Mach Natural Resources Stock Price, News & Analysis

Monmouth Real Estate Investment Corporation (NYSE:MNR) reported a net loss of $48.6 million or $0.50 per diluted share for the fiscal year ending September 30, 2020, a stark contrast to a net income of $11 million or $0.12 per diluted share in 2019. This decline was primarily attributed to $77.4 million in unrealized losses following an accounting rule change. Funds from Operations (FFO) decreased to $78.5 million from $81.2 million year-over-year, while Adjusted Funds from Operations (AFFO) fell to $76.9 million from $79.7 million. Despite challenges, the company maintained a robust portfolio occupancy at 99.4% and expects future growth from its acquisition pipeline.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced that its leadership team, including President and CEO Michael P. Landy, will participate in Nareit’s REITworld: 2020 Virtual Annual Conference on November 17, 2020, at 9:30 a.m. ET. The presentation will be available live and on-demand for registered participants. Founded in 1968, Monmouth specializes in single-tenant, net-leased industrial properties, and boasts a portfolio of 119 properties across 31 states, totaling approximately 23.4 million rentable square feet, with an impressive occupancy rate of 99.4%.

Monmouth Real Estate Investment Corporation (NYSE:MNR) will host a financial results webcast on November 24, 2020, at 10:00 a.m. ET. This meeting follows the release of its Fourth Quarter and Fiscal Yearend 2020 financial results on November 23, 2020, after market close. The company, specializing in single-tenant net-leased industrial properties, has a portfolio of 119 properties with 23.4 million rentable square feet and a high occupancy rate of 99.4%. Investors can access the webcast through the company’s website.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced a $0.17 quarterly cash dividend on common stock, payable on December 15, 2020, to shareholders of record as of November 16, 2020. This leads to an annual dividend rate of $0.68 per share. Additionally, a dividend of $0.3828125 per share on the 6.125% Series C Cumulative Redeemable Preferred Stock will also be paid on the same date. Monmouth, a leader in single tenant, net-leased industrial properties, boasts a 99.4% occupancy rate across its 119 properties totaling 23.4 million rentable square feet.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced the acquisition of a 120,780 square foot industrial building in Oklahoma City for $15.2 million, net-leased to Amazon.com Services for a 10-year term. The facility, located on approximately 22 acres near The Will Rogers International Airport, is expected to enhance Monmouth’s portfolio, which boasts 99.4% occupancy. The company emphasizes its strong tie to the digital economy amid a rising trend in e-commerce sales, which increased by 44.5% year-over-year.

Monmouth Real Estate Investment Corporation (NYSE:MNR) reported a strong recovery in Q3 2020, with net income attributable to common shareholders of $26.9 million ($0.27/share), up from a loss of $3.1 million a year earlier. FFO decreased slightly to $19.7 million ($0.20/share) compared to $19.9 million last year. The company maintained occupancy at 99.4% and demonstrated resilience with 99.6% rent collection in July. The firm reported a $19.6 million unrealized gain on securities and has committed to acquiring new properties worth $218.7 million, supported by a strong balance sheet and favorable lease terms.

Monmouth Real Estate Investment Corporation (NYSE: MNR) announced a quarterly cash dividend of $0.17 per share on July 1, 2020, payable on September 15, 2020. Shareholders must be on record by August 17, 2020. The annual rate is $0.68.

Additionally, a dividend of $0.3828125 per share for the Series C Preferred Stock was declared, with an annual rate of $1.53125, also payable on September 15. Monmouth focuses on single-tenant, net-leased industrial properties, boasting a portfolio of 118 properties across 31 states.

Monmouth Real Estate Investment Corporation (MNR) reported a remarkable 99.4% average occupancy rate from March 1 to June 30, 2020.

Rent collections during this period were strong, showing 100% for March, 99% for April, 98% for May, and 99% for June.

Michael P. Landy, President and CEO, highlighted the resilience of their net-leased industrial properties, which are leased to investment-grade tenants, signifying a steady income stream during volatile times. Founded in 1968, MNR is recognized for its high-quality real estate portfolio across 31 states, encompassing approximately 23.4 million rentable square feet.

Monmouth Real Estate Investment Corporation (NYSE:MNR) will report its Third Quarter 2020 financial results on August 4, 2020, after market close. A conference call will occur on August 5, 2020, at 10:00 a.m. Eastern Time, where senior management will discuss reports, market conditions, and the future outlook. The company specializes in net-leased industrial properties and has a diversified portfolio of 118 properties across 31 states, comprising approximately 23.4 million rentable square feet.