Brokerages Set Monogram Residential Trust, Inc. (MORE) Target Price at $11.33

Shares of Monogram Residential Trust, Inc. (NYSE:MORE) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $11.75.

Several research analysts have recently commented on the company. BMO Capital Markets downgraded Monogram Residential Trust from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $12.50 to $12.00 in a report on Wednesday. Zacks Investment Research raised Monogram Residential Trust from a “sell” rating to a “hold” rating in a report on Thursday. Robert W. Baird downgraded Monogram Residential Trust from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $12.00 in a report on Tuesday, July 25th. JMP Securities downgraded Monogram Residential Trust from an “outperform” rating to a “market perform” rating in a report on Monday, July 10th. Finally, Mitsubishi UFJ Financial Group reaffirmed a “neutral” rating and set a $12.00 price objective on shares of Monogram Residential Trust in a report on Thursday, July 6th.

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Several hedge funds have recently added to or reduced their stakes in MORE. Russell Investments Group Ltd. purchased a new stake in Monogram Residential Trust during the fourth quarter worth approximately $1,574,000. Dimensional Fund Advisors LP boosted 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. Renaissance Technologies LLC boosted its stake in 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 in the last quarter. GSA Capital Partners LLP boosted its stake in Monogram Residential Trust by 77.9% in the fourth quarter. GSA Capital Partners LLP now owns 32,603 shares of the real estate investment trust’s stock worth $353,000 after buying an additional 14,277 shares in the last quarter. Finally, Norges Bank purchased a new stake in Monogram Residential Trust during the fourth quarter worth approximately $19,842,000. Institutional investors and hedge funds own 75.07% of the company’s stock.

Shares of Monogram Residential Trust (NYSE MORE) opened at 11.98 on Friday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 18.21 and a beta of 0.80. The company’s 50 day moving average price is $11.44 and its 200-day moving average price is $10.39. Monogram Residential Trust has a 12 month low of $9.55 and a 12 month high of $12.09.

Monogram Residential Trust (NYSE:MORE) last announced its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by $0.01. The business had revenue of $73.34 million during the quarter, compared to analyst estimates of $50.96 million. Monogram Residential Trust had a return on equity of 7.00% and a net margin of 37.63%. On average, equities analysts predict that Monogram Residential Trust will post $0.38 earnings per share for the current fiscal year.

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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