009-05-05 | 0.600 | 9.951 |
| 2009-03-24 | 0.600 | 9.411 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Monmouth Real Estate Investment's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are not well covered by earnings (0.5x coverage).
- Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
Income/ dividend checks
We assess Monmouth Real Estate Investment's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Monmouth Real Estate Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Monmouth Real Estate Investment has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
MNR Management
CEO
| COMPENSATION | $1,523,855 |
| AGE | 56 |
| TENURE AS CEO | 5.9 years |
CEO Bio
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 Chief Operating Officer from January 2011 to April 2013, Executive Vice President from 2009 to 2010, Vice President of Investments since 2001 until 2006, Executive Vice President of Investments since 2006 to 2009. Mr. Landy joined Monmouth Real Estate Investment Corporation in 2001. He served as an Executive Vice President since 2010 until 2012 and as Vice President of Investments since 2001 until 2010 at UMH Properties Inc. He served as the President at Siam Records LLC from 1998 to 2001. He served as the Chief Engineer and Technical Director at GRP Recording Company from 1987 to 1998. Mr. Landy has been a Director of UMH Properties Inc., since April 18, 2011. He is a Member of New York University’s REIT Center Board of Advisors since 2013. He is a Member of Nareit’s Advisory Board of Governors since 2018. He has extensive experience in real estate finance, investment, capital markets and operations management.
CEO Compensation
- Michael's compensation has increased whilst company is loss making.
- Michael's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure
Average tenure and age of the Monmouth Real Estate Investment management team in years:
- The average tenure for the Monmouth Real Estate Investment management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team
Eugene Landy
Founder & Chairman
$817K
84
51.2 yrs
Michael Landy
CEO, President & Executive Director
$2M
56
5.9 yrs
Kevin Miller
CFO, Chief Accounting Officer
$612K
48
6.7 yrs
Allison Nagelberg
General Counsel
$475K
53
19.2 yrs
Susan Jordan
Vice President of Investor Relations
10.2 yrs
Rich Molke
Vice President of Asset Management
Katie Rytter
Controller
Michael Prashad
Secretary & In-House Counsel
Laura Teman
Assistant Controller
Board of Directors Tenure
Average tenure and age of the Monmouth Real Estate Investment board of directors in years:
- The average tenure for the Monmouth Real Estate Investment board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors
Eugene Landy
Founder & Chairman
$817K
84
51.2 yrs
Michael Landy
CEO, President & Executive Director
$2M
56
11.7 yrs
Kevin Miller
CFO, Chief Accounting Officer
$612K
48
1.8 yrs
Matthew Hirsch
Independent Director
$80K
59
18.7 yrs
Brian Haimm
Lead Independent Director
$80K
49
Daniel Cronheim
Director
$73K
64
30.2 yrs
Samuel Landy
Non-Executive Non-Independent Director
$73K
58
30.2 yrs
Steve Wolgin
Independent Director
$80K
64
15.6 yrs
Neal Herstik
Independent Director
$73K
59
14.9 yrs
Catherine Elflein
Independent Director
$78K
57
11.4 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Monmouth Real Estate Investment insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 19. Mar 19 | Buy | Michael Landy | Individual | 19. Mar 19 | 19. Mar 19 | 2,100 | $13.18 | $27,675 | ||
| 18. Mar 19 | Buy | Michael Landy | Individual | 15. Mar 19 | 15. Mar 19 | 159 | $12.60 | $2,000 | ||
| 18. Mar 19 | Buy | Kevin Miller | Individual | 15. Mar 19 | 15. Mar 19 | 159 | $12.60 | $2,000 | ||
| 18. Mar 19 | Buy | UMH Properties, Inc. | Company | 15. Mar 19 | 15. Mar 19 | 19,365 | $12.60 | $244,000 | ||
| 19. Feb 19 | Buy | Kevin Miller | Individual | 15. Feb 19 | 15. Feb 19 | 154 | $13.01 | $2,000 | ||
| 19. Feb 19 | Buy | Michael Landy | Individual | 15. Feb 19 | 15. Feb 19 | 154 | $13.01 | $2,000 | ||
| 16. Jan 19 | Buy | Michael Landy | Individual | 15. Jan 19 | 15. Jan 19 | 165 | $12.15 | $2,000 | ||
| 16. Jan 19 | Buy | Kevin Miller | Individual | 15. Jan 19 | 15. Jan 19 | 82 | $12.15 | $1,000 | ||
| 20. Dec 18 | Buy | Michael Landy | Individual | 19. Dec 18 | 19. Dec 18 | 500 | $13.58 | $6,759 | ||
