What does Monogram Residential Trust do?
Monogram Residential Trust, Inc. (“Monogram”), is a Plano, Texas-based real estate investment trust (REIT) that invests in, develops and operates high quality multifamily communities offering location and lifestyle amenities. Monogram invests in stabilized operating properties and properties in various phases of development, with a focus on communities located in the top 50 Metropolitan Statistical Areas of the United States. Monogram’s portfolio includes investments in 53 multifamily communities in 10 states comprising 15,077 apartment homes.
What is a REIT?
A real estate investment trust or REIT is a company that owns, and in most cases, operates income-producing real estate such as apartments, shopping centers, offices, hotels and warehouses. Some REITs also engage in financing real estate. To qualify as a REIT, a company must distribute at least 90 percent of its taxable income to its shareholders annually. A company that qualifies as a REIT is permitted to deduct dividends paid to its shareholders from its corporate taxable income. As a result, most REITs remit at least 100 percent of their taxable income to their shareholders and therefore owe no corporate tax. Taxes are paid by shareholders on the dividends received and any capital gains. Most states honor this federal treatment and also do not require REITs to pay state income tax. Like other businesses, but unlike partnerships, a REIT cannot pass any tax losses through to its investors. For more information, please visit the National Association of Real Estate Investment Trusts’ website.
Why invest in a publicly traded REIT?
REITs are total return investments. They typically provide high dividends plus the potential for moderate, long-term capital appreciation. Long-term total returns of REIT stocks are likely to be somewhat less than the returns of higher risk, high-growth stocks and somewhat more than the returns of lower risk bonds. REITs are required by law to distribute each year to their shareholders at least 90 percent of their taxable income. Thus, REITs tend to be among those companies paying the highest dividends. The dividends come primarily from the relatively stable and predictable stream of contractual rents paid by the tenants who occupy the REIT’s properties. Because rental rates tend to rise during periods of inflation, REIT dividends tend to be protected from the long-term corrosive effect of rising prices. The low correlation of listed REIT stock returns with the returns of other equities and fixed-income investments varies over time. Thus, including listed REITs in your investment program helps build a more diversified portfolio.
What do publicly traded REITs offer investors?
Publicly traded REITs historically offer investors:
- Income & Long-term Growth: REITs provide competitive long-term rates of return that complement the returns from other stocks and from bonds.
- High Dividend Yield: Significantly higher on average than other equities, the industry’s dividend yields historically have produced a steady stream of income through a variety of market conditions.
- Liquidity: Shares of publicly traded REITs are readily converted into cash because they are traded on the major stock exchanges.
- Professional Management: REIT managers are skilled, experienced real estate professionals.
- Oversight: Independent directors of the REIT, independent analysts, independent auditors, and the business and financial media monitor a publicly traded REIT’s financial reporting on a regular basis. This scrutiny provides investors with a measure of protection and more than one barometer of the REIT’s financial condition.
Disclosure Obligations: REITs whose securities are registered with the SEC are required to make regular SEC disclosures, including quarterly and yearly financial reports.
Where is Monogram headquartered?
Monogram is located in Plano, Texas.
Where are Monogram’s common shares listed and what is the ticker symbol?
Monogram’s common stock is listed on the New York Stock Exchange (NYSE) under the symbol MORE.
What is the CUSIP (Committee on Uniform Securities Identification Procedures) number for Monogram?
How do I invest in Monogram?
Monogram’s common stock can be bought or sold through a stockbroker, bank or financial institution that offers brokerage services. Monogram does not currently have a direct stock purchase plan.
What is FFO (Funds From Operations)?
The National Association of Real Estate Investment Trusts (“NAREIT”) currently defines FFO as net income (computed in accordance with GAAP), excluding gains or losses from sales of property, plus real estate depreciation and amortization, and after adjustments for unconsolidated partnerships and joint ventures.
Does Monogram pay a quarterly distribution on its common stock?
Monogram currently pays distributions on a quarterly basis. To see a list of the historical distributions, please visit the Distributions page.
How can I request additional information from Monogram?
Request additional information via our Information Request page.
How can I receive e-mail alerts from Monogram?
To sign up for Email alerts, please visit our Email Notification page.
How can I contact Monogram Investor Relations?
Monogram Investor Relations can be contacted by calling (469) 250-5638 or sending an inquiry to email@example.com.
Who serves as the Transfer Agent and Registrar for Monogram?
Monogram’s Transfer Agent and Registrar is DST Systems, Inc. DST can be contacted at (844) 391-3033.
Investor inquiries should be sent to:
DST Systems, Inc.
P.O. Box 219722
Kansas City, MO 64121-9722
Overnight mail communication items should be sent to:
430 W. 7th Street Ste 219722
Kansas City, MO 64105
When did Monogram first list on the New York Stock Exchange (NYSE)?
Monogram’s common shares were first listed on November 21, 2014.
When does the fiscal year end at Monogram?
Monogram’s fiscal year end is December 31.
How can I get copies of Monogram’s documents such as quarterly and annual reports, proxy statements, and SEC filings?
Please see the SEC filing page.
How can I obtain a physical copy of Monogram Residential Trust’s filings?
Please submit a request via our Information Request page.
Who is Monogram’s independent auditor?
Deloitte & Touche LLP has served as Monogram’s independent registered public accounting firm since November 14, 2006.
Does Monogram have a formal Code of Business Conduct and Ethics?
Monogram has a Code of Conduct and Ethics, which can be found in the Corporate Governance Section on the Investor Relations website.
When will the 2016 IRS tax form 1099 be mailed?
All 2016 IRS tax form 1099s will be mailed by January 31, 2017.