Monarch Partners Asset Management LLC raised its position in shares of Front Yard Residential Corp (NYSE:RESI) by 5.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,122,614 shares of the real estate investment trust’s stock after purchasing an additional 56,040 shares during the period. Front Yard Residential makes up approximately 2.0% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 4th biggest position. Monarch Partners Asset Management LLC owned 2.09% of Front Yard Residential worth $12,977,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in RESI. Bank of Montreal Can increased its holdings in shares of Front Yard Residential by 331.9% during the second quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 4,155 shares in the last quarter. Veritable L.P. acquired a new position in shares of Front Yard Residential during the second quarter worth $138,000. State of Alaska Department of Revenue increased its holdings in shares of Front Yard Residential by 19.3% during the second quarter. State of Alaska Department of Revenue now owns 19,308 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 3,120 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Front Yard Residential by 8.9% during the second quarter. Nisa Investment Advisors LLC now owns 25,209 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 2,069 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its holdings in Front Yard Residential by 16.9% in the second quarter. UBS Asset Management Americas Inc. now owns 32,120 shares of the real estate investment trust’s stock valued at $393,000 after purchasing an additional 4,639 shares during the period. Institutional investors and hedge funds own 76.35% of the company’s stock.
NYSE RESI traded down $0.05 on Friday, reaching $11.18. The company had a trading volume of 128,415 shares, compared to its average volume of 286,996. The firm has a market cap of $626.00 million, a price-to-earnings ratio of 52.86 and a beta of 1.30. Front Yard Residential Corp has a fifty-two week low of $7.99 and a fifty-two week high of $12.68. The business has a 50 day moving average of $11.83 and a two-hundred day moving average of $11.49.
Front Yard Residential (NYSE:RESI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.71). The company had revenue of $50.77 million during the quarter, compared to analyst estimates of $52.70 million. Front Yard Residential had a negative net margin of 36.63% and a negative return on equity of 16.43%. On average, equities research analysts forecast that Front Yard Residential Corp will post 0.14 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 5.37%.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. Northland Securities restated a “buy” rating and issued a $15.00 price objective on shares of Front Yard Residential in a report on Wednesday. Finally, ValuEngine downgraded Front Yard Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd.
In related news, major shareholder Deer Park Road Management Comp sold 5,000 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $11.02, for a total value of $55,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company’s stock.
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 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.
See Also: Retained Earnings
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