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May 22, 2015 11:50 PM ET

Real Estate Investment Trusts (REITs)

Company Overview of Monmouth Real Estate Investment Corp.

Company Overview

Monmouth Real Estate Investment Corporation (MREIC) is a real estate investment trust. It owns, manages, and leases properties to investment-grade tenants on long-term leases. The firm invests in the public equity and real estate markets of the United States. It primarily invests in industrial properties and holds a portfolio of REIT securities. Monmouth Real Estate Investment Corporation was founded in 1968 and is based in Freehold, New Jersey.

Juniper Business Plaza

Suite 3-C

3499 Route 9 North

Freehold, NJ 07728

United States

Founded in 1968

13 Employees

Phone:

732-577-9996

Key Executives for Monmouth Real Estate Investment Corp.

Chief Executive Officer, President and Director
Age: 52
Total Annual Compensation: $642.5K
Founder and Chairman
Age: 80
Total Annual Compensation: $475.0K
Chief Financial and Accounting Officer
Age: 44
Total Annual Compensation: $295.8K
General Counsel
Age: 49
Total Annual Compensation: $305.2K
Compensation as of Fiscal Year 2014.

Monmouth Real Estate Investment Corp. Key Developments

Monmouth Real Estate Investment Corp. Announces Earnings for the Second Quarter and Six Months Ended March 31, 2015

Monmouth Real Estate Investment Corp. announced earnings for the second quarter and six months ended March 31, 2015. For the quarter, the company reported rental revenue was $16,206,000 compared to $14,085,000 a year ago. Net operating income was $15,908,000 compared to $13,444,000 a year ago. Net income was $4,819,000 compared to $4,757,000 a year ago. Net income attributable to common shareholders was $2,667,000 or $0.04 per diluted share compared to $2,605,000 or $0.05 per diluted share a year ago. Core funds from operations (Core FFO) was $8,418,000 or $0.14 per diluted share as compared to $7,043,000 or $0.15 per diluted share for the three months ended March 31, 2014. Adjusted funds from operations (AFFO), was $8,138,000 or $0.14 per diluted share compared to $6,475,000 or $0.14 per diluted share for the three months ended March 31, 2014. For the six months, the company reported rental revenue was $31,636,000 compared to $27,656,000 a year ago. Net operating income was $30,594,000 compared to $26,529,000 a year ago. Net income was $10,242,000 compared to $9,047,000 a year ago. Net income attributable to common shareholders was $5,939,000 or $0.10 per diluted share compared to $4,744,000 or $0.10 per diluted share a year ago. Core funds from operations (Core FFO) was $17,052,000 or $0.29 per diluted share as compared to $13,911,000 or $0.30 per diluted share a year ago. Adjusted funds from operations (AFFO), was $15,993,000 or $0.28 per diluted share compared to $13,177,000 or $0.29 per diluted share a year ago.

Monmouth Real Estate Investment Corporation Declares Dividends on Common and Preferred Stocks, Payable on June 15, 2015

On April 1, 2015, the Board of Directors of Monmouth Real Estate Investment Corporation declared its quarterly cash dividend on the company's common stock of $0.15 per share payable June 15, 2015, to shareholders of record at the close of business on May 15, 2015. The company's annual dividend rate on its common stock is $0.60 per share. On April 1, 2015, the Board of Directors declared a dividend for the period commencing March 1, 2015 through May 31, 2015, of $0.4765625 per share on the company's 7.625% Series A Cumulative Redeemable Preferred Stock payable June 15, 2015, to shareholders of record at the close of business on May 15, 2015. Series A preferred share dividends are cumulative and payable quarterly at an annual rate of $1.90625 per share. Also on April 1, 2015, the Board of Directors declared a dividend for the period March 1, 2015 through May 31, 2015, of $0.4921875 per share on the company's 7.875% Series B Cumulative Redeemable Preferred Stock payable June 15, 2015, to shareholders of record at the close of business on May 15, 2015. Series B preferred share dividends are cumulative and payable quarterly at an annual rate of $1.96875.

Monmouth Real Estate Investment Corp., Annual General Meeting, May 14, 2015

Monmouth Real Estate Investment Corp., Annual General Meeting, May 14, 2015., at 16:00 US Eastern Standard Time. Location: Juniper Business Plaza, 3499 Route 9 North. Agenda: To elect four Directors, each to hold office until the Company’s annual meeting of shareholders in 2018 and until his or her successor is duly elected and qualifies; to consider and vote upon the ratification of the appointment of PKF O’Connor Davies as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2015; to consider and vote upon a non-binding shareholder proposal regarding the voting standard for the election of the Company’s directors, if properly presented at the Annual Meeting; and to transact such other business as may properly come before the Annual Meeting and any adjournments or postponements thereof.

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