Today, Monmouth Real Estate Investment Corp. – 6.125% PRF PERPETUAL USD 25 – Ser C Inc’s (NYSE: MNR-C) stock gained $0.01, accounting for a 0.04% increase. Monmouth Real Estate – 6.125% PRF PERPETUAL USD 25 – Ser C opened at $25.10 before trading between $25.12 and $25.10 throughout Thursday’s session. The activity saw Monmouth Real Estate – 6.125% PRF PERPETUAL USD 25 – Ser C’s market cap rise to $1,856,685,076 on 16,639 shares -below their 30-day average of 69,021.

Visit Monmouth Real Estate Investment Corp. – 6.125% PRF PERPETUAL USD 25 – Ser C’s profile for more information.

About The New York Stock Exchange

The New York Stock Exchange is the world’s largest stock exchange by market value at over $26 trillion. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals. 63% of SPAC proceeds in 2020 were raised on the NYSE, including the six largest transactions.

To get more information on Monmouth Real Estate Investment Corp. – 6.125% PRF PERPETUAL USD 25 – Ser C and to follow the company’s latest updates, you can visit the company’s profile page here: Monmouth Real Estate Investment Corp. – 6.125% PRF PERPETUAL USD 25 – Ser C’s Profile. For more news on the financial markets be sure to visit Equities News. Also, don’t forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week.

Sources: Chart is provided by TradingView based on 15-minute-delayed prices. All other data is provided by IEX Cloud as of 8:05 pm ET on the day of publication.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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MNR – Market Data & News

Trade

Today, Monmouth Real Estate Investment Corp. – Class A Inc’s (NYSE: MNR) stock fell $0.19, accounting for a 1.01% decrease. Monmouth Real Estate opened at $18.90 before trading between $18.94 and $18.68 throughout Thursday’s session. The activity saw Monmouth Real Estate’s market cap fall to $1,837,268,249 on 6,124,503 shares -above their 30-day average of 666,281.

About Monmouth Real Estate Investment Corp. – Class A

Monmouth Real Estate Investment Corporation, founded in 1968, is one of the oldest public equity REITs in the world. The Company specializes in single tenant, net-leased industrial properties, subject to long- term leases, primarily to investment-grade tenants. Monmouth Real Estate Investment Corporation is a fully integrated and self-managed real estate company, whose property portfolio consists of 121 properties containing a total of approximately 24.5 million rentable square feet, geographically diversified across 31 states. The Company’s occupancy rate as of this date is 99.7%.

Visit Monmouth Real Estate Investment Corp. – Class A’s profile for more information.

About The New York Stock Exchange

The New York Stock Exchange is the world’s largest stock exchange by market value at over $26 trillion. It is also the leader for initial public offerings, with $82 billion raised in 2020, including six of the seven largest technology deals. 63% of SPAC proceeds in 2020 were raised on the NYSE, including the six largest transactions.

To get more information on Monmouth Real Estate Investment Corp. – Class A and to follow the company’s latest updates, you can visit the company’s profile page here: Monmouth Real Estate Investment Corp. – Class A’s Profile. For more news on the financial markets be sure to visit Equities News. Also, don’t forget to sign-up for the Daily Fix to receive the best stories to your inbox 5 days a week.

Sources: Chart is provided by TradingView based on 15-minute-delayed prices. All other data is provided by IEX Cloud as of 8:05 pm ET on the day of publication.

DISCLOSURE:
The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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Harrison Street has announced the closing of a dedicated fund targeting Canadian markets for new senior living, student housing, medical office, life science storage and digital assets.

The Harrison Street Canada Alternative Real Estate Fund recently completed its first closing, with an expected initial investment capacity of over 550 million Canadian dollars, or just over $433 million at today’s exchange rates. Through the fund, Harrison Street plans to invest in “stabilized, cash-flow producing assets with up to 35% invested in value-add strategies” according to an announcement Thursday.

The company estimates that roughly a third of the portfolio’s investments will lie in senior living.

