Monogram Residential Trust, Inc. (NYSE:MORE) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 3,543,982 shares, an increase of 52.9% from the July 14th total of 2,317,393 shares. Based on an average trading volume of 3,458,449 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.1% of the company’s shares are sold short.

MORE has been the subject of a number of recent analyst reports. BMO Capital Markets reiterated 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. Zacks Investment Research upgraded shares of Monogram Residential Trust from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub upgraded shares of Monogram Residential Trust from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, JMP Securities lowered shares of Monogram Residential Trust from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Nine investment analysts have rated the stock with a hold rating, Monogram Residential Trust has a consensus rating of “Hold” and an average price target of $11.79.

Several hedge funds have recently added to or reduced their stakes in the company. Susquehanna International Group LLP increased its stake in Monogram Residential Trust by 412.0% in the second quarter. Susquehanna International Group LLP now owns 58,367 shares of the real estate investment trust’s stock valued at $567,000 after buying an additional 46,967 shares during the period. The Manufacturers Life Insurance Company increased its stake in Monogram Residential Trust by 1.8% in the second quarter. The Manufacturers Life Insurance Company now owns 147,301 shares of the real estate investment trust’s stock valued at $1,430,000 after buying an additional 2,620 shares during the period. State Street Corp increased its stake in Monogram Residential Trust by 4.8% in the second quarter. State Street Corp now owns 5,732,568 shares of the real estate investment trust’s stock valued at $55,661,000 after buying an additional 263,924 shares during the period. Macquarie Group Ltd. increased its stake in Monogram Residential Trust by 12.3% in the second quarter. Macquarie Group Ltd. now owns 53,000 shares of the real estate investment trust’s stock valued at $515,000 after buying an additional 5,800 shares during the period. Finally, Royal Bank of Canada increased its stake in Monogram Residential Trust by 23.4% in the second quarter. Royal Bank of Canada now owns 36,600 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 6,931 shares during the period. Institutional investors and hedge funds own 75.04% of the company’s stock.

Monogram Residential Trust (MORE) opened at 11.99 on Wednesday. The stock has a market capitalization of $2.00 billion, a P/E ratio of 18.22 and a beta of 0.80. The firm’s 50-day moving average is $11.63 and its 200-day moving average is $10.43. Monogram Residential Trust has a 12 month low of $9.55 and a 12 month high of $12.09.

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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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