Front Yard Residential (RESI) Shares Down 6.5%

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Front Yard Residential Corp (NYSE:RESI)’s share price traded down 6.5% during trading on Thursday . The company traded as low as $9.43 and last traded at $9.46. 876,449 shares traded hands during mid-day trading, an increase of 125% from the average session volume of 388,719 shares. The stock had previously closed at $10.12.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a research note on Friday, June 29th. ValuEngine upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, Credit Suisse Group increased their target price on Front Yard Residential from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.00.

Front Yard Residential (NYSE:RESI) last posted its earnings results on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. Front Yard Residential had a negative return on equity of 20.47% and a negative net margin of 97.71%. The business had revenue of $40.91 million during the quarter, compared to analyst estimates of $42.41 million. On average, analysts anticipate that Front Yard Residential Corp will post 0.22 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.15%.

Several hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Front Yard Residential during the 2nd quarter valued at approximately $149,000. Dynamic Technology Lab Private Ltd acquired a new stake in Front Yard Residential during the 1st quarter valued at approximately $157,000. State of Alaska Department of Revenue acquired a new stake in Front Yard Residential during the 3rd quarter valued at approximately $171,000. Fox Run Management L.L.C. acquired a new stake in Front Yard Residential during the 2nd quarter valued at approximately $206,000. Finally, Barclays PLC grew its stake in Front Yard Residential by 176.0% during the 1st quarter. Barclays PLC now owns 21,730 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 13,858 shares in the last quarter. Institutional investors and hedge funds own 70.62% of the company’s stock.

Front Yard Residential Company Profile (NYSE:RESI)

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 which 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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