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Is Monogram Residential Trust Inc (MORE) A Good Stock To Buy?

Since Monogram Residential Trust Inc (NYSE:MORE) has faced bearish sentiment from the smart money, logic holds that there is a sect of hedgies that slashed their full holdings heading into Q4. Intriguingly, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital said goodbye to the largest position of the 700 funds monitored by Insider Monkey, worth about $1.2 million in stock, and Paul Marshall and Ian Wace’s Marshall Wace LLP was right behind this move, as the fund dropped about $0.9 million worth of MORE shares.

Let’s now review hedge fund activity in other stocks similar to Monogram Residential Trust Inc (NYSE:MORE). These stocks are Nexstar Broadcasting Group, Inc. (NASDAQ:NXST), Inphi Corporation (NYSE:IPHI), HNI Corp (NYSE:HNI), and Controladora Vuela Co Avcn SA CV (ADR) (NYSE:VLRS). This group of stocks’ market valuations are similar to MORE’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NXST 45 889860 4
IPHI 32 291030 7
HNI 17 37072 6
VLRS 14 174810 3

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $348 million. That figure was $22 million in MORE’s case. Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) is the most popular stock in this table. On the other hand Controladora Vuela Co Avcn SA CV (ADR) (NYSE:VLRS) is the least popular one with only 14 bullish hedge fund positions. Compared to these stocks Monogram Residential Trust Inc (NYSE:MORE) is even less popular than VLRS. Considering that hedge funds aren’t fond of this stock in relation to other companies analyzed in this article, it may be a good idea to analyze it in detail and understand why the smart money isn’t behind this stock. This isn’t necessarily bad news. Although it is possible that hedge funds may think the stock is overpriced and view the stock as a short candidate, they may not be very familiar with the bullish thesis. In either case more research is warranted.

Disclosure: none.

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