Monmouth Real Estate Investment Corporation
MNR-PC
New York Stock Exchange25.31
USD
+0.03
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Monmouth Real Estate Investment Corporation
MNR-PC
(New York Stock Exchange)
Recent
price
25.31
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Monmouth Real Estate Investment Corporation is a real estate investment trust (REIT) specializing in the ownership of single-tenant, net-leased industrial properties primarily leased to investment-grade tenants or their subsidiaries on long-term leases. The company owns a portfolio of approximately 121 properties comprising about 24.5 million rentable square feet, geographically diversified across 31 states in the United States. Its properties are predominantly Class A industrial assets focused on e-commerce, logistics, and distribution, with tenants that include investment-grade companies. Monmouth's portfolio features a weighted average lease term of approximately eight years and a high occupancy rate, reflecting strong tenant credit quality and lease stability. Founded in 1968 and headquartered in Holmdel, New Jersey, Monmouth is one of the oldest public equity REITs in the U.S. It operates as a fully integrated and self-managed real estate company targeting industrial real estate. The company’s industrial buildings support the growing demand driven by omni-channel distribution and e-commerce, serving key markets for consumer goods and logistics. A major recent change is Monmouth’s acquisition by Industrial Logistics Properties Trust (ILPT), which was completed in February 2022 after shareholder approval. This transaction was valued at $21.00 per share in an all-cash deal. The acquisition expanded ILPT’s scale and geographic reach by integrating Monmouth’s 126 industrial properties, enhancing tenant and market diversity. Following this acquisition, ILPT entered a joint venture for 95 of Monmouth’s properties, maintaining substantial exposure to these assets while optimizing capital structure. This strategic consolidation positions the combined entity for growth amid favorable industrial real estate market trends. Thus, Monmouth Real Estate Investment Corporation provides institutional-quality industrial real estate with a focus on single-tenant, net-leased assets nationwide, and its recent acquisition marks a significant strategic shift within the industrial REIT sector.