Equities research analysts expect that Front Yard Residential Corp (NYSE:RESI) will report $0.06 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Front Yard Residential’s earnings. The firm is expected to announce its next earnings report on Thursday, March 7th.
On average, analysts expect that Front Yard Residential will report full year earnings of $0.21 per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of $0.59 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Front Yard Residential.
A number of brokerages have weighed in on RESI. Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th. Deutsche Bank reduced their price target on Front Yard Residential from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, November 20th.
Shares of NYSE:RESI traded up $0.02 on Tuesday, reaching $11.21. The company had a trading volume of 920 shares, compared to its average volume of 301,193. Front Yard Residential has a twelve month low of $7.99 and a twelve month high of $13.07.
In other Front Yard Residential news, major shareholder Deer Park Road Management Comp acquired 300,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were acquired at an average cost of $8.59 per share, for a total transaction of $2,577,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Michael Graham Lubin acquired 11,333 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was acquired at an average price of $8.42 per share, for a total transaction of $95,423.86. The disclosure for this purchase can be found here. Insiders bought 1,411,333 shares of company stock worth $12,090,424 over the last quarter. 0.88% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its stake in Front Yard Residential by 20.5% in the fourth quarter. Bank of New York Mellon Corp now owns 330,923 shares of the real estate investment trust’s stock valued at $2,889,000 after acquiring an additional 56,289 shares during the last quarter. BlackRock Inc. increased its stake in Front Yard Residential by 8.8% in the fourth quarter. BlackRock Inc. now owns 4,012,445 shares of the real estate investment trust’s stock valued at $35,028,000 after acquiring an additional 324,366 shares during the last quarter. California Public Employees Retirement System increased its stake in Front Yard Residential by 3.4% in the fourth quarter. California Public Employees Retirement System now owns 154,640 shares of the real estate investment trust’s stock valued at $1,350,000 after acquiring an additional 5,094 shares during the last quarter. Prudential Financial Inc. bought a new position in Front Yard Residential in the fourth quarter valued at approximately $411,000. Finally, Boston Partners increased its stake in Front Yard Residential by 2.3% in the fourth quarter. Boston Partners now owns 103,653 shares of the real estate investment trust’s stock valued at $905,000 after acquiring an additional 2,290 shares during the last quarter. Hedge funds and other institutional investors own 72.73% 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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