Indaba Capital Management Lowers stake in Monogram Residential Trust Inc (MORE)

Monogram Residential Trust Inc (MORE) : Indaba Capital Management reduced its stake in Monogram Residential Trust Inc by 65.97% during the most recent quarter end. The investment management company now holds a total of 582,403 shares of Monogram Residential Trust Inc which is valued at $6,039,519 after selling 1,129,250 shares in Monogram Residential Trust Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Monogram Residential Trust Inc makes up approximately 2.09% of Indaba Capital Management’s portfolio.

Other Hedge Funds, Including , Two Sigma Securities sold out all of its stake in MORE during the most recent quarter. The investment firm sold 10,154 shares of MORE which is valued $105,297.Stratos Wealth Partners Ltd. boosted its stake in MORE in the latest quarter, The investment management firm added 42 additional shares and now holds a total of 32,250 shares of Monogram Residential Trust Inc which is valued at $334,433. Monogram Residential Trust Inc makes up approx 0.02% of Stratos Wealth Partners Ltd.’s portfolio.First Trust Advisors Lp boosted its stake in MORE in the latest quarter, The investment management firm added 88,332 additional shares and now holds a total of 151,643 shares of Monogram Residential Trust Inc which is valued at $1,558,890. Ausdal Financial Partners added MORE to its portfolio by purchasing 12,759 company shares during the most recent quarter which is valued at $136,649. Monogram Residential Trust Inc makes up approx 0.07% of Ausdal Financial Partners’s portfolio.Boston Advisors reduced its stake in MORE by selling 180,710 shares or 21.58% in the most recent quarter. The Hedge Fund company now holds 656,777 shares of MORE which is valued at $6,817,345. Monogram Residential Trust Inc makes up approx 0.16% of Boston Advisors’s portfolio.

Monogram Residential Trust Inc opened for trading at $10.5 and hit $10.56 on the upside on Thursday, eventually ending the session at $10.54, with a gain of 0.19% or 0.02 points. The heightened volatility saw the trading volume jump to 5,57,313 shares. Company has a market cap of $1,758 M.

Investors should note that on Aug 18, 2016, Monogram Residential Trust Inc announced a cash dividend of $0.0750. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 7, 2016.

Many Wall Street Analysts have commented on Monogram Residential Trust Inc. Canaccord Genuity Initiated Monogram Residential Trust Inc on Jun 28, 2016 to “Hold”, Price Target of the shares are set at $11.

Monogram Residential Trust Inc. is a self-managed real estate investment trust which invests in and develops and operates multifamily communities. The Company invests in operating properties and properties in various phases of development. The Company focuses on communities in markets across the United States which includes luxury mid-rise high-rise and garden style multifamily communities. The Company focuses on communities including core properties which consist of properties that are stabilized and producing rental income as well as properties in various phases of development redevelopment lease up and repositioning. The Company also focuses on real estate-related securities including mortgage bridge mezzanine or other loans or in entities that make investments. It invests in multi-family communities which are wholly owned or held through joint venture arrangements with third-party institutional or other national or regional real estate developers or owners.

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