Traders Purchase Large Volume of Put Options on Front Yard Residential (RESI)

Front Yard Residential Corp (NYSE:RESI) saw some unusual options trading on Tuesday. Traders purchased 2,828 put options on the company. This represents an increase of 2,075% compared to the average volume of 130 put options.

Shares of NYSE RESI opened at $11.04 on Wednesday. Front Yard Residential has a fifty-two week low of $7.99 and a fifty-two week high of $13.07.

Front Yard Residential (NYSE:RESI) last issued its quarterly earnings data on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.93). Front Yard Residential had a negative net margin of 85.55% and a negative return on equity of 22.74%. The company had revenue of $48.31 million for the quarter, compared to the consensus estimate of $47.33 million. As a group, equities research analysts forecast that Front Yard Residential will post 0.14 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Monday, December 31st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Friday, December 28th.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Front Yard Residential from a “hold” rating to a “sell” rating in a research note on Wednesday, November 28th. Deutsche Bank cut their price objective on shares of Front Yard Residential from $14.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, November 20th.

In related news, General Counsel Michael Graham Lubin acquired 11,333 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were acquired at an average cost of $8.42 per share, for a total transaction of $95,423.86. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Deer Park Road Management Comp acquired 125,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The shares were bought at an average price of $8.34 per share, for a total transaction of $1,042,500.00. The disclosure for this purchase can be found here. Insiders acquired 1,461,133 shares of company stock worth $12,503,218 over the last quarter. 0.88% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of RESI. Nisa Investment Advisors LLC raised its position in Front Yard Residential by 1,357.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,890 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 14,800 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Front Yard Residential in the third quarter worth about $171,000. Quantamental Technologies LLC bought a new stake in Front Yard Residential in the fourth quarter worth about $171,000. Martingale Asset Management L P bought a new stake in Front Yard Residential in the third quarter worth about $189,000. Finally, Capital Fund Management S.A. bought a new stake in Front Yard Residential in the third quarter worth about $206,000. Hedge funds and other institutional investors own 72.89% of the company’s stock.

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Front Yard Residential Company Profile

Front Yard is an industry leader in providing quality, affordable rental homes to America's families. Our homes offer exceptional value in a variety of suburban communities that have easy accessibility to metropolitan areas. Front Yard's tenants enjoy the space and comfort that is unique to single-family housing, at reasonable prices.

See Also: Why is the ex-dividend date different from the record date?

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