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

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Front Yard Residential Corp (NYSE:RESI) saw unusually large options trading on Thursday. Stock traders purchased 14,085 call options on the stock. This represents an increase of approximately 916% compared to the typical daily volume of 1,386 call options.

Several equities research analysts have recently commented on RESI shares. Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, December 25th. Deutsche Bank decreased their price target on 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.

Shares of NYSE:RESI opened at $10.60 on Friday. Front Yard Residential has a 12 month low of $7.99 and a 12 month high of $13.07.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings results on Wednesday, February 27th. The real estate investment trust reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.66). Front Yard Residential had a negative return on equity of 23.94% and a negative net margin of 71.49%. On average, equities research analysts anticipate that Front Yard Residential will post 0.26 earnings per share for the current year.

In other Front Yard Residential news, major shareholder Deer Park Road Management Comp bought 200,000 shares of the company’s stock in a transaction on Monday, December 24th. The shares were bought at an average price of $8.45 per share, for a total transaction of $1,690,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 850,000 shares of company stock worth $7,143,000 in the last quarter. 0.88% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Front Yard Residential by 32.5% in the 4th quarter. Geode Capital Management LLC now owns 681,675 shares of the real estate investment trust’s stock valued at $5,951,000 after buying an additional 167,255 shares in the last quarter. Norges Bank purchased a new stake in Front Yard Residential in the 4th quarter valued at approximately $7,025,000. Dimensional Fund Advisors LP lifted its stake in Front Yard Residential by 323.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,428 shares of the real estate investment trust’s stock valued at $1,898,000 after buying an additional 166,122 shares in the last quarter. FMR LLC lifted its stake in Front Yard Residential by 9.3% in the 4th quarter. FMR LLC now owns 3,689,642 shares of the real estate investment trust’s stock valued at $32,210,000 after buying an additional 314,400 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Front Yard Residential by 986.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 58,242 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 52,880 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors and hedge funds.

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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.

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