Front Yard Residential (NYSE:RESI) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Front Yard Residential (NYSE:RESI) from a hold rating to a sell rating in a report published on Tuesday, 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. “

RESI has been the topic of several other research reports. ValuEngine lowered Front Yard Residential from a buy rating to a hold rating in a research report on Wednesday, October 2nd. Northland Securities reaffirmed a buy rating and set a $15.00 price target on shares of Front Yard Residential in a research report on Wednesday, November 6th.

RESI traded down $0.01 during trading on Tuesday, hitting $10.82. 127,076 shares of the stock were exchanged, compared to its average volume of 253,845. The firm has a market capitalization of $581.91 million, a P/E ratio of 63.53 and a beta of 1.30. Front Yard Residential has a 1-year low of $8.12 and a 1-year high of $12.68. The stock has a fifty day moving average price of $11.74 and a two-hundred day moving average price of $11.53.

Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, November 6th. The real estate investment trust reported ($0.68) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.71). The firm had revenue of $50.77 million for the quarter, compared to analyst estimates of $52.70 million. Front Yard Residential had a negative return on equity of 15.28% and a negative net margin of 30.66%. On average, analysts forecast that Front Yard Residential will post 0.03 EPS for the current fiscal year.

In other Front Yard Residential news, major shareholder Deer Park Road Management Comp sold 5,000 shares of Front Yard Residential stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $11.02, for a total value of $55,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.88% of the company’s stock.

Several hedge funds have recently made changes to their positions in RESI. FMR LLC grew its stake 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. Nisa Investment Advisors LLC grew its stake in shares of Front Yard Residential by 8.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 25,209 shares of the real estate investment trust’s stock valued at $308,000 after purchasing an additional 2,069 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Front Yard Residential by 19.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 19,308 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 3,120 shares during the last quarter. HGI Capital Management LLC purchased a new position in shares of Front Yard Residential in the 2nd quarter valued at approximately $1,614,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Front Yard Residential by 83.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,230 shares of the real estate investment trust’s stock valued at $663,000 after purchasing an additional 24,660 shares during the last quarter. Institutional investors own 76.61% of the company’s stock.

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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