Monmouth Real Estate Investment Corporation — Preferred Stock Offering
Company: Monmouth Real Estate Investment Corporation
Date announced: 3/6/2017
Shares Offered: 3,000,000
Date of Pricing: 3/6/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Monmouth Real Estate Investment Corporation (NYSE:MNR) (the "Company"), a real estate investment trust (REIT) specializing in single-tenant, net-leased industrial properties, today announced that it has commenced an underwritten public offering of its 6.125% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"). The Series C Preferred Stock is listed for trading on the New York Stock Exchange under the symbol "MNRprC." -updated 3/6- Monmouth Real Estate Investment Corporation (NYSE: MNR) (the "Company"), a real estate investment trust (REIT) specializing in single-tenant, net-leased industrial properties, today announced that it has priced a public offering of 3,000,000 shares of its 6.125% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference of $25.00 per share, at a public offering price of $24.50 per share, before underwriting discounts. In connection with the offering, the Company has granted the underwriters an option for 30 days to purchase up to 450,000 additional shares of Series C Preferred Stock to cover overallotments, if any. The Series C Preferred Stock is listed for trading on the New York Stock Exchange under the symbol "MNRprC." The offering is subject to customary closing conditions and is expected to close on or about March 9, 2017.
Monmouth Real Estate Investment is a real estate investment trust (REIT). Co.'s business is the ownership of real estate. Co.'s investment focus is to own single tenant, industrial buildings, leased to investment-grade tenants or their subsidiaries. Co. also owns a portfolio of REIT investment securities. At Sep 30 2016, Co. held investments in 99 properties located in 30 states: 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, Virginia, Washington and Wisconsin.
