MONMOUTH REAL ESTATE INVESTMENT CORPORATION PUBLISHES FISCAL 2020 ANNUAL REPORT

HOLMDEL, N.J., Jan. 19, 2021 (GLOBE NEWSWIRE) -- Monmouth Real Estate Investment Corporation (NYSE: MNR) (“Monmouth” or the “Company”) today announced that its Fiscal 2020 Annual Report is now available on the Company’s website at: http://www.mreic.reit/annualreport2020/

For its 2020 fiscal year, the Company:

• Significantly outperformed the MSCI US REIT Index.
• Extended the Company’s long track record of profitable growth and superior shareholder value creation, delivering total returns of 972%, 207%, 81% and 1% over the 20, 10, 5 and 1 year periods ending on September 30, 2020, respectively.
• Achieved the highest occupancy rate in the sector at 99.4%, increased to 99.7% thus far in fiscal 2021.
• Completed five acquisitions totaling $175.1 million.
• Thus far in fiscal 2021, completed two acquisitions totaling $170.0 million, advanced substantial parking expansions and further increased occupancy, which together will meaningfully drive earnings and cash flow growth in fiscal 2021 and beyond.

In addition, Monmouth is now in its 30^th consecutive year of maintaining or increasing its dividend. As previously announced on January 14, 2021, the Monmouth Board of Directors increased the Company’s quarterly dividend by 5.9% to $0.18 per share. This represents the Company’s third dividend increase in the past five years, totaling a 20% increase in that span. The dividend is payable on March 15, 2021 to stockholders of record as of the close of business on February 16, 2021.

"We’re proud to have completed fiscal year 2020 with outstanding operating and financial performance and are excited to build on this momentum in fiscal 2021 and beyond," said Michael P. Landy, President and CEO. "We have great confidence in our strategy, proven business model and unique approach to profitably serving our ecommerce-oriented tenants. We are committed to taking decisive actions to drive our next phase of growth and continue delivering substantial and sustainable long-term value creation for our stockholders. We hope you’ll take the time to review our new annual report."

About Monmouth Real Estate

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%.