Front Yard Residential (NYSE:RESI) announced its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.71), Fidelity Earnings reports. The business had revenue of $50.77 million for 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%.
Shares of NYSE RESI traded down $0.05 during trading on Friday, reaching $11.18. 123,585 shares of the stock were exchanged, compared to its average volume of 286,996. The business’s 50-day moving average price is $11.82 and its 200 day moving average price is $11.50. Front Yard Residential has a twelve month low of $7.99 and a twelve month high of $12.68. The company has a market capitalization of $626.00 million, a price-to-earnings ratio of 52.86 and a beta of 1.30.
The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.15 per share. The ex-dividend date was Friday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.37%.
RESI has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, October 8th. ValuEngine cut shares of Front Yard Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, 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.
In other news, major shareholder Deer Park Road Management Comp sold 5,000 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $11.02, for a total transaction of $55,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.88% 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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