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.
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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