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Monmouth Real Estate Investment Corp | 7.875% Series B Cumulative Redeemable Preferred Stock (MNR.PRB)

Prospectus excerpt:  Monmouth Real Estate Investment Corporation is offering 2,000,000 shares of our 7.875% Series B Cumulative Redeemable Preferred Stock, which we refer to in this prospectus as the Series B Preferred Stock. We have granted the underwriters an option to purchase up to 300,000 additional shares of Series B Preferred Stock to cover overallotments, if any.

We intend to pay cumulative dividends on the Series B Preferred Stock from (and including) June 7, 2012, in the amount of $1.96875 per share each year, which is equivalent to 7.875% of the $25.00 liquidation preference per share. Dividends will be payable quarterly in arrears on March 15, June 15, September 15 and December 15 of each year (or, if not a business day, then the next business day), beginning on September 17, 2012, to the holders of record on the applicable record date. The Series B Preferred Stock has no stated maturity, is not subject to any sinking fund or mandatory redemption, and will remain outstanding indefinitely unless redeemed or otherwise repurchased. Except in limited circumstances relating to our qualification as a real estate investment trust for federal income tax purposes, or REIT, and as described in this prospectus, the Series B Preferred Stock is not redeemable prior to June 7, 2017. On and after June 7, 2017, we may at our option redeem any or all of the outstanding shares of Series B Preferred Stock, at a cash redemption price per share of $25.00 plus all accumulated and unpaid dividends thereon (whether or not declared) to, but not including, the redemption date.

Full Prospectus PDF », MNR Page »

Series:B
Alternate symbology:MNR-B, MNR-PB, MNRprB
Redeemable?:Yes
Call Date:6/7/2017 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:2,000,000
Overallotment:300,000
Liquidation Preference:$25
Original Coupon:7.88%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn MNR.PRB's Rating
Monmouth Real Estate Investment is a real estate investment trust (REIT). Co.'s main business is the ownership and management of real estate. Co.'s investment focus is to own single-tenant, industrial buildings, leased to investment-grade tenants or their subsidiaries on long-term net leases. Co. also invests in securities of other REITs. Co. holds investments in Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington and Wisconsin.

Preferreds: MNR.PRA, MNR.PRB, MNR.PRC


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Name: 
Monmouth Real Estate Investment Corp
Website: 
www.mreic.reit
Sector: 
REITs
Number of ETFs Holding MNR: 
30 (see which ones)
Total Market Value Held by ETFs: 
$265,904,044.67
Total Market Capitalization: 
$2,056,000,000
% of Market Cap. Held by ETFs: 
12.93%

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