Today, Monogram Residential Trust Inc. (MORE) Downgraded by Zacks Investment Research to Sell

Today, Monogram Residential Trust Inc. (MORE) Downgraded by Zacks Investment Research to Sell

Monogram Residential Trust Inc. (NYSE:MORE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Monogram Residential Trust, Inc. is a self-managed real estate investment trust. It invests in, develops and operates multifamily communities offering location and lifestyle amenities. The Company invests in stabilized operating properties and properties in various phases of development, with a focus on communities located in the top 50 Metropolitan Statistical Areas of the United States. Monogram Residential Trust, Inc. is based in Addison, Texas. “

Other analysts have also issued reports about the stock. Janney Montgomery Scott started coverage on shares of Monogram Residential Trust in a report on Thursday, September 8th. They set a “buy” rating and a $11.50 target price for the company. BTIG Research started coverage on shares of Monogram Residential Trust in a report on Thursday, August 25th. They set a “buy” rating and a $12.25 target price for the company. Canaccord Genuity started coverage on shares of Monogram Residential Trust in a report on Tuesday, June 28th. They set a “hold” rating and a $11.00 target price for the company. Robert W. Baird began coverage on shares of Monogram Residential Trust in a report on Friday, September 16th. They set an “outperform” rating and a $11.00 target price for the company. Finally, BMO Capital Markets began coverage on shares of Monogram Residential Trust in a research note on Friday, June 17th. They issued an “outperform” rating and a $12.50 price target for the company. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Monogram Residential Trust has a consensus rating of “Hold” and a consensus price target of $11.63.

Monogram Residential Trust (NYSE:MORE) opened at 10.28 on Thursday. The stock has a 50 day moving average price of $10.34 and a 200-day moving average price of $10.20. Monogram Residential Trust has a 52 week low of $7.67 and a 52 week high of $10.90. The stock has a market cap of $1.71 billion, a P/E ratio of 257.00 and a beta of 0.81.

Monogram Residential Trust (NYSE:MORE) last posted its earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.09. The company earned $68.55 million during the quarter, compared to analyst estimates of $67.40 million. Monogram Residential Trust had a net margin of 3.08% and a return on equity of 0.49%. On average, equities analysts anticipate that Monogram Residential Trust will post $0.36 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, September 28th. Monogram Residential Trust’s dividend payout ratio is 750.19%.

Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Monogram Residential Trust by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,885 shares of the company’s stock worth $101,000 after buying an additional 1,029 shares in the last quarter. Columbia Asset Management acquired a new position in shares of Monogram Residential Trust during the second quarter worth $102,000. M&T Bank Corp acquired a new position in shares of Monogram Residential Trust during the first quarter worth $100,000. Fox Run Management L.L.C. acquired a new position in shares of Monogram Residential Trust during the second quarter worth $117,000. Finally, Creative Planning increased its position in shares of Monogram Residential Trust by 58.2% in the second quarter. Creative Planning now owns 12,716 shares of the company’s stock worth $130,000 after buying an additional 4,680 shares in the last quarter. 66.96% of the stock is owned by institutional investors and hedge funds.

Monogram Residential Trust Company Profile

Monogram Residential Trust, Inc (Monogram) is an integrated self-managed real estate investment trust (REIT) that invests in, develops and operates multifamily communities offering location and lifestyle amenities. The Company focuses on increasing earnings, long-term shareholder value and cash flow through the acquisition, development, and operation of its multifamily communities and the disposition of selected multifamily communities in its portfolio.

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