Corporate News Blog – Monmouth Announces New Acquisition in the Dallas Area; Set to Expand Real Estate Offerings

LONDON, UK / ACCESSWIRE / June 27, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Monmouth Real Estate Investment Corp. (NYSE: MNR), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=MNR. The Company, which is one of the oldest Real Estate Investment Trust in the US, announced on June 23, 2017, that it has entered into a definitive agreement to acquire about 65 acres of land in Texas. The property is a Class A industrial building where the purchase amount is set at $50,621,072. For the last 15 years, this property was leased to FedEx Ground Packaging System. The acquired property is located just eight miles from Dallas. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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About the Acquisition

This property had been a Town Mall initially, and it had been the very first as well as the largest mall in Texas. Monmouth plans to develop each FedEx location to be equally desirable for large businesses which would eventually deliver greater scale to both Companies. This step is being undertaken by Monmouth to grow strategically and follow its concept of one high-quality asset development at a time.

Monmouth primarily deals in real estate business where it operates through owning the single tenants, investment-grade tenants and their subsidiaries, and other properties. Monmouth’s long-term relationship with FedEx continues to pay dividends for shareholders, with a quarterly distribution yielding 6.5% presently and has primarily shown this huge growth during the past three years due to its relationship with the expansive courier facility. Monmouth has also shown interest in a lot of industrial buildings, which has paved its way to being listed among the leading real estate players. Currently, Monmouth has over 51% of its portfolio leased to FedEx or its subsidiaries.

Previous Acquisitions

On November 25, 2014, Monmouth Corporation announced the acquisition of a 158,417 square foot or 13.1 acres land in Kansas City. This property was purchased for $9,635,770 and was net-leased to Bunzl Distribution Inc., a Missouri Corporation for 7 years.

On December 30, 2016, Monmouth announced the acquisition of a new 213,672 square foot, 22-acres industrial building in Fort Myers, Florida. This acquisition was completed at a price of $21,001,538. Currently, the building is leased to FedEx Ground Packaging System.

Post the current acquisition, on April 07, 2017, Monmouth announced the acquisition of a 343,483 square-foot FedEx shipping terminal in Michigan for $32.12 million. Post this acquisition, Monmouth has built 104 loading docks, a vehicle maintenance facility, a 500-space employee parking lot, as well as a 300 trailer storage space over this 8-acre building which was completed in 2016. Now it has been fully leased to FedEx Ground Packaging for 15 years.

Monmouth’s Growth Portfolio

Monmouth has been publicly trading since 1968 and has shown tremendous growth in the past few years. It has approximately 100 properties over 30 states and rented approximately 16.6 million square feet. The most recent and major project which boosted its growth was the expansion of Panama Canal. This project created a huge demand for Monmouth’s industrial space and projected that its online sales will cross $500 billion in 2017.

Along with this, Monmouth also has an acquisition pipeline which is about 3 million square feet. This pipeline is going to come online in 2017 with merchant builders. Monmouth’s current occupancy rate is 100 percent and has long-term leases to invest-grade tenants. Such high occupancy results into consistently strong performance. Since 2010, its market capitalization growth has tripled and is now 237%. Monmouth’s total 20-year return from the business is about 1,024% which makes it the number one performing industrial Real Estate Investment Trust. It mostly invests in properties near airports, transportation hubs, and manufacturing plants.

Last Close Stock Review

On Monday, June 26, 2017, the stock closed the trading session at $15.01, slightly rising 0.40% from its previous closing price of $14.95. A total volume of 249.65 thousand shares have exchanged hands. Monmouth Real Estate Investment’s stock price advanced 0.33% in the last one month, 6.68% in the past three months, and 1.76% in the previous six months. The stock is trading at a PE ratio of 47.50 and has a dividend yield of 4.26%. The stock currently has a market cap of $1.09 billion.

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