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Monmouth: Fiscal 4Q Earnings Snapshot

·1 min read

HOLMDEL, N.J. (AP) _ Monmouth Real Estate Investment Corp. (MNR) on Monday reported a key measure of profitability in its fiscal fourth quarter. The results did not meet Wall Street expectations.

The Holmdel, New Jersey-based real estate investment trust said it had funds from operations of $18.2 million, or 19 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 21 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $3.9 million, or 4 cents per share.

The industrial real estate investment trust posted revenue of $42.6 million in the period.

For the year, the company reported funds from operations of $76.9 million. Revenue was reported as $167.8 million.

The company's shares have decreased slightly since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.45, a drop of 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MNR at https://www.zacks.com/ap/MNR

The Associated Press