December 06, 2016 1:04 AM ET

Equity Real Estate Investment Trusts (REITs)

Company Overview of Monogram Residential Trust, Inc.

Company Overview

Monogram Residential Trust, Inc. is an equity real estate investment trust. The trust invests in the real estate markets of United States. It engages in investment, development and operation of real estate assets. The trust's portfolio comprises of high-quality multifamily communities, including conventional multifamily assets, such as mid-rise, high-rise, and garden-style properties; age-restricted residences and student housing. The firm was formerly known as Behringer Harvard Multifamily REIT I, Inc. Monogram Residential Trust, Inc. was founded in 2006 and is based in Plano, Texas.

5800 Granite Parkway

Suite 1000

Plano, TX 75024

United States

Founded in 2006

366 Employees

Phone:

469-250-5500

Key Executives for Monogram Residential Trust, Inc.

Chief Executive Officer, President, Chief Operating Officer, Director and Member of Executive Committee
Age: 55
Total Annual Compensation: $575.0K
Chief Financial Officer and Executive Vice President
Age: 39
Total Annual Compensation: $59.7K
Senior Vice President of Portfolio Management
Age: 49
Total Annual Compensation: $349.9K
Chief Accounting Officer, Senior Vice President of Planning, Treasurer and Assistant Secretary
Age: 58
Total Annual Compensation: $316.7K
Executive Vice President of Property Management
Age: 59
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2015.

Monogram Residential Trust, Inc. Key Developments

Monogram Residential Trust, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2016; Provides Earnings Guidance for the Full Year of Fiscal 2016

Monogram Residential Trust, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended September 30, 2016. The company reported net income attributable to common stockholders of $4.5 million, or $0.03 per fully diluted share, which included $17.5 million of GAAP gains on sales of real estate, compared to net income attributable to common stockholders of $31.4 million, or $0.19 per fully diluted share, which included $34.4 million of GAAP gains on sales of real estate, for the quarter ended September 30, 2015. The year over year difference is primarily due to the larger GAAP gain on sale of real estate in 2015 and higher depreciation and amortization expense from development properties placed into service in the last 12 months and increased interest expense, net of capitalized interest. Core funds from operations totaled $16.2 million or $0.10 per fully diluted share, as compared to $14.8 million or $0.09 per fully diluted share, for the same period in 2015. Adjusted funds from operations totaled $16.6 million or $0.10 per fully diluted share, as compared to $15.2 million or $0.09 per fully diluted share, for the same period in 2015. The quarter over quarter increase in core FFO and AFFO is primarily due to an increase in the company's proportionate share of NOI from the same store portfolio and stabilized non-comparable and lease up properties. Rental revenues were $72.181 million against $59.191 million a year ago. Loss from continuing operations before gains on sales of real estate was $8.154 million against $3.497 million a year ago. FFO - NAREIT defined was $16.054 million against $14.289 million a year ago. The company reported a net loss attributable to common stockholders of $13.1 million, or $0.08 per fully diluted share, which included $17.5 million of GAAP gains on sales of real estate, compared to net income attributable to common stockholders of $79.7 million, or $0.48 per fully diluted share, which included $83.0 million of GAAP gains on sales of real estate, for the nine months ended September 30, 2015. Core FFO totaled $43.0 million or $0.26 per fully diluted share, as compared to $51.4 million or $0.31 per fully diluted share, for the same period in 2015. AFFO totaled $44.2 million or $0.26 per fully diluted share, as compared to $52.2 million or $0.31 per fully diluted share, for the same period in 2015. The year over year difference in core FFO and AFFO is primarily due to carried interest payments and disposition fees of $4.5 million received in 2015, reduction in NOI related to properties sold in 2015, and increase in interest expense, net of capitalized interest in 2016, which more than offset increases in NOI from the same store portfolio and stabilized non-comparable and lease up properties. Rental revenues were $206.279 million against $174.939 million a year ago. Loss from continuing operations before gains on sales of real estate was $31.141 million against $8.803 million a year ago. FFO - NAREIT defined was $40.362 million against $50.664 million a year ago. The company provided earnings guidance for the full year of fiscal 2016. Pro-forma annualized net loss attributable to common stockholders was $0.12 per share to $0.11 per share, pro-forma FFO annualized - NAREIT defined was $0.32 per share to $0.34 per share, pro-forma Core FFO annualized was $0.35 per share to $0.37 per share and pro-forma AFFO annualized was $0.36 per share to $0.38 per share. For the full-year 2016, the company revenue was 2.4% to 2.7%, previously 3.3% to 3.6%.

Monogram Residential Trust, Inc. to Report Q3, 2016 Results on Nov 03, 2016

Monogram Residential Trust, Inc. announced that they will report Q3, 2016 results at 5:00 PM, Eastern Standard Time on Nov 03, 2016

Monogram Residential Trust, Inc., Q3 2016 Earnings Call, Nov 03, 2016

Monogram Residential Trust, Inc., Q3 2016 Earnings Call, Nov 03, 2016

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