Shares of Monmouth R.E. Inv. Corp. (NYSE:MNR) ended Friday session in green amid volatile trading. The shares closed up +0.42 points or 2.98% at $14.50 with 738,801 shares getting traded. Post opening the session at $14.17, the shares hit an intraday low of $14.17 and an intraday high of $14.70 and the price vacillated in this range throughout the day. The company has a market cap of $1.01 billion and the numbers of outstanding shares have been calculated to be 67.71 million shares.
On Aug. 29, 2016 Monmouth R.E. Inv. Corp. (MNR) acquired a new 313,763 square foot industrial building located at 22525 West 167th Street, Olathe, KS at a purchase price of $31,737,000 on August 26, 2016. The property is net-leased for 15 years to FedEx Ground Packaging System, Inc., a Delaware corporation. The building is situated on 45 acres.
Michael P. Landy, President and CEO, commented, “We are very pleased to announce the acquisition of this brand new Class A built-to-suit distribution center leased for 15 years to FedEx Ground. The 45 acre property is situated right off of Interstate 35 and is part of the Kansas City MSA. Due to its central geographic location and intermodal infrastructure, the Kansas City MSA is highly desired by logistics companies. Kansas City is the largest freight rail hub in the nation and this market is expected to continue to experience strong demand for many years to come.”
Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) ended Friday session in green amid volatile trading. The shares closed up +0.03 points or 0.08% at $36.85 with 16,465 shares getting traded. Post opening the session at $36.82, the shares hit an intraday low of $36.78 and an intraday high of $37.09 and the price vacillated in this range throughout the day. The company has a market cap of $647.82 million and the numbers of outstanding shares have been calculated to be 17.57 million shares.
On July 26, 2016, the Board of Directors of Community Trust Bancorp, Inc. (CTBI) increased its quarterly cash dividend to $0.32 per share beginning with the October 1, 2016 payment to shareholders of record on September 15, 2016. This represents an increase of 3.23% in the quarterly cash dividend.