Zacks Investment Research downgraded shares of Monogram Residential Trust Inc. (NYSE:MORE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

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. “

Several other analysts also recently weighed in on MORE. BMO Capital Markets initiated coverage on Monogram Residential Trust in a research note on Friday, June 17th. They issued an outperform rating and a $12.50 price target on the stock. Canaccord Genuity initiated coverage on Monogram Residential Trust in a research note on Tuesday, June 28th. They issued a hold rating and a $11.00 price target on the stock. BTIG Research initiated coverage on Monogram Residential Trust in a research note on Thursday, August 25th. They issued a buy rating and a $12.25 price target on the stock. Janney Montgomery Scott initiated coverage on Monogram Residential Trust in a research note on Thursday, September 8th. They issued a buy rating and a $11.50 price target on the stock. Finally, Robert W. Baird initiated coverage on Monogram Residential Trust in a research note on Friday, September 16th. They issued an outperform rating and a $11.00 price target on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $11.63.

Shares of Monogram Residential Trust (NYSE:MORE) traded down 0.634% during mid-day trading on Thursday, hitting $10.185. The company’s stock had a trading volume of 126,824 shares. Monogram Residential Trust has a 52-week low of $7.67 and a 52-week high of $10.90. The stock’s 50 day moving average price is $10.33 and its 200 day moving average price is $10.20. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 254.625 and a beta of 0.81.

Monogram Residential Trust (NYSE:MORE) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.09 earnings per share for the quarter, hitting the 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%. Equities analysts forecast that Monogram Residential Trust will post $0.36 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.075 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.30 dividend on an annualized basis and a yield of 2.93%. Monogram Residential Trust’s dividend payout ratio is presently 750.19%.

A number of large investors have recently bought and sold shares of the stock. M&T Bank Corp acquired a new stake in Monogram Residential Trust during the first 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 in the last quarter. Columbia Asset Management acquired a new stake in Monogram Residential Trust during the second quarter worth approximately $102,000. Fox Run Management L.L.C. acquired a new stake in Monogram Residential Trust during the second quarter worth approximately $117,000. Finally, Creative Planning boosted its stake in 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 currently owned by institutional investors and hedge funds.

About Monogram Residential Trust

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.

5 Day Chart for NYSE:MORE

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