Boenning & Scattergood analyst Merrill Ross maintained a Buy rating on Monmouth Real Estate ate (NYSE: MNR) today and set a price target of $18.50. The company’s shares closed yesterday at $17.23.
Ross noted:
“We believe this acquisition activity reinforces our positive opinion about the company’s prospects, and we maintain our Outperform rating. Our $18.50 price target remains unchanged, though we could be slightly more constructive as we believe the shares can trade to a premium to NAV in the range of 3%-5%, in comparison with some of the better-run companies in its peer group. Moreover, we think our NAV estimate fails to fully capture the value of MNR’s land bank, which grew disproportionately with these latest acquisitions.”
According to TipRanks.com, Ross is a 1-star analyst with an average return of -0.7% and a 51.1% success rate. Ross covers the Financial sector, focusing on stocks such as Bluerock Residential Growth, Gladstone Commercial Corp, and Global Medical REIT.
Monmouth Real Estate ate has an analyst consensus of Moderate Buy, with a price target consensus of $17.67.
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Monmouth Real Estate ate’s market cap is currently $1.38B and has a P/E ratio of 35.56. The company has a Price to Book ratio of 2.70.
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MNR in relation to earlier this year.
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.
