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Monmouth Real Estate Investment

NYSE:MNR
Snowflake Description

Average dividend payer with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
MNR
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The last earnings update was 11 days ago. More info.


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MNR Share Price and Events
7 Day Returns
-2.1%
NYSE:MNR
1.8%
US REITs
-0.7%
US Market
1 Year Returns
-9.3%
NYSE:MNR
16.3%
US REITs
3%
US Market
MNR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Monmouth Real Estate Investment (MNR) -2.1% 4.4% 2% -9.3% 19.7% 50.6%
US REITs 1.8% 2.4% 3.1% 16.3% 13.8% 26.4%
US Market -0.7% -2% 2.4% 3% 39.2% 42%
1 Year Return vs Industry and Market
  • MNR underperformed the REITs industry which returned 16.3% over the past year.
  • MNR underperformed the Market in United States of America which returned 3% over the past year.
Price Volatility
MNR
Industry
5yr Volatility vs Market

MNR Value

 Is Monmouth Real Estate Investment undervalued based on future cash flows and its price relative to the stock market?

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Monmouth Real Estate Investment.

NYSE:MNR Discounted Cash Flow Data Sources
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 7.9%
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.

Calculation of Discount Rate/ Cost of Equity for NYSE:MNR
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 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (67.27%))
0.875
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.87
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.875 * 5.96%)
7.94%

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.

NYSE:MNR DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 7.94%)
2019 75.49 Analyst x5 69.93
2020 86.50 Analyst x4 74.24
2021 94.50 Analyst x1 75.13
2022 102.62 Est @ 8.6% 75.59
2023 109.64 Est @ 6.84% 74.81
2024 115.79 Est @ 5.6% 73.19
2025 121.28 Est @ 4.74% 71.02
2026 126.30 Est @ 4.14% 68.52
2027 130.99 Est @ 3.72% 65.83
2028 135.47 Est @ 3.42% 63.08
Present value of next 10 years cash flows $711.35
NYSE:MNR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $135.47 × (1 + 2.73%) ÷ (7.94% – 2.73%)
$2,669.14
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $2,669.14 ÷ (1 + 7.94%)10
$1,242.77
NYSE:MNR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $711.35 + $1,242.77
$1,954.11
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,954.11 / 94.19
$20.75
NYSE:MNR Discount to Share Price
Calculation Result
Value per share (USD) From above. $20.75
Current discount Discount to share price of $13.95
= -1 x ($13.95 - $20.75) / $20.75
32.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Monmouth Real Estate Investment is available for.
Intrinsic value
33%
Share price is $13.95 vs Future cash flow value of $20.75
Current Discount Checks
For Monmouth Real Estate Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
NYSE:MNR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $0.11
NYSE:MNR Share Price ** NYSE (2019-05-17) in USD $13.95
United States of America REITs Industry PE Ratio Median Figure of 156 Publicly-Listed REITs Companies 32.79x
United States of America Market PE Ratio Median Figure of 3,088 Publicly-Listed Companies 17.89x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Monmouth Real Estate Investment.

NYSE:MNR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MNR Share Price ÷ EPS (both in USD)

= 13.95 ÷ 0.11

125.31x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Monmouth Real Estate Investment is overvalued based on earnings compared to the US REITs industry average.
  • Monmouth Real Estate Investment is overvalued based on earnings compared 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?
Raw Data
NYSE:MNR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 125.31x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
120.2%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 2.4x
United States of America Market PEG Ratio Median Figure of 2,117 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

NYSE:MNR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 125.31x ÷ 120.2%

1.04x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Monmouth Real Estate Investment is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Monmouth Real Estate Investment's assets?
Raw Data
NYSE:MNR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $6.86
NYSE:MNR Share Price * NYSE (2019-05-17) in USD $13.95
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:MNR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MNR Share Price ÷ Book Value per Share (both in USD)

= 13.95 ÷ 6.86

2.03x

* 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.
X
Value checks
We assess Monmouth Real Estate Investment's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. 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

