Monogram Residential Trust, Inc. (NYSE:MORE) received a $11.00 target price from stock analysts at Canaccord Genuity in a research note issued on Wednesday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. Canaccord Genuity’s price target would indicate a potential downside of 7.56% from the company’s previous close.

Several other research analysts have also issued reports on MORE. BMO Capital Markets reiterated a “buy” rating on shares of Monogram Residential Trust in a research note on Tuesday, July 4th. BidaskClub upgraded shares of Monogram Residential Trust from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Zacks Investment Research lowered shares of Monogram Residential Trust from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $11.61.

Monogram Residential Trust (MORE) remained flat at $11.90 during midday trading on Wednesday. 6,770,759 shares of the company’s stock were exchanged. The stock has a market cap of $1.99 billion, a PE ratio of 21.25 and a beta of 0.71. Monogram Residential Trust has a 52 week low of $9.55 and a 52 week high of $12.00. The company has a 50-day moving average price of $9.80 and a 200-day moving average price of $10.14.

Monogram Residential Trust (NYSE:MORE) last issued its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. The business had revenue of $73.34 million during the quarter, compared to the consensus estimate of $50.96 million. Monogram Residential Trust had a return on equity of 6.01% and a net margin of 32.49%. Equities research analysts forecast that Monogram Residential Trust will post $0.37 EPS for the current fiscal year.

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Wednesday, June 28th. Monogram Residential Trust’s payout ratio is presently 54.55%.

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Several hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Monogram Residential Trust during the fourth quarter worth about $1,574,000. State Street Corp increased its stake in shares of Monogram Residential Trust by 0.7% in the fourth quarter. State Street Corp now owns 5,395,069 shares of the real estate investment trust’s stock worth $58,372,000 after buying an additional 37,386 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Monogram Residential Trust by 49.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 918,718 shares of the real estate investment trust’s stock worth $9,940,000 after buying an additional 303,791 shares during the last quarter. Credit Agricole S A increased its stake in shares of Monogram Residential Trust by 47.2% in the fourth quarter. Credit Agricole S A now owns 106,370 shares of the real estate investment trust’s stock worth $1,151,000 after buying an additional 34,124 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Monogram Residential Trust by 189.2% in the fourth quarter. Renaissance Technologies LLC now owns 246,100 shares of the real estate investment trust’s stock worth $2,663,000 after buying an additional 161,000 shares during the last quarter. 74.58% of the stock is currently owned by hedge funds and other institutional investors.

About Monogram Residential Trust

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.

Analyst Recommendations for Monogram Residential Trust (NYSE:MORE)

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