Monogram Residential Trust (MORE) Reports In-Line Q2 FFO

Monogram Residential Trust (NYSE: MORE) reported Q2 FFO of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $68.55 million versus the consensus estimate of $67.4 million.

"Our results year-to-date, including a 5.8% increase in proportionate same store NOI, reflect the strong performance of our diversified portfolio of Class A assets, however, looking ahead, we expect that increased supply will continue to impact certain markets," stated Mark T. Alfieri, Chief Executive Officer, President and Chief Operating Officer of Monogram. "During the quarter, we stabilized two communities, Cyan on Peachtree in Atlanta and Ev in San Diego, and completed construction of Verge in San Diego. We remain focused on executing on our stated strategy, to drive consistent same store growth in our stabilized portfolio and to deliver the embedded NOI within our development program, which we believe will create significant long term value for our stockholders."

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

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