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

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!
Annual Growth Rate
120.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Monmouth Real Estate Investment expected to grow at an attractive rate?
  • 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 positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:MNR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:MNR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 120.2%
NYSE:MNR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 5%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*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
Raw Data
NYSE:MNR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:MNR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-09-30
2020-09-30 166 44 2
2019-09-30 163 11 2
NYSE:MNR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 150 93 10
2018-12-31 145 90 -7
2018-09-30 139 86 39
2018-06-30 137 87 38
2018-03-31 130 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

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Monmouth Real Estate Investment's earnings are expected to grow significantly at over 20% yearly.
  • Monmouth Real Estate Investment's revenue is expected to grow by 5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:MNR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month 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 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MNR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-09-30
2020-09-30 0.45 0.49 0.41 2.00
2019-09-30 0.11 0.13 0.09 2.00
NYSE:MNR Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 0.11
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

*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.
X
Future performance checks
We assess Monmouth Real Estate Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Monmouth Real Estate Investment has a total score of 3/6, 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
Below we compare Monmouth Real Estate Investment's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Monmouth Real Estate Investment's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Monmouth Real Estate Investment's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Monmouth Real Estate Investment's 1-year earnings growth is negative, it can't be compared to the US REITs industry average.
Earnings and Revenue History
Monmouth Real Estate Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Monmouth Real Estate Investment Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:MNR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 149.81 9.56 8.68
2018-12-31 144.84 -6.86 8.65
2018-09-30 139.16 38.82 8.78
2018-06-30 137.29 37.76 8.55
2018-03-31 129.70 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

*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.
  • Monmouth Real Estate Investment's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Monmouth Real Estate Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Monmouth Real Estate Investment has a total score of 1/6, 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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Monmouth Real Estate Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from Monmouth Real Estate Investment Company Filings, last reported 1 month ago.

NYSE:MNR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 943.11 883.88 16.36
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
  • Monmouth Real Estate Investment's level of debt (93.7%) 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 (94.4% vs 93.7% today).
  • Debt is not well covered by operating cash flow (10.6%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.6x coverage).
X
Financial health checks
We assess Monmouth Real Estate Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Monmouth Real Estate Investment has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.87%
Current annual income from Monmouth Real Estate Investment dividends. Estimated to be 5.01% next year.
If you bought $2,000 of Monmouth Real Estate Investment shares you are expected to receive $97 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Monmouth Real Estate Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Monmouth Real Estate Investment's dividend is above the markets top 25% of dividend payers in United States of America (3.69%).
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.
Raw Data
NYSE:MNR Annualized Past and Future Dividends
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 2000 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
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.

NYSE:MNR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-09-30
2020-09-30 0.72 3.00
2019-09-30 0.68 3.00
NYSE:MNR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-02 0.680 4.989
2019-01-17 0.680 5.069
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

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 (0.8x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Monmouth Real Estate Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Landy
COMPENSATION $1,523,855
AGE 56
TENURE AS CEO 6.1 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 by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • 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:

10.3
Average Tenure
54.5
Average Age
  • 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

TITLE
Founder & Chairman
COMPENSATION
$817K
AGE
84
TENURE
51.3 yrs

Michael Landy

TITLE
CEO, President & Executive Director
COMPENSATION
$2M
AGE
56
TENURE
6.1 yrs

Kevin Miller

TITLE
CFO, Chief Accounting Officer
COMPENSATION
$612K
AGE
48
TENURE
6.8 yrs

Allison Nagelberg

TITLE
General Counsel
COMPENSATION
$475K
AGE
53
TENURE
19.3 yrs

Susan Jordan

TITLE
Vice President of Investor Relations
TENURE
10.3 yrs

Rich Molke

TITLE
Vice President of Asset Management

Katie Rytter

TITLE
Controller

Michael Prashad

TITLE
In-House Counsel & Secretary

Laura Teman

TITLE
Assistant Controller
Board of Directors Tenure

Average tenure and age of the Monmouth Real Estate Investment board of directors in years:

