MONMOUTH REAL ESTATE INVESTMENT CORPORATION PUBLISHES FISCAL 2020 ANNUAL REPORT
January 19 2021 - 5:32PM
Monmouth Real Estate Investment Corporation (NYSE: MNR) (“Monmouth”
or the “Company”) today announced that its Fiscal 2020 Annual
Report is now available on the Company’s website at:
http://www.mreic.reit/annualreport2020/
For its 2020 fiscal year, the Company:
- Significantly outperformed the MSCI US REIT Index.
- Extended the Company’s long track
record of profitable growth and superior shareholder value
creation, delivering total returns of 972%, 207%, 81% and 1% over
the 20, 10, 5 and 1 year periods ending on September 30, 2020,
respectively.
- Achieved the highest occupancy rate
in the sector at 99.4%, increased to 99.7% thus far in fiscal
2021.
- Completed five acquisitions totaling $175.1 million.
- Thus far in fiscal 2021, completed two acquisitions totaling
$170.0 million, advanced substantial parking expansions and further
increased occupancy, which together will meaningfully drive
earnings and cash flow growth in fiscal 2021 and beyond.
In addition, Monmouth is now in its 30th
consecutive year of maintaining or increasing its dividend. As
previously announced on January 14, 2021, the Monmouth Board of
Directors increased the Company’s quarterly dividend by 5.9% to
$0.18 per share. This represents the Company’s third dividend
increase in the past five years, totaling a 20% increase in that
span. The dividend is payable on March 15, 2021 to stockholders of
record as of the close of business on February 16, 2021.
"We’re proud to have completed fiscal year 2020
with outstanding operating and financial performance and are
excited to build on this momentum in fiscal 2021 and beyond," said
Michael P. Landy, President and CEO. "We have great confidence in
our strategy, proven business model and unique approach to
profitably serving our ecommerce-oriented tenants. We are committed
to taking decisive actions to drive our next phase of growth and
continue delivering substantial and sustainable long-term value
creation for our stockholders. We hope you’ll take the time to
review our new annual report."
About Monmouth Real Estate
Monmouth Real Estate Investment Corporation,
founded in 1968, is one of the oldest public equity REITs in the
world. The Company specializes in single tenant, net-leased
industrial properties, subject to long-term leases, primarily to
investment-grade tenants. Monmouth Real Estate Investment
Corporation is a fully integrated and self-managed real estate
company, whose property portfolio consists of 121 properties
containing a total of approximately 24.5 million rentable square
feet, geographically diversified across 31 states. The Company’s
occupancy rate as of this date is 99.7%.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, Section 21E of the Securities Exchange Act of
1934, as amended, and the Private Securities Litigation Reform Act
of 1995. Forward-looking statements provide the Company’s current
expectations or forecasts of future events. Forward-looking
statements include statements about the Company’s expectations,
beliefs, intentions, plans, objectives, goals, strategies, future
events, performance and underlying assumptions and other statements
that are not historical facts. You can identify forward-looking
statements by their use of forward-looking words, such as “may,”
“will,” “anticipate,” “expect,” “believe,” “intend,” “plan,”
“should,” “seek” or comparable terms, or the negative use of those
words, but the absence of these words does not necessarily mean
that a statement is not forward-looking. The forward-looking
statements are based on the Company’s beliefs, assumptions and
expectations of its future performance, taking into account all
information currently available to it. Forward-looking statements
are not predictions of future events. These beliefs, assumptions
and expectations can change as a result of many possible events or
factors, not all of which are known to the Company. Some of these
factors are described under the headings “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” as included in the Company’s Annual Report
on Form 10-K for the fiscal year ended September 30, 2020 and its
other periodic reports filed with the Securities and Exchange
Commission, which are accessible on the Securities and Exchange
Commission’s website at www.sec.gov. These factors should not be
construed as exhaustive and should be read in conjunction with
other cautionary statements that are included in the filings. These
and other risks, uncertainties and factors could cause the
Company’s actual results to differ materially from those included
in any forward-looking statements it makes. Any forward-looking
statement speaks only as of the date on which it is made. New risks
and uncertainties arise over time, and it is not possible for the
Company to predict those events or how they may affect it. Except
as required by law, the Company is not obligated to, and does not
intend to, update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. You
should not place undue reliance on these forward-looking
statements, as events described or implied in such statements may
not occur.
Contacts:
Investors: Becky Coleridge 732-810-0907
Bruce Goldfarb/Chuck Garske/Teresa Huang Okapi Partners
212-297-0720 info@okapipartners.com
Media: Andrew Siegel/Jim Golden Joele Frank 212-355-4449
- Monmouth Real Estate Investment Corporation
Mach Natural Resources (NYSE:MNR)
Historical Stock Chart
From Mar 2024 to Apr 2024
Mach Natural Resources (NYSE:MNR)
Historical Stock Chart
From Apr 2023 to Apr 2024