Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Thursday, April 25, 11:36 PM
Slide #309. Monmouth Real Estate Investment Corporation — Preferred Stock Offering
Company: |
Monmouth Real Estate Investment Corporation (NYSE:MNR) |
Date announced: |
9/6/2016 |
Shares Offered: |
5,400,000 |
Date of Pricing: |
9/6/2016 |
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 Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"). The Company intends to apply to list the Series C Preferred Stock on the New York Stock Exchange under the symbol "MNRprC." -updated 9/6- 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 5,400,000 shares of its 6.125% Series C Cumulative Redeemable Preferred Stock (the "Series C Preferred Stock"), liquidation preference of $25.00 per share, for estimated gross proceeds of approximately $135,000,000 before deducting the underwriting discount and estimated offering expenses. The Company intends to apply to list the Series C Preferred Stock 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 September 13, 2016. |
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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