Mach Natural Resources - MNR STOCK NEWS

Monmouth Real Estate Investment Corporation (NYSE:MNR) has received an unsolicited acquisition proposal from Blackwells Capital LLC to buy all outstanding shares for $18.00 each, reflecting a 5.9% premium on the closing stock price as of December 18, 2020. This proposal follows an earlier offer of $16.75 per share made on December 1, 2020, which was deemed inadequate by Monmouth's Board. The Board, along with financial advisors, will review the new proposal and is committed to acting in the best interests of the company and its shareholders.

Monmouth Real Estate Investment Corporation (NYSE:MNR) has acquired a 487,900 square foot industrial property in Plain City, OH, for $73.3 million. The property, net-leased to FedEx Ground for 15 years, is located on approximately 100 acres and is strategically positioned near Interstate 270. This acquisition aligns with the company's focus on the growing e-commerce sector, which has seen accelerated demand due to the Covid-19 pandemic. Additionally, MNR's occupancy rate increased from 99.4% to 99.6% after leasing a vacant building to an investment-grade tenant.

Monmouth Real Estate Investment Corporation (NYSE:MNR) reported a net loss of $48.6 million or $0.50 per diluted share for the fiscal year ending September 30, 2020, a stark contrast to a net income of $11 million or $0.12 per diluted share in 2019. This decline was primarily attributed to $77.4 million in unrealized losses following an accounting rule change. Funds from Operations (FFO) decreased to $78.5 million from $81.2 million year-over-year, while Adjusted Funds from Operations (AFFO) fell to $76.9 million from $79.7 million. Despite challenges, the company maintained a robust portfolio occupancy at 99.4% and expects future growth from its acquisition pipeline.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced that its leadership team, including President and CEO Michael P. Landy, will participate in Nareit’s REITworld: 2020 Virtual Annual Conference on November 17, 2020, at 9:30 a.m. ET. The presentation will be available live and on-demand for registered participants. Founded in 1968, Monmouth specializes in single-tenant, net-leased industrial properties, and boasts a portfolio of 119 properties across 31 states, totaling approximately 23.4 million rentable square feet, with an impressive occupancy rate of 99.4%.

Monmouth Real Estate Investment Corporation (NYSE:MNR) will host a financial results webcast on November 24, 2020, at 10:00 a.m. ET. This meeting follows the release of its Fourth Quarter and Fiscal Yearend 2020 financial results on November 23, 2020, after market close. The company, specializing in single-tenant net-leased industrial properties, has a portfolio of 119 properties with 23.4 million rentable square feet and a high occupancy rate of 99.4%. Investors can access the webcast through the company’s website.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced a $0.17 quarterly cash dividend on common stock, payable on December 15, 2020, to shareholders of record as of November 16, 2020. This leads to an annual dividend rate of $0.68 per share. Additionally, a dividend of $0.3828125 per share on the 6.125% Series C Cumulative Redeemable Preferred Stock will also be paid on the same date. Monmouth, a leader in single tenant, net-leased industrial properties, boasts a 99.4% occupancy rate across its 119 properties totaling 23.4 million rentable square feet.

Monmouth Real Estate Investment Corporation (NYSE:MNR) announced the acquisition of a 120,780 square foot industrial building in Oklahoma City for $15.2 million, net-leased to Amazon.com Services for a 10-year term. The facility, located on approximately 22 acres near The Will Rogers International Airport, is expected to enhance Monmouth’s portfolio, which boasts 99.4% occupancy. The company emphasizes its strong tie to the digital economy amid a rising trend in e-commerce sales, which increased by 44.5% year-over-year.

Monmouth Real Estate Investment Corporation (NYSE:MNR) reported a strong recovery in Q3 2020, with net income attributable to common shareholders of $26.9 million ($0.27/share), up from a loss of $3.1 million a year earlier. FFO decreased slightly to $19.7 million ($0.20/share) compared to $19.9 million last year. The company maintained occupancy at 99.4% and demonstrated resilience with 99.6% rent collection in July. The firm reported a $19.6 million unrealized gain on securities and has committed to acquiring new properties worth $218.7 million, supported by a strong balance sheet and favorable lease terms.

Monmouth Real Estate Investment Corporation (NYSE: MNR) announced a quarterly cash dividend of $0.17 per share on July 1, 2020, payable on September 15, 2020. Shareholders must be on record by August 17, 2020. The annual rate is $0.68.

Additionally, a dividend of $0.3828125 per share for the Series C Preferred Stock was declared, with an annual rate of $1.53125, also payable on September 15. Monmouth focuses on single-tenant, net-leased industrial properties, boasting a portfolio of 118 properties across 31 states.