B.Riley FBR Maintains Their Hold Rating on Monmouth Real Estate ate

In a report released today, Craig Kucera from B.Riley FBR maintained a Hold rating on Monmouth Real Estate ate (NYSE: MNR), with a price target of $16.50. The company’s shares opened today at $15.90.

Kucera noted:

“We are reducing our earnings estimates for Corporation (MNR) while maintaining our $16.50 target post an in-line 2Q18, with our 2018E core FFO declining by $0.02 to $0.89 and our 2019E core FFO falling by $0.02 to $0.93. We continue to anticipate slower external growth for MNR due to cap rate compression on new build-to-suit opportunities and anticipate MNR’s same-store growth to lag industrial peers, given MNR’s triple-net lease structure and very high (99%+) occupancy. We are also lowering our NAV estimate to $15.52 (5.4% portfolio cap rate assumption to FY18E NOI), which has been reduced as a function of lower projected NOI from expected acquisitions as well as losses affiliated with MNR’s securities portfolio.”

According to TipRanks.com, Kucera is a 3-star analyst with an average return of 2.4% and a 56.1% success rate. Kucera covers the Financial sector, focusing on stocks such as Wheeler Real Estate ate Investment Trust Inc, Preferred Apartment Communities, and NexPoint Residential Trust Inc.

Currently, the analyst consensus on Monmouth Real Estate ate is Moderate Buy and the average price target is $18.17, representing a 14.3% upside.

In a report issued on May 8, BMO Capital also maintained a Hold rating on the stock with a $18 price target.

See today’s analyst top recommended stocks >>

Based on Monmouth Real Estate ate’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $11.65 million. In comparison, last year the company had a net profit of $8.42 million.

Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Monmouth Real Estate Investment Corp. engages in the ownership and management of real estate. It invests in well-located, modern, single tenant, industrial buildings, leased primarily to investment-grade tenants on long-term net leases. The company was founded by Eugene W. Landy in 1968 and is headquartered in Freehold, NJ.