Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
LANDY EUGENE W
   2. Issuer Name and Ticker or Trading Symbol
MONMOUTH REAL ESTATE INVESTMENT CORP [MNRTA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President
(Last)
(First)
(Middle)
JUNIPER BUSINESS PLAZA, SUITE 3-C, 3499 RT. 9 NORTH		 3. Date of Earliest Transaction (Month/Day/Year)
12/15/2008
(Street)

FREEHOLD, NJ 07728		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
MNRTA Common Stock               534,003.182 (1) D  
MNRTA Common Stock               120,629.234 (2) I Spouse
MNRTA Common Stock               173,913.938 (3) I Landy & Landy Employees' Pension Plan
MNRTA Common Stock               204,479.94 (4) I Landy & Landy Employees' Profit Sharing Plan
MNRTA Common Stock               86,200 I Eugene W. and Gloria Landy Family Foundation
MNRTA Common Stock               13,048 I Landy Investments
MNRTA Common Stock               5,000 I Juniper Plaza Associates

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Qualified Stock Option to Purchase Common Stock $ 7.25             10/20/2009 10/20/2016 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 8.22             12/12/2008 12/12/2015 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 5.04             04/04/2002 10/04/2009 MNRTA Common Stock 32,750   32,750 D  
Qualified Stock Option to Purchase Common Stock $ 8.7             09/21/2006 09/21/2013 MNRTA Common Stock 16,375   16,375 D  
Qualified Stock Option to Purchase Common Stock $ 8.05             01/22/2008 01/22/2015 MNRTA Common Stock 16,375   16,375 D  
Qualified Stock Option to Purchase Common Stock $ 8.15             08/02/2007 08/02/2014 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 7.13             06/21/2003 06/21/2010 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 6.9             01/22/2004 01/22/2011 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 7.89             08/03/2005 08/03/2012 MNRTA Common Stock 65,000   65,000 D  
Qualified Stock Option to Purchase Common Stock $ 8.28             08/10/2006 08/10/2013 MNRTA Common Stock 65,000   65,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
LANDY EUGENE W
JUNIPER BUSINESS PLAZA, SUITE 3-C
3499 RT. 9 NORTH
FREEHOLD, NJ 07728		   X   X   President  

Signatures

 Eugene W. Landy   12/16/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 9,136.993 shares acquired in December under the MNRTA Dividend Reinvestment and Stock Purchase Plan.
(2) Includes 2,635.155 shares acquired in December under the MNRTA Dividend Reinvestment and Stock Purchase Plan.
(3) Includes 1,599.286 shares acquired in December under the MNRTA Dividend Reinvestment and Stock Purchase Plan.
(4) Includes 2,605.791 shares acquired in December under the MNRTA Dividend Reinvestment and Stock Purchase Plan.

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