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Monmouth Real Estate Investment Corp | 6.125% Series C Cumulative Redeemable Preferred Stock (MNR.PRC)

Prospectus excerpt:  We are offering 5,400,000 shares of our 6.125% Series C Cumulative Redeemable Preferred Stock, $0.01 par value per share, which we refer to in this prospectus supplement as the Series C Preferred Stock. We intend to pay annual, cumulative, cash dividends on the Series C Preferred Stock from (and including) September 13, 2016, in the amount of $1.53125 per share, which is equivalent to 6.125% 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 December 15, 2016, to the holders of record on the applicable record date. The Series C 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 supplement, the Series C Preferred Stock is not redeemable before September 15, 2021. On and after September 15, 2021, we may at our option redeem any or all of the outstanding shares of Series C 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:C
Alternate symbology:MNR-C, MNR-PC, MNRprC
Redeemable?:Yes
Call Date:9/15/2021 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:5,400,000
Liquidation Preference:$25
Recent Market Price:$25.20
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.20 (0.80%)
Annualized Dividend:1.53125
Recent Ex-Date:11/12/2021
Current Yield:6.08%
Original Coupon:6.13%
Pay Period:Quarterly
Pay Dates:15-Mar, 15-Jun, 15-Sep, 15-Dec
CDx3 Compliance Rating: Learn MNR.PRC'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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