15.8
Average Tenure
58.5
Average Age
  • 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

TITLE
Founder & Chairman
COMPENSATION
$817K
AGE
84
TENURE
51.3 yrs

Michael Landy

TITLE
CEO, President & Executive Director
COMPENSATION
$2M
AGE
56
TENURE
11.8 yrs

Kevin Miller

TITLE
CFO, Chief Accounting Officer
COMPENSATION
$612K
AGE
48
TENURE
1.9 yrs

Matthew Hirsch

TITLE
Independent Director
COMPENSATION
$80K
AGE
59
TENURE
18.8 yrs

Brian Haimm

TITLE
Lead Independent Director
COMPENSATION
$80K
AGE
49

Daniel Cronheim

TITLE
Director
COMPENSATION
$73K
AGE
64
TENURE
30.3 yrs

Samuel Landy

TITLE
Non-Executive Non-Independent Director
COMPENSATION
$73K
AGE
58
TENURE
30.3 yrs

Steve Wolgin

TITLE
Independent Director
COMPENSATION
$80K
AGE
64
TENURE
15.8 yrs

Neal Herstik

TITLE
Independent Director
COMPENSATION
$73K
AGE
59
TENURE
15.1 yrs

Catherine Elflein

TITLE
Independent Director
COMPENSATION
$78K
AGE
57
TENURE
11.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Monmouth Real Estate Investment insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
17. May 19 Buy Michael Landy Individual 15. May 19 15. May 19 150 $13.37 $2,000
17. May 19 Buy Kevin Miller Individual 15. May 19 15. May 19 150 $13.37 $2,000
16. Apr 19 Buy Kevin Miller Individual 15. Apr 19 15. Apr 19 156 $12.84 $2,000
16. Apr 19 Buy Michael Landy Individual 15. Apr 19 15. Apr 19 156 $12.84 $2,000
16. Apr 19 Buy Neal Herstik Individual 15. Apr 19 15. Apr 19 779 $12.84 $10,000
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
X
Management checks
We assess Monmouth Real Estate Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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

What You Need To Know Before Investing In Monmouth Real Estate Investment Corporation (NYSE:MNR)

Monmouth Real Estate Investment Corporation is a US$1.3b small-cap, real estate investment trust (REIT) based in Freehold, United States. … Check out our latest analysis for Monmouth Real Estate Investment REIT investors should be familiar with the term Fund from Operations (FFO) – a REIT’s main source of cash flow from its day-to-day business activities. … Monmouth Real Estate Investment can bring about diversification for your portfolio, but before you decide to invest, take a look at the other aspects you must consider before investing: Future Outlook: What are well-informed industry analysts predicting for MNR’s future growth?

Simply Wall St -

Should You Buy Monmouth Real Estate Investment Corporation (NYSE:MNR) For Its Dividend?

Could Monmouth Real Estate Investment Corporation (NYSE:MNR) be an attractive dividend share to own for the long haul? … With Monmouth Real Estate Investment yielding 5.2% and having paid a dividend for over 10 years, many investors likely find the company quite interesting. … Explore this interactive chart for our latest analysis on Monmouth Real Estate Investment!

Simply Wall St -

What Kind Of Shareholder Owns Most Monmouth Real Estate Investment Corporation (NYSE:MNR) Stock?

If you want to know who really controls Monmouth Real Estate Investment Corporation (NYSE:MNR), then you'll have to look at the makeup of its share registry. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Monmouth Real Estate Investment isn't enormous, but it's not particularly small either.

Simply Wall St -

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 -

How 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 -

Have 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 -

How 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 -

Investing 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 -

What 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 -

Is 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 -

MNR 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 21.8 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
$1,313,932,113
94,188,682
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
Staff numbers
15
Monmouth Real Estate Investment employees.
Industry
Industrial REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/20 01:36
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
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.