Monogram Residential Trust Inc. (MORE) Earns Neutral Rating from Analysts at Mitsubishi UFJ Financial Group
Mitsubishi UFJ Financial Group initiated coverage on shares of Monogram Residential Trust Inc. (NYSE:MORE) in a note issued to investors on Tuesday. The brokerage set a “neutral” rating and a $11.00 price target on the stock. Mitsubishi UFJ Financial Group’s price target indicates a potential upside of 4.76% from the company’s current price.
Several other equities analysts also recently commented on MORE. BTIG Research began coverage on Monogram Residential Trust in a research report on Thursday, August 25th. They issued a “buy” rating and a $12.25 price objective on the stock. Janney Montgomery Scott initiated coverage on Monogram Residential Trust in a report on Thursday, September 8th. They issued a “buy” rating and a $11.50 target price for the company. Robert W. Baird initiated coverage on Monogram Residential Trust in a report on Friday, September 16th. They issued an “outperform” rating and a $11.00 target price for the company. Zacks Investment Research upgraded Monogram Residential Trust from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday, August 11th. Finally, Canaccord Genuity initiated coverage on Monogram Residential Trust in a report on Tuesday, June 28th. They issued a “hold” rating and a $11.00 target price for the company. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.57.
Monogram Residential Trust (NYSE:MORE) opened at 10.50 on Tuesday. Monogram Residential Trust has a 12-month low of $7.67 and a 12-month high of $10.90. The company has a market capitalization of $1.75 billion, a price-to-earnings ratio of 262.50 and a beta of 0.81. The firm has a 50-day moving average of $10.31 and a 200 day moving average of $10.23.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/monogram-residential-trust-inc-more-earns-neutral-rating-from-analysts-at-mitsubishi-ufj-financial-group.html
Monogram Residential Trust (NYSE:MORE) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $68.55 million for the quarter, compared to the consensus estimate of $67.40 million. Monogram Residential Trust had a return on equity of 0.49% and a net margin of 3.08%. Analysts expect that Monogram Residential Trust will post $0.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, September 30th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Wednesday, September 28th. Monogram Residential Trust’s dividend payout ratio (DPR) is currently 750.19%.
Several large investors have recently modified their holdings of MORE. Advisory Services Network LLC acquired a new stake in Monogram Residential Trust during the third quarter worth approximately $100,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in 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 during the period. Columbia Asset Management acquired a new stake in Monogram Residential Trust during the second quarter worth approximately $102,000. M&T Bank Corp acquired a new stake in Monogram Residential Trust during the first quarter worth approximately $100,000. Finally, Fox Run Management L.L.C. acquired a new stake in Monogram Residential Trust during the second quarter worth approximately $117,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
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.
Receive News & Ratings for Monogram Residential Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monogram Residential Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.