Monogram Residential Trust (MORE) Misses Q1 EPS by 1c

Monogram Residential Trust (NYSE: MORE) reported Q1 EPS of $0.09, $0.01 worse than the analyst estimate of $0.10. Revenue for the quarter came in at $65.5 million versus the consensus estimate of $65.96 million.

"We are pleased with our first quarter operating and financial results, including the 7.5% growth in proportionate Same Store NOI," stated Mark T. Alfieri, Chief Executive Officer, President, and Chief Operating Officer of Monogram. "During the quarter, we completed two development communities, OLUME and SoMa, and continued to execute on leasing and stabilizing our existing development program, which we expect to produce meaningful NOI growth over the next 18 months. Overall, we remain focused on shareholder value creation as we drive strong Same Store growth and deliver our developments at attractive stabilized yields on cost while prudently managing our balance sheet."

For earnings history and earnings-related data on Monogram Residential Trust (MORE) click here.

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