NYSE:MNR

Stock Analysis Report

Monmouth Real Estate Investment

Executive Summary

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

Snowflake

Fundamentals

6 star dividend payer with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-2.5%

NYSE:MNR

0.2%

US REITs

-1.0%

US Market


1 Year Return

-22.3%

NYSE:MNR

8.2%

US REITs

-0.4%

US Market

MNR underperformed the REITs industry which returned 7.6% over the past year.

MNR underperformed the Market in United States of America which returned -1.7% over the past year.


Share holder returns

MNRIndustryMarket
7 Day-2.5%0.2%-1.0%
30 Day-4.8%2.0%-3.3%
90 Day-5.8%2.9%0.4%
1 Year-18.4%-22.3%13.0%8.2%1.8%-0.4%
3 Year9.0%-4.9%25.0%8.7%39.4%30.4%
5 Year57.3%22.7%58.7%25.0%54.2%37.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

49%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

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, and at a substantial discount (> 40%).


Price Based on Earnings

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

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

Monmouth Real Estate Investment is overvalued based on assets compared to the US REITs industry average.


Next Steps

Future Growth

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

126.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Monmouth Real Estate Investment's revenue is expected to grow by 6.1% yearly, however this is not considered high growth (20% yearly).

Monmouth Real Estate Investment's earnings are expected to grow significantly at over 20% yearly.

Monmouth Real Estate Investment's revenue growth is positive but not above the United States of America market average.

Monmouth Real Estate Investment's earnings growth is expected to exceed the United States of America market average.

Monmouth Real Estate Investment's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if Monmouth Real Estate Investment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

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

4.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

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.


Return on Equity

Monmouth Real Estate Investment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Monmouth Real Estate Investment used its assets less efficiently than the US REITs industry average last year based on Return on Assets.


Return on Capital Employed

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.


Next Steps

Financial Health

How is Monmouth Real Estate Investment's financial position?


Financial Position Analysis

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.


Debt to Equity History and Analysis

Monmouth Real Estate Investment's level of debt (90.2%) compared to net worth is high (greater than 40%).

The level of debt compared to net worth has increased over the past 5 years (72.1% vs 90.2% today).

Debt is not well covered by operating cash flow (11.4%, less than 20% of total debt).

Monmouth Real Estate Investment is making a loss, therefore interest payments are not well covered by earnings.


Balance Sheet

High level of physical assets or inventory.

Debt is not covered by short term assets, assets are 0x debt.


Next Steps

Dividend

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

5.34%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Monmouth Real Estate Investment's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.5%).

Monmouth Real Estate Investment's dividend is above the markets top 25% of dividend payers in United States of America (3.9%).

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

Dividends paid are covered by earnings (1.3x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be thoroughly covered by earnings (140.3x coverage).


Next Steps

Management

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

10.6yrs

Average management tenure


CEO

Michael Landy (57yo)

6.3yrs

Tenure

US$1,523,855

Compensation

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


CEO Compensation Analysis

Michael's remuneration is lower than average for companies of similar size in United States of America.

Michael's compensation has increased whilst company is loss making.


Management Age and Tenure

10.6yrs

Average Tenure

55.5yo

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.


Board Age and Tenure

16.0yrs

Average Tenure

59.5yo

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.


Insider Trading

More shares have been bought than sold by Monmouth Real Estate Investment individual insiders in the past 3 months, but not in substantial volumes.


