Zacks Investment Research upgraded shares of Front Yard Residential (NYSE:RESI) from a sell rating to a hold rating in a report issued on Wednesday.
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. “
Several other equities analysts have also issued reports on RESI. ValuEngine raised Front Yard Residential from a sell rating to a hold rating in a research report on Tuesday, June 26th. Credit Suisse Group lifted their price target on Front Yard Residential from $14.00 to $15.00 and gave the stock an outperform rating in a research report on Friday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $15.00.
Front Yard Residential (NYSE:RESI) last posted its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.01. The firm had revenue of $40.91 million during the quarter, compared to analyst estimates of $42.41 million. Front Yard Residential had a negative return on equity of 20.47% and a negative net margin of 97.71%. As a group, equities research analysts predict that Front Yard Residential will post 0.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend was Thursday, September 27th.
Large investors have recently modified their holdings of the business. Citadel Advisors LLC raised its position in Front Yard Residential by 93.8% in the 2nd quarter. Citadel Advisors LLC now owns 161,291 shares of the real estate investment trust’s stock worth $1,680,000 after buying an additional 78,054 shares during the last quarter. American Century Companies Inc. raised its position in Front Yard Residential by 77.7% in the 2nd quarter. American Century Companies Inc. now owns 291,109 shares of the real estate investment trust’s stock worth $3,033,000 after buying an additional 127,268 shares during the last quarter. GSA Capital Partners LLP raised its position in Front Yard Residential by 94.3% in the 2nd quarter. GSA Capital Partners LLP now owns 92,298 shares of the real estate investment trust’s stock worth $962,000 after buying an additional 44,797 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in Front Yard Residential in the 2nd quarter worth about $206,000. Finally, Brown Advisory Inc. raised its position in Front Yard Residential by 16.3% in the 1st quarter. Brown Advisory Inc. now owns 3,377,768 shares of the real estate investment trust’s stock worth $33,946,000 after buying an additional 473,642 shares during the last quarter. 70.62% 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 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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