| 21. Dec 18 | Buy | Brian Haimm | Individual | 20. Dec 18 | 20. Dec 18 | 378 | $13.20 | $4,990 | ||
| 19. Dec 18 | Buy | Kevin Miller | Individual | 17. Dec 18 | 17. Dec 18 | 76 | $13.09 | $1,000 | ||
| 19. Dec 18 | Buy | Michael Landy | Individual | 17. Dec 18 | 17. Dec 18 | 153 | $13.09 | $2,000 | ||
| 19. Dec 18 | Buy | UMH Properties, Inc. | Company | 17. Dec 18 | 17. Dec 18 | 12,529 | $13.09 | $164,000 | ||
| 18. Dec 18 | Sell | Eugene Landy | Individual | 14. Dec 18 | 14. Dec 18 | -8,000 | $13.84 | $-110,720 | ||
| 30. Nov 18 | Buy | Allison Nagelberg | Individual | 30. Nov 18 | 30. Nov 18 | 725 | $13.79 | $9,997 | ||
| 30. Nov 18 | Buy | Brian Haimm | Individual | 30. Nov 18 | 30. Nov 18 | 1,000 | $13.72 | $13,720 | ||
| 30. Nov 18 | Buy | Michael Landy | Individual | 30. Nov 18 | 30. Nov 18 | 2,000 | $13.73 | $27,398 | ||
| 16. Nov 18 | Buy | Kevin Miller | Individual | 15. Nov 18 | 15. Nov 18 | 70 | $14.22 | $1,000 | ||
| 16. Nov 18 | Buy | Michael Landy | Individual | 15. Nov 18 | 15. Nov 18 | 352 | $14.22 | $5,000 | ||
| 16. Oct 18 | Buy | Neal Herstik | Individual | 15. Oct 18 | 15. Oct 18 | 693 | $14.43 | $10,000 | ||
| 16. Oct 18 | Buy | Michael Landy | Individual | 15. Oct 18 | 15. Oct 18 | 139 | $14.43 | $2,000 | ||
| 16. Oct 18 | Buy | Kevin Miller | Individual | 15. Oct 18 | 15. Oct 18 | 69 | $14.43 | $1,000 | ||
| 19. Sep 18 | Buy | Michael Landy | Individual | 17. Sep 18 | 17. Sep 18 | 122 | $16.39 | $2,000 | ||
| 20. Sep 18 | Buy | UMH Properties, Inc. | Company | 17. Sep 18 | 17. Sep 18 | 10,006 | $16.39 | $164,000 | ||
| 18. Sep 18 | Buy | Kevin Miller | Individual | 17. Sep 18 | 17. Sep 18 | 122 | $16.39 | $2,000 | ||
| 16. Aug 18 | Buy | Neal Herstik | Individual | 15. Aug 18 | 15. Aug 18 | 623 | $16.04 | $10,000 | ||
| 16. Aug 18 | Buy | Michael Landy | Individual | 15. Aug 18 | 15. Aug 18 | 125 | $16.04 | $2,000 | ||
| 16. Aug 18 | Buy | Allison Nagelberg | Individual | 15. Aug 18 | 15. Aug 18 | 1,247 | $16.04 | $20,000 | ||
| 06. Aug 18 | Buy | Gregory Otto | Individual | 06. Aug 18 | 06. Aug 18 | 500 | $16.84 | $8,420 | ||
| 18. Jul 18 | Buy | Michael Landy | Individual | 16. Jul 18 | 16. Jul 18 | 125 | $16.06 | $2,000 | ||
| 18. Jul 18 | Buy | Kevin Miller | Individual | 16. Jul 18 | 16. Jul 18 | 62 | $16.06 | $1,000 | ||
| 17. Jul 18 | Buy | Eugene Landy | Individual | 16. Jul 18 | 16. Jul 18 | 623 | $16.06 | $10,000 | ||
| 28. Jun 18 | Buy | Brian Haimm | Individual | 22. Jun 18 | 22. Jun 18 | 1,000 | $15.84 | $15,845 | ||
| 19. Jun 18 | Buy | Kevin Miller | Individual | 15. Jun 18 | 15. Jun 18 | 68 | $14.66 | $1,000 | ||
| 19. Jun 18 | Buy | Eugene Landy | Individual | 15. Jun 18 | 15. Jun 18 | 682 | $14.66 | $10,000 | ||
| 19. Jun 18 | Buy | Michael Landy | Individual | 15. Jun 18 | 15. Jun 18 | 136 | $14.66 | $2,000 | ||
| 18. Jun 18 | Buy | UMH Properties, Inc. | Company | 15. Jun 18 | 15. Jun 18 | 10,505 | $14.66 | $154,000 | ||
| 16. May 18 | Buy | Eugene Landy | Individual | 15. May 18 | 15. May 18 | 676 | $14.80 | $10,000 | ||
| 16. May 18 | Buy | Michael Landy | Individual | 15. May 18 | 15. May 18 | 135 | $14.80 | $2,000 | ||
| 16. May 18 | Buy | Kevin Miller | Individual | 15. May 18 | 15. May 18 | 68 | $14.80 | $1,000 | ||
| 10. May 18 | Buy | Michael Landy | Individual | 10. May 18 | 10. May 18 | 1,200 | $15.83 | $18,996 | ||
| 17. Apr 18 | Buy | Kevin Miller | Individual | 16. Apr 18 | 16. Apr 18 | 70 | $14.36 | $1,000 | ||
| 17. Apr 18 | Buy | Michael Landy | Individual | 16. Apr 18 | 16. Apr 18 | 139 | $14.36 | $2,000 | ||
Management checks
We assess Monmouth Real Estate Investment's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Monmouth Real Estate Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
MNR News
Simply Wall St News
The Monmouth Real Estate Investment Share Price Has Gained 42% And Shareholders Are Hoping For More
But Monmouth Real Estate Investment Corporation (NYSE:MNR) has fallen short of that second goal, with a share price rise of 42% over five years, which is below the market return. … By comparing earnings per share (EPS) and and share price changes over time, we can get a feel for how investor attitudes to a company have morphed over time. … Over half a decade, Monmouth Real Estate Investment managed to grow its earnings per share at 8.6% a year.
