Monmouth Real Estate Investment Q4 Profit Climbs

(RTTNews) - Monmouth Real Estate Investment Corporation (MNR) reported fourth quarter net income of $3.05 million or $0.06 per share compared with $1.71 million or $0.03 per share in the same quarter a year ago.

Core FFO for the period rose to $7.54 million or $0.13 per share from $5.41 million or $0.12 per share for year ago quarter.

AFFO for the fourth quarter was $6.72 million or $0.12 per share versus $5.35 million or $0.12 per share last year.

Fourth quarter net operating income rose to $13.95 million from $11.66 million in the comparable quarter last year.

Analysts expected the company to report net income of $0.04 per share on revenues of $14.2 million for the period. Analysts' estimates typically exclude one-time items.