Vanguard Group Inc. Purchases 617,417 Shares of Monogram Residential Trust, Inc. (NYSE:MORE)
Vanguard Group Inc. increased its stake in Monogram Residential Trust, Inc. (NYSE:MORE) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,609,838 shares of the real estate investment trust’s stock after buying an additional 617,417 shares during the period. Vanguard Group Inc. owned approximately 15.35% of Monogram Residential Trust worth $255,330,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MORE. Norges Bank purchased a new stake in Monogram Residential Trust during the fourth quarter worth about $19,842,000. Dimensional Fund Advisors LP increased its stake in 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 in the last quarter. Capital Fund Management S.A. purchased a new stake in Monogram Residential Trust during the first quarter worth about $2,854,000. HGI Capital Management LLC purchased a new stake in Monogram Residential Trust during the first quarter worth about $2,221,000. Finally, Russell Investments Group Ltd. increased its stake in Monogram Residential Trust by 135.0% in the first quarter. Russell Investments Group Ltd. now owns 348,575 shares of the real estate investment trust’s stock worth $3,477,000 after buying an additional 200,274 shares in the last quarter. 74.73% of the stock is owned by institutional investors.
Shares of Monogram Residential Trust, Inc. (MORE) traded down 0.08% on Friday, reaching $11.99. The company had a trading volume of 1,941,861 shares. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 21.41 and a beta of 0.80. Monogram Residential Trust, Inc. has a 52 week low of $9.55 and a 52 week high of $12.09. The stock’s 50 day moving average is $11.04 and its 200 day moving average is $10.31.
Monogram Residential Trust (NYSE:MORE) last released its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by $0.01. Monogram Residential Trust had a return on equity of 6.01% and a net margin of 32.49%. The firm had revenue of $73.34 million during the quarter, compared to analyst estimates of $50.96 million. On average, equities analysts anticipate that Monogram Residential Trust, Inc. will post $0.37 EPS for the current 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 $0.075 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.50%. Monogram Residential Trust’s dividend payout ratio is presently 54.55%.
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A number of equities analysts have recently commented on MORE shares. Robert W. Baird lowered Monogram Residential Trust from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $12.00 in a research note on Tuesday, July 25th. JMP Securities downgraded Monogram Residential Trust from an “outperform” rating to a “market perform” rating in a research report on Monday, July 10th. Mitsubishi UFJ Financial Group restated a “neutral” rating and set a $12.00 price target on shares of Monogram Residential Trust in a research report on Thursday, July 6th. Janney Montgomery Scott downgraded Monogram Residential Trust from a “buy” rating to a “neutral” rating in a research report on Thursday, July 13th. Finally, BidaskClub downgraded Monogram Residential Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Monogram Residential Trust has a consensus rating of “Hold” and an average price target of $11.75.
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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