MONMOUTH REAL ESTATE INVESTMENT CORP - FORM 10-K - EX-12 - STATEMENT OF COMPUTATION OF RATIOS - December 9, 2015

Attached files

file	filename
EX-23 - CONSENT OF PKF O CONNOR DAVIES, A DIVISION OF O CONNOR DAVIES, LLP - MONMOUTH REAL ESTATE INVESTMENT CORP	ex23.htm
EX-32 - CERTIFICATION OF MICHAEL P. LANDY, PRESIDENT AND CHIEF EXECUTIVE OFFICER - MONMOUTH REAL ESTATE INVESTMENT CORP	ex32.htm
EX-31.1 - CERTIFICATION OF MICHAEL P. LANDY, PRESIDENT AND CHIEF EXECUTIVE OFFICER - MONMOUTH REAL ESTATE INVESTMENT CORP	ex31_1.htm
EX-21 - SUBSIDIARIES OF THE REGISTRANT - MONMOUTH REAL ESTATE INVESTMENT CORP	ex21subs.htm
10-K - ANNUAL REPORT - MONMOUTH REAL ESTATE INVESTMENT CORP	monmouth_10k.htm
EX-31.2 - CERTIFICATION OF KEVIN S. MILLER, CHIEF FINANCIAL OFFICER OF THE COMPANY - MONMOUTH REAL ESTATE INVESTMENT CORP	ex31_2.htm

MONMOUTH REAL ESTATE INVESTMENT CORPORATION AND SUBSIDIARIES

COMPUTATION OF CONSOLIDATED RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DISTRIBUTIONS

		Fiscal Years Ended September 30,
		2015				2014				2013				2012				2011
Earnings before Fixed Charges:
Net Income from Continuing Operations		$	20,584,573			$	19,845,294			$	21,103,686			$	18,699,765			$	15,263,380
Interest Expense			18,558,150				16,104,678				14,956,954				15,352,499				14,870,906
Amortization of Financing Costs			1,286,016				725,745				647,112				630,969				457,279
Total Earnings before Fixed Charges		$	40,428,739			$	36,675,717			$	36,707,752			$	34,683,233			$	30,591,565

Fixed Charges & Preferred Stock Dividends:
Interest Expense		$	18,558,150			$	16,104,678			$	14,956,954			$	15,352,499			$	14,870,906
Amortization of Financing Costs			1,286,016				725,745				647,112				630,969				457,279
Preferred Dividends			8,607,032				8,607,032				8,607,032				5,513,126				4,079,219
Total Fixed Charges & Preferred Share Dividends		$	28,451,198			$	25,437,455			$	24,211,098			$	21,496,594			$	19,407,404

Fixed Charge Coverage Ratio			1.4	x			1.4	x			1.5	x			1.6	x			1.6	x