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. “
Other equities research analysts also recently issued reports about the stock. Northland Securities reissued a buy rating and issued a $15.00 price target on shares of Front Yard Residential in a research note on Wednesday, November 6th. ValuEngine downgraded shares of Front Yard Residential from a buy rating to a hold rating in a research note on Wednesday, October 2nd.
Shares of Front Yard Residential stock traded down $0.01 on Tuesday, reaching $10.82. The company had a trading volume of 127,076 shares, compared to its average volume of 253,845. The firm’s 50 day moving average price is $11.74 and its two-hundred day moving average price is $11.53. The firm has a market cap of $581.91 million, a PE ratio of 63.53 and a beta of 1.30. Front Yard Residential has a 52-week low of $8.12 and a 52-week high of $12.68.
Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.68) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.71). The company had revenue of $50.77 million during the quarter, compared to analysts’ expectations of $52.70 million. Front Yard Residential had a negative net margin of 30.66% and a negative return on equity of 15.28%. Analysts anticipate that Front Yard Residential will post 0.03 EPS for the current fiscal year.
In related news, major shareholder Deer Park Road Management Comp sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $11.02, for a total transaction of $55,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Front Yard Residential by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 7,127,554 shares of the real estate investment trust’s stock worth $87,100,000 after buying an additional 18,972 shares during the period. FMR LLC increased its position in shares of Front Yard Residential by 7.3% in the 1st quarter. FMR LLC now owns 3,960,042 shares of the real estate investment trust’s stock valued at $36,709,000 after purchasing an additional 270,400 shares during the last quarter. BlackRock Inc. increased its position in shares of Front Yard Residential by 1.6% in the 2nd quarter. BlackRock Inc. now owns 3,893,069 shares of the real estate investment trust’s stock valued at $47,575,000 after purchasing an additional 60,475 shares during the last quarter. Morgan Stanley increased its position in shares of Front Yard Residential by 11.0% in the 2nd quarter. Morgan Stanley now owns 1,823,368 shares of the real estate investment trust’s stock valued at $22,282,000 after purchasing an additional 181,179 shares during the last quarter. Finally, Monarch Partners Asset Management LLC increased its position in shares of Front Yard Residential by 5.3% in the 3rd quarter. Monarch Partners Asset Management LLC now owns 1,122,614 shares of the real estate investment trust’s stock valued at $12,977,000 after purchasing an additional 56,040 shares during the last quarter. 76.61% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Article: Cost of Equity For A Business, Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Front Yard Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Front Yard Residential and related companies with MarketBeat.com's FREE daily email newsletter.