SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 20)*
Monmouth Real Estate Investment Corporation
(Name of Issuer)
Common Stock
(Title of Class of Security)
609720107
(CUSIP Number)
Check the following box if a fee is being paid with this
statement _____. (A fee is not required only if the filing
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of such class.) (See Rule 13d-7.)
*The remainder of this cover page shall be filled out for a
reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent
amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section
18 of the Securities Exchange Act of 1934 ("Act") or
otherwise subject to the liabilities of that section of the
Act but shall be subject to all other provisions of the Act
(however, see the Notes).
(Continued on following page(s))
Page 1 of 3 Pages
CUSIP No. 11-1897375 13G Page 2 of 3 Pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eugene W. Landy S.S. #150-24-4993
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) _____
(b) X
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Mr. Landy is a United States citizen.
5. SOLE VOTING POWER
214,504.6237 Direct
79,095.7158 Wife
NUMBER OF 6. SHARED VOTING POWER
SHARES 161,764.6727 E.W. Landy Profit Sharing
BENEFICIALLY 126,585.1955 E.W. Landy Pension Plan
OWNED BY 60,000.0000 E.W. & Gloria Landy Family
Foundation
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
PERSON 214,504.6237 Direct
WITH 79,095.7158 Wife
8. SHARED DISPOSITIVE POWER
161,764.6727 E.W. Landy Profit Sharing
126,585.1955 E.W. Landy Pension Plan
60,000.0000 E.W. & Gloria Landy Family
Foundation
CUSIP No. 11-1897375 13G Page 3 of 3 Pages
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
214,504.6237 Direct 348,349.8682 Trustee
79,095.7158 Wife Total: 641,950.2077*
*Does not include (a) 65,000 shares on which Mr. Landy has
an option to purchase pursuant to the Company's Stock
Option Plan, which option expires on 4/12/05; (b) 65,000
shares on which Mr. Landy has an option to purchase
pursuant to the Company's Stock Option Plan, which option
expires on 10/4/06; (c) 65,000 shares on which Mr. Landy
has an option to purchase pursuant to the Company's Stock
Option Plan, which option expires on 6/21/10; (d) 65,000
shares on which Mr. Landy has an option to purchase
pursuant to the Company's Stock Option Plan, which option
expires on 1/22/11; and (e) 739,218.9828 shares held by
United Mobile Homes, Inc. Eugene W. Landy is Chairman of
the Board of United Mobile Homes, Inc. and owns 13.03% of
United Mobile Homes, Inc. (excluding shares of United
Mobile Homes, Inc. held by Mr. Landy's adult children).
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
Excludes shares held by Mr. Landy's adult children in
which he disclaims any beneficial interest.
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN. ROW 9
4.92%
12. TYPE OF REPORTING PERSON*
Individual.
CERTIFICATION
After reasonable inquiry and to the best of my
knowledge and belief,
I certify that the information set forth in this statement
is true, complete and correct.
Dated: January 24, 2003
/s/ Eugene W. Landy
Eugene W. Landy