According to Zacks, “Front Yard Residential Corporation, operates as a Real Estate Investment Trust (REIT). It acquires single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. Front Yard Residential formerly known as Altisource Residential Corporation, is based in Christiansted, Virgin Islands. “
Separately, ValuEngine downgraded shares of Front Yard Residential from a buy rating to a hold rating in a research note on Wednesday, October 2nd.
RESI opened at $11.86 on Tuesday. The firm has a market cap of $631.92 million, a P/E ratio of 53.36 and a beta of 1.28. Front Yard Residential has a 12 month low of $7.99 and a 12 month high of $12.59. The stock has a 50-day moving average of $11.39 and a 200 day moving average of $11.18.
Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.42. The company had revenue of $51.55 million during the quarter, compared to analyst estimates of $52.66 million. Front Yard Residential had a negative return on equity of 16.43% and a negative net margin of 36.63%. Analysts predict that Front Yard Residential will post 0.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend was Friday, September 27th.
In other Front Yard Residential news, major shareholder Deer Park Road Management Comp sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $11.02, for a total value of $55,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 243,137 shares of company stock valued at $2,928,282. 0.88% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its stake in Front Yard Residential by 331.9% in the second quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 4,155 shares during the last quarter. Veritable L.P. bought a new stake in Front Yard Residential in the second quarter worth about $138,000. State of Alaska Department of Revenue lifted its stake in Front Yard Residential by 19.3% in the second quarter. State of Alaska Department of Revenue now owns 19,308 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 3,120 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Front Yard Residential by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 25,209 shares of the real estate investment trust’s stock valued at $308,000 after acquiring an additional 2,069 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Front Yard Residential by 16.9% during the second quarter. UBS Asset Management Americas Inc. now owns 32,120 shares of the real estate investment trust’s stock valued at $393,000 after acquiring an additional 4,639 shares in the last quarter. 76.75% of the stock is owned by institutional investors and hedge funds.
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.
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