California Public Employees Retirement System reduced its holdings in shares of Front Yard Residential Corp (NYSE:RESI) by 29.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,008 shares of the real estate investment trust’s stock after selling 67,481 shares during the period. California Public Employees Retirement System owned about 0.30% of Front Yard Residential worth $1,657,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millennium Management LLC increased its holdings in Front Yard Residential by 33.4% during the 2nd quarter. Millennium Management LLC now owns 1,250,176 shares of the real estate investment trust’s stock valued at $13,027,000 after acquiring an additional 313,330 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Front Yard Residential by 846.6% during 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 acquiring an additional 463,008 shares in the last quarter. Citadel Advisors LLC increased its holdings in Front Yard Residential by 93.8% during the 2nd quarter. Citadel Advisors LLC now owns 161,291 shares of the real estate investment trust’s stock valued at $1,680,000 after acquiring an additional 78,054 shares in the last quarter. BlackRock Inc. increased its holdings in Front Yard Residential by 1.0% during the 2nd quarter. BlackRock Inc. now owns 3,725,051 shares of the real estate investment trust’s stock valued at $38,814,000 after acquiring an additional 38,470 shares in the last quarter. Finally, GSA Capital Partners LLP increased its holdings in Front Yard Residential by 94.3% during the 2nd quarter. GSA Capital Partners LLP now owns 92,298 shares of the real estate investment trust’s stock valued at $962,000 after acquiring an additional 44,797 shares in the last quarter. 70.78% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have weighed in on RESI. Zacks Investment Research upgraded shares of Front Yard Residential from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Credit Suisse Group lifted their price target on shares of Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Front Yard Residential presently has a consensus rating of “Hold” and a consensus target price of $15.00.
Shares of NYSE RESI opened at $8.99 on Friday. Front Yard Residential Corp has a 12 month low of $8.94 and a 12 month high of $13.07.
Front Yard Residential (NYSE:RESI) last issued its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.40) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.01. The business had revenue of $40.91 million during the quarter, compared to the consensus estimate of $42.41 million. Front Yard Residential had a negative net margin of 97.71% and a negative return on equity of 20.47%. As a group, equities analysts expect that Front Yard Residential Corp will post 0.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Friday, September 28th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.67%.
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 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.
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