Putnam Investments LLC lowered its position in shares of Front Yard Residential Corp (NYSE:RESI) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,314,754 shares of the real estate investment trust’s stock after selling 442,200 shares during the period. Putnam Investments LLC owned approximately 9.92% of Front Yard Residential worth $55,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC boosted its position in shares of Front Yard Residential by 732.5% during the 1st quarter. Millennium Management LLC now owns 936,846 shares of the real estate investment trust’s stock worth $9,415,000 after purchasing an additional 824,307 shares during the period. Deer Park Road Corp boosted its position in shares of Front Yard Residential by 28.8% during the 1st quarter. Deer Park Road Corp now owns 3,458,598 shares of the real estate investment trust’s stock worth $34,759,000 after purchasing an additional 773,559 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Front Yard Residential during the 2nd quarter worth approximately $4,955,000. Brown Advisory Inc. boosted its position in Front Yard Residential by 16.3% in the 1st quarter. Brown Advisory Inc. now owns 3,377,768 shares of the real estate investment trust’s stock valued at $33,946,000 after buying an additional 473,642 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Front Yard Residential by 846.6% in the 2nd quarter. Renaissance Technologies LLC now owns 517,700 shares of the real estate investment trust’s stock valued at $5,394,000 after buying an additional 463,008 shares during the period. Institutional investors and hedge funds own 72.07% of the company’s stock.
RESI has been the subject of several recent research reports. Zacks Investment Research cut shares of Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Credit Suisse Group raised their price target on shares of Front Yard Residential from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Finally, ValuEngine cut shares of Front Yard Residential from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $15.00.
Shares of RESI stock opened at $11.34 on Monday. Front Yard Residential Corp has a 52 week low of $9.28 and a 52 week high of $13.07.
Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.01. Front Yard Residential had a negative net margin of 97.71% and a negative return on equity of 20.47%. The business had revenue of $40.91 million for the quarter, compared to analyst estimates of $42.41 million. analysts forecast that Front Yard Residential Corp will post 0.22 EPS for the current fiscal year.
Front Yard Residential 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 which 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.
Featured Story: What is a Fiduciary?
Receive News & Ratings for Front Yard Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Front Yard Residential and related companies with MarketBeat.com's FREE daily email newsletter.