Recent Insider Transactions

BuyUS$2,00016 Jul 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares152.09
Max PriceUS$13.15
BuyUS$2,00016 Jul 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares152.09
Max PriceUS$13.15
BuyUS$21,36420 Jun 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares1,500
Max PriceUS$14.25
BuyUS$50019 Jun 19
Katie Rytter
EntityIndividual
Role
Controller
Shares38.02
Max PriceUS$13.15
BuyUS$2,00019 Jun 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares152.09
Max PriceUS$13.15
BuyUS$244,00019 Jun 19
UMH Properties, Inc.
EntityCompany
Shares18,555.13
Max PriceUS$13.15
BuyUS$2,00018 Jun 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares152.09
Max PriceUS$13.15
BuyUS$2,00017 May 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares149.59
Max PriceUS$13.37
BuyUS$2,00017 May 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares149.59
Max PriceUS$13.37
BuyUS$2,00016 Apr 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares155.76
Max PriceUS$12.84
BuyUS$10,00016 Apr 19
Neal Herstik
EntityIndividual
Role
Member of the Board of Directors
Shares778.82
Max PriceUS$12.84
BuyUS$2,00016 Apr 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares155.76
Max PriceUS$12.84
BuyUS$27,67519 Mar 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares2,100
Max PriceUS$13.18
BuyUS$2,00018 Mar 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares158.73
Max PriceUS$12.60
BuyUS$2,00018 Mar 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares158.73
Max PriceUS$12.60
BuyUS$244,00018 Mar 19
UMH Properties, Inc.
EntityCompany
Shares19,365.08
Max PriceUS$12.60
BuyUS$2,00019 Feb 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares153.73
Max PriceUS$13.01
BuyUS$2,00019 Feb 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares153.73
Max PriceUS$13.01
BuyUS$1,00016 Jan 19
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares82.3
Max PriceUS$12.15
BuyUS$2,00016 Jan 19
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares164.61
Max PriceUS$12.15
BuyUS$4,99021 Dec 18
Brian Haimm
EntityIndividual
Role
Lead Director
Shares378
Max PriceUS$13.20
BuyUS$6,75920 Dec 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares500
Max PriceUS$13.58
BuyUS$1,00019 Dec 18
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares76.39
Max PriceUS$13.09
BuyUS$164,00019 Dec 18
UMH Properties, Inc.
EntityCompany
Shares12,528.65
Max PriceUS$13.09
BuyUS$2,00019 Dec 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares152.79
Max PriceUS$13.09
SellUS$110,72018 Dec 18
Eugene Landy
EntityIndividual
Role
Founder & Chairman
Chairman of the Board
Shares8,000
Max PriceUS$13.84
BuyUS$9,99730 Nov 18
Allison Nagelberg
EntityIndividual
Role
General Counsel
Shares725
Max PriceUS$13.79
BuyUS$13,72030 Nov 18
Brian Haimm
EntityIndividual
Role
Lead Director
Shares1,000
Max PriceUS$13.72
BuyUS$27,39830 Nov 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares2,000
Max PriceUS$13.73
BuyUS$5,00016 Nov 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares351.62
Max PriceUS$14.22
BuyUS$1,00016 Nov 18
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares70.32
Max PriceUS$14.22
BuyUS$2,00016 Oct 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares138.6
Max PriceUS$14.43
BuyUS$1,00016 Oct 18
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares69.3
Max PriceUS$14.43
BuyUS$10,00016 Oct 18
Neal Herstik
EntityIndividual
Role
Member of the Board of Directors
Shares693
Max PriceUS$14.43
BuyUS$164,00020 Sep 18
UMH Properties, Inc.
EntityCompany
Shares10,006.1
Max PriceUS$16.39
BuyUS$2,00019 Sep 18
Michael Landy
EntityIndividual
Role
CEO, President & Executive Director
Member of the Board of Directors
Shares122.03
Max PriceUS$16.39
BuyUS$2,00018 Sep 18
Kevin Miller
EntityIndividual
Role
CFO, Chief Accounting Officer
Member of the Board of Directors
Shares122.03
Max PriceUS$16.39

Ownership Breakdown


Management Team

  • Michael Prashad

    In-House Counsel & Secretary

  • Michael Landy (57yo)

    CEO, President & Executive Director

    • Tenure: 6.3yrs
    • Compensation: $1.52m
  • Susan Jordan

    Vice President of Investor Relations

    • Tenure: 10.6yrs
  • Allison Nagelberg (54yo)

    General Counsel

    • Tenure: 19.6yrs
    • Compensation: $475.39k
  • Kevin Miller (49yo)

    CFO, Chief Accounting Officer

    • Tenure: 7.1yrs
    • Compensation: $611.93k
  • Laura Teman

    Assistant Controller

  • Katie Rytter

    Controller

  • Rich Molke

    Vice President of Asset Management

  • Eugene Landy (85yo)

    Founder & Chairman

    • Tenure: 51.6yrs
    • Compensation: $817.08k

Board Members

  • Catherine Elflein (58yo)

    Independent Director

    • Tenure: 11.8yrs
    • Compensation: $78.12k
  • Michael Landy (57yo)

    CEO, President & Executive Director

    • Tenure: 12.1yrs
    • Compensation: $1.52m
  • Kevin Miller (49yo)

    CFO, Chief Accounting Officer

    • Tenure: 2.2yrs
    • Compensation: $611.93k
  • Daniel Cronheim (65yo)

    Director

    • Tenure: 30.6yrs
    • Compensation: $73.32k
  • Matthew Hirsch (60yo)

    Independent Director

    • Tenure: 19.1yrs
    • Compensation: $80.32k
  • Neal Herstik (60yo)

    Independent Director

    • Tenure: 15.3yrs
    • Compensation: $73.32k
  • Samuel Landy (59yo)

    Non-Executive Non-Independent Director

    • Tenure: 30.6yrs
    • Compensation: $73.32k
  • Steve Wolgin (65yo)

    Independent Director

    • Tenure: 16.0yrs
    • Compensation: $80.32k
  • Eugene Landy (85yo)

    Founder & Chairman

    • Tenure: 51.6yrs
    • Compensation: $817.08k
  • Brian Haimm (50yo)

    Lead Independent Director

    • Compensation: $79.82k

Company Information

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


Key Information

  • Name: Monmouth Real Estate Investment Corporation
  • Ticker: MNR
  • Exchange: NYSE
  • Founded: 1968
  • Industry: industrial reits
  • Sector: real estate
  • Market Cap: US$1.254b
  • Shares outstanding: 95.46m
  • Website: Click here

Number of Employees


Location

  • Monmouth Real Estate Investment Corporation
  • Juniper Business Plaza
  • Suite 3-D
  • Freehold
  • New Jersey
  • 7728
  • United States

Listings

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

Biography

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. We specialize in single tenant, net-leased industrial properties, subject to long-term l ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/16 23:38
End of Day Share Price2019/08/16 00:00
Earnings2019/06/30
Annual Earnings2018/09/30


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