Front Yard Residential (NYSE:RESI) Stock Rating Lowered by Zacks Investment Research

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Front Yard Residential (NYSE:RESI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, Zacks.com reports.

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, Northland Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Front Yard Residential in a research report on Wednesday, May 8th.

Shares of NYSE:RESI opened at $11.18 on Wednesday. The company has a market cap of $605.59 million, a P/E ratio of 51.23 and a beta of 1.26. The stock’s 50-day moving average is $11.75 and its 200-day moving average is $11.06. Front Yard Residential has a 52-week low of $7.99 and a 52-week high of $13.02.

In other news, Director Rochelle R. Dobbs bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average cost of $11.38 per share, with a total value of $113,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Deer Park Road Management Comp sold 25,000 shares of Front Yard Residential stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $12.11, for a total value of $302,750.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 247,917 shares of company stock worth $2,992,792. 0.88% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in RESI. Bank of Montreal Can grew its position in Front Yard Residential by 331.9% during the second quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 4,155 shares in the last quarter. Virtu Financial LLC acquired a new stake in Front Yard Residential during the first quarter worth about $101,000. BNP Paribas Arbitrage SA boosted its holdings in Front Yard Residential by 47.5% during the first quarter. BNP Paribas Arbitrage SA now owns 11,280 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 3,632 shares in the last quarter. Veritable L.P. acquired a new stake in Front Yard Residential during the second quarter valued at approximately $138,000. Finally, SG Americas Securities LLC boosted its holdings in Front Yard Residential by 19.6% during the first quarter. SG Americas Securities LLC now owns 22,467 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 3,677 shares in the last quarter. 77.72% of the stock is currently owned by institutional investors and hedge funds.

About Front Yard Residential

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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