Equities research analysts expect Front Yard Residential Corp (NYSE:RESI) to announce sales of $53.35 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Front Yard Residential’s earnings. The highest sales estimate is $53.59 million and the lowest is $53.11 million. Front Yard Residential posted sales of $48.31 million in the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 6th.
According to Zacks, analysts expect that Front Yard Residential will report full year sales of $212.68 million for the current fiscal year, with estimates ranging from $212.54 million to $212.82 million. For the next financial year, analysts forecast that the firm will post sales of $239.04 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Front Yard Residential.
A number of analysts have weighed in on the company. Northland Securities restated a “buy” rating and set a $15.00 target price on shares of Front Yard Residential in a report on Wednesday, May 8th. Zacks Investment Research lowered Front Yard Residential from a “hold” rating to a “sell” rating in a report on Wednesday, August 14th.
Shares of NYSE:RESI traded down $0.14 during mid-day trading on Thursday, reaching $11.13. The stock had a trading volume of 9,400 shares, compared to its average volume of 189,232. The business’s 50 day moving average price is $11.81 and its 200 day moving average price is $11.05. Front Yard Residential has a 1 year low of $7.99 and a 1 year high of $13.02. The company has a market cap of $600.20 million, a P/E ratio of 51.18 and a beta of 1.26.
In other Front Yard Residential news, major shareholder Deer Park Road Management Comp sold 213,137 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $12.06, for a total value of $2,570,432.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Rochelle R. Dobbs bought 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $11.59 per share, for a total transaction of $115,900.00. The disclosure for this purchase can be found here. Insiders sold a total of 247,917 shares of company stock worth $2,992,792 over the last ninety days. 0.88% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in RESI. Bank of Montreal Can increased its holdings in Front Yard Residential by 331.9% in the 2nd quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock valued at $66,000 after purchasing an additional 4,155 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Front Yard Residential in the first quarter worth $101,000. BNP Paribas Arbitrage SA grew its stake in shares of Front Yard Residential by 47.5% in the first quarter. BNP Paribas Arbitrage SA now owns 11,280 shares of the real estate investment trust’s stock worth $105,000 after acquiring an additional 3,632 shares in the last quarter. Veritable L.P. acquired a new position in shares of Front Yard Residential in the second quarter worth $138,000. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Front Yard Residential by 173.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,346 shares of the real estate investment trust’s stock worth $151,000 after acquiring an additional 11,003 shares in the last quarter. 77.72% 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.
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