Harrison Street Co-Founder, Chairman and CEO Christopher Merrill noted that the expansion into the Canadian market is a “natural evolution” for the Chicago-based private real estate investment management firm.

“We are thrilled to bring our deep expertise and track record to the Canadian market,” Merrill said in the announcement. “Demographic characteristics in Canada are like those we see in the United States, however, alternative real estate remains underdeveloped compared to the U.S. market.”

The Fund has already garnered capital commitments from investors, including “prominent Canadian family offices” such as the Hennick Family. Jay Hennick is the chairman, CEO and largest shareholder of Colliers International, which in 2018 acquired a 75% stake in Harrison Street.

Harrison Street plans to grow its business in Canada by establishing relationships with local developers and operators. That is similar to how it has grown in the U.S., according to Jonathan Turnbull, managing director and head of Canadian Transactions for Harrison Street.

“We have a robust and actionable pipeline of off-market opportunities with multiple partners across our sectors of focus and several investments, closing in the near term, are in partnership with operators who are new to the Harrison Street platform,” he said in the announcement. “Additionally, our strategic alignment with Colliers, one of the top global players in commercial real estate will further amplify our reach into the market.”

It has been a busy year for Harrison Street. The company raised money in late 2020 with the overall goal of building a fund worth up to $2 billion to deploy this year. In June, the firm acquired a 24-property portfolio operated by Oakmont Senior Living for about $1.2 billion.

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More recently, Harrison Street announced it had forged a joint-venture project with Anthology Senior Living to develop three senior living communities in Massachusetts and Florida.

Real estate investment trusts (Reits) and infrastructure investment trusts (InvITs) will be part of Nifty indices from 30 September. The National Stock Exchange (NSE) has included Reits and InvITs in the most popular indices such as NSE 500, Nifty Midcap 150 and Nifty Smallcap 250.

Currently, there are three Reits listed on Indian bourses—Embassy Office Parks, Brookfield India Real Estate Trust and Mindspace Business Park Reits. Also, there are two InvITs—India Grid Trust and IRB InvIT. Recently, the Securities and Exchange Board of India (Sebi) had brought in certain regulatory changes, which have made this possible.

In July, the regulator revised the regulations to reduce the trading lot size of Reits from 200 units to 1 unit, bringing them on a par with equities. The inclusion of Reits in the indices will enable greater participation in Reits.

“With approximately more than ₹16,500 crore of primary Reit equity having listed in India in the last two years, and the recent trading lot reduction announcement, the Reit asset class gives access for retail investors to the Indian commercial office space growth story. The Nifty index inclusion gives additional momentum through passive funds further diversifying the sources of investor capital,” said Mike Holland, chief executive officer, Embassy REIT.

“We believe that the Reit framework, with high levels of transparency and governance, together with Embassy REIT’s proven record on regular distributions and total return, will continue to appeal to investors and index inclusion with NSE is a welcome recognition of the Reit asset class in India,” added Holland.

This would enable wider investor participation in Reits and consequently increased volumes, liquidity and better price discovery.

“Reits merit to be on the Nifty indices, and this move will assist in widening investor participation for Reits at par with other equity options in India,” said Vinod Rohira, CEO, Mindspace Business Parks REIT.

Reits are a good product for someone looking for exposure in commercial real estate and is willing to remain invested for long. By investing in Reits, the investor can get some predictable returns in terms of dividend and also benefit from the appreciation of share price.

Sebi regulations require Reits to invest 80% of their assets in developed and income-generating assets. Currently, Reits are allowed to invest only in commercial real estate and office spaces.

They need to distribute 90% of the rental income as dividends. Reits also receive interest income from special purpose vehicles (SPVs) through which they hold properties. They lend money to SPVs and distribute the interest income among unitholders.

Reits are a good portfolio diversifier.

“Their comparatively low correlation with other assets makes Reits an excellent portfolio diversifier, which can help in increasing returns and reducing overall portfolio risk. Their inclusion in Nifty indices will assist in widening investor’s participation and will consequently increase volumes, liquidity and better price discovery,” said Palka Chopra, senior vice president, Master Capital Services.

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