Monogram Residential Trust Receives a Buy from BMO Capital

By Austin Angelo

BMO Capital analyst John Kim reiterated a Buy rating on Monogram Residential Trust (NYSE: MORE) on March 7 and set a price target of $11.50. The company’s shares closed last Friday at $9.98.

According to TipRanks.com, Kim is a 3-star analyst with an average return of 3.4% and a 56.9% success rate. Kim covers the Financial sector, focusing on stocks such as Apartment Investment & Management, Urstadt Biddle Properties Inc, and Franklin Street Properties.

Monogram Residential Trust has an analyst consensus of Moderate Buy, with a price target consensus of $11.50.

Based on Monogram Residential Trust’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $72.18 million and quarterly net profit of $4.45 million. In comparison, last year the company earned revenue of $63.13 million and had a GAAP net loss of $5.94 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of MORE in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Monogram Residential Trust, Inc. operates as a real estate investment trust. It develops and operates multifamily communities offering location and lifestyle amenities. Its multifamily communities include conventional multifamily assets, such as mid-rise, high-rise, garden style and age-restricted properties, typically requiring residents to be age 55 or older. Monogram Residential Trust also invests in other types of multifamily communities, such as student housing. The company was founded on August 4, 2006 and is headquartered in Addison, TX.