Simply Wall St - – Full articleHow Should Investors Feel About Monmouth Real Estate Investment Corporation's (NYSE:MNR) CEO Pay?
Michael Landy became the CEO of Monmouth Real Estate Investment Corporation (NYSE:MNR) in 2013. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … Check out our latest analysis for Monmouth Real Estate Investment
Simply Wall St - – Full articleHave Insiders Been Buying Monmouth Real Estate Investment Corporation (NYSE:MNR) Shares?
So before you buy or sell Monmouth Real Estate Investment Corporation (NYSE:MNR), you may well want to know whether insiders have been buying or selling. … The Last 12 Months Of Insider Transactions At Monmouth Real Estate Investment. … Overall, Monmouth Real Estate Investment insiders were net buyers last year
Simply Wall St - – Full articleHow Good Is Monmouth Real Estate Investment Corporation (NYSE:MNR), When It Comes To ROE?
To keep the lesson grounded in practicality, we'll use ROE to better understand Monmouth Real Estate Investment Corporation (NYSE:MNR). … Monmouth Real Estate Investment has a ROE of 6.9%, based on the last twelve months. … View our latest analysis for Monmouth Real Estate Investment?
Simply Wall St - – Full articleInvesting In Property Through Monmouth Real Estate Investment Corporation (NYSE:MNR)
Monmouth Real Estate Investment Corporation is a US$1.3b. … real estate investment trust (REIT) based in Freehold, United States. … REITs are basically a portfolio of income-producing real estate investments, which are owned and operated by management of that trust company.
Simply Wall St - – Full articleWhat Kind Of Shareholder Owns Most Monmouth Real Estate Investment Corporation (NYSE:MNR) Stock?
A look at the shareholders of Monmouth Real Estate Investment Corporation (NYSE:MNR) can tell us which group is most powerful. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Monmouth Real Estate Investment isn't enormous, but it's not particularly small either.
Simply Wall St - – Full articleIs Monmouth Real Estate Investment Corporation (NYSE:MNR) An Industry Laggard Or Leader?
Monmouth Real Estate Investment Corporation (NYSE:MNR), a US$1.37b. … is a real estate company operating in an industry … Real estate investment trust, or a REIT, is a collective vehicle for investing in real estate that began in the US and has since been adopted worldwide as an investment asset
Simply Wall St - – Full articleShould You Invest In Monmouth Real Estate Investment Corporation (NYSE:MNR)?
Monmouth Real Estate Investment Corporation is a US$1.34b. … real estate investment trust (REIT) based in Freehold, United States. … View our latest analysis for Monmouth Real Estate Investment
Simply Wall St - – Full articleShould You Buy Monmouth Real Estate Investment Corporation (NYSE:MNR) At US$015.84?
Monmouth Real Estate Investment Corporation (NYSE:MNR), a reits company based in United States,. … saw a double-digit share price rise of over 10% in the past couple of months on the NYSE. … Today I will analyse the most recent data on Monmouth Real Estate Investment’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleMonmouth Real Estate Investment Corporation (NYSE:MNR) Has Attractive Fundamentals, Here's Why
Monmouth Real Estate Investment Corporation (NYSE:MNR) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of MNR, it
Simply Wall St - – Full articleMNR Company Info
Description
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 113 properties containing a total of approximately 21.6 million rentable square feet, geographically diversified across 30 states. In addition, we own a portfolio of REIT securities.
Details
| Name: | Monmouth Real Estate Investment Corporation |
| MNR | |
| Exchange: | NYSE |
| Founded: | 1968 |
| $1,210,616,133 | |
| 92,696,488 | |
| Website: | http://www.mreic.reit |
| Address: |
Monmouth Real Estate Investment Corporation Juniper Business Plaza, Suite 3-D, Freehold, New Jersey, 07728, United States |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| NYSE | MNR | Common Stock | New York Stock Exchange | US | USD | 14. Dec 1972 | |
| NYSE | MNR.PRC | PFD SER C | New York Stock Exchange | US | USD | 07. Sep 2016 |
Number of employees
Current staff
Industry
| Industrial REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/23 23:40 |
| End of day share price update: | 2019/03/22 00:00 |
| Last estimates confirmation: | 2019/03/08 |
| Last earnings filing: | 2019/02/07 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/09/30 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
