BidaskClub lowered shares of Monogram Residential Trust Inc (NYSE:MORE) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
A number of other research firms also recently commented on MORE. JMP Securities downgraded shares of Monogram Residential Trust from an outperform rating to a market perform rating in a research report on Monday, July 10th. Zacks Investment Research cut shares of Monogram Residential Trust from a hold rating to a sell rating in a report on Thursday, May 11th. BMO Capital Markets restated a buy rating on shares of Monogram Residential Trust in a report on Tuesday, July 4th. Canaccord Genuity set a $11.00 price target on shares of Monogram Residential Trust and gave the company a hold rating in a report on Wednesday, May 10th. Finally, Janney Montgomery Scott cut shares of Monogram Residential Trust from a buy rating to a neutral rating in a report on Thursday, July 13th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Monogram Residential Trust currently has a consensus rating of Hold and an average price target of $11.61.
Shares of Monogram Residential Trust (MORE) traded up 0.50% during midday trading on Wednesday, hitting $11.95. 3,862,506 shares of the stock were exchanged. Monogram Residential Trust has a 12 month low of $9.55 and a 12 month high of $12.00. The firm has a 50 day moving average of $10.48 and a 200-day moving average of $10.22. The stock has a market cap of $2.00 billion, a P/E ratio of 21.34 and a beta of 0.71.
Monogram Residential Trust (NYSE:MORE) last posted its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The company had revenue of $73.34 million during the quarter, compared to analysts’ expectations of $50.96 million. Monogram Residential Trust had a return on equity of 26.25% and a net margin of 101.05%. Equities research analysts anticipate that Monogram Residential Trust will post $0.37 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Wednesday, June 28th. Monogram Residential Trust’s dividend payout ratio (DPR) is 54.55%.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Monogram Residential Trust by 2.5% in the first quarter. Vanguard Group Inc. now owns 25,609,838 shares of the real estate investment trust’s stock valued at $255,330,000 after buying an additional 617,417 shares during the period. Madison International Realty Holdings LLC raised its stake in shares of Monogram Residential Trust by 5.7% in the first quarter. Madison International Realty Holdings LLC now owns 16,655,932 shares of the real estate investment trust’s stock valued at $166,060,000 after buying an additional 903,842 shares during the last quarter. BlackRock Inc. raised its stake in shares of Monogram Residential Trust by 5,557.5% in the first quarter. BlackRock Inc. now owns 14,641,807 shares of the real estate investment trust’s stock valued at $145,980,000 after buying an additional 14,383,005 shares during the last quarter. State Street Corp raised its stake in shares of Monogram Residential Trust by 1.4% in the first quarter. State Street Corp now owns 5,468,644 shares of the real estate investment trust’s stock valued at $54,529,000 after buying an additional 73,575 shares during the last quarter. Finally, Teachers Advisors LLC raised its stake in shares of Monogram Residential Trust by 0.4% in the fourth quarter. Teachers Advisors LLC now owns 2,871,756 shares of the real estate investment trust’s stock valued at $31,072,000 after buying an additional 11,968 shares during the last quarter. 74.58% of the stock is owned by hedge funds and other institutional investors.
Monogram Residential Trust Company Profile
Monogram Residential Trust, Inc is a self-managed real estate investment trust (REIT). The Company invests in, develops and operates multifamily communities offering location and lifestyle amenities. The Company also invests in stabilized operating communities and communities in various phases of development, with a focus on communities in select markets across the United States.
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