Insider Buying: Front Yard Residential Corp (RESI) Major Shareholder Acquires 250,000 Shares of Stock

Front Yard Residential Corp (NYSE:RESI) major shareholder Deer Park Road Management Comp bought 250,000 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were acquired at an average cost of $9.10 per share, with a total value of $2,275,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Deer Park Road Management Comp also recently made the following trade(s):

  • On Thursday, November 29th, Deer Park Road Management Comp bought 300,000 shares of Front Yard Residential stock. The shares were acquired at an average cost of $8.59 per share, with a total value of $2,577,000.00.

NYSE:RESI opened at $9.69 on Monday. Front Yard Residential Corp has a twelve month low of $7.99 and a twelve month high of $13.07.

Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.93). Front Yard Residential had a negative return on equity of 22.74% and a negative net margin of 85.55%. The firm had revenue of $48.31 million for the quarter, compared to analyst estimates of $47.33 million. On average, sell-side analysts anticipate that Front Yard Residential Corp will post 0.14 earnings per share for the current fiscal year.

A number of research firms have weighed in on RESI. Zacks Investment Research downgraded Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $14.00.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new stake in shares of Front Yard Residential in the 3rd quarter valued at approximately $1,363,000. Vanguard Group Inc. boosted its holdings in shares of Front Yard Residential by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,054,282 shares of the real estate investment trust’s stock valued at $76,539,000 after buying an additional 127,899 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Front Yard Residential by 17.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 131,820 shares of the real estate investment trust’s stock valued at $1,430,000 after buying an additional 19,130 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Front Yard Residential by 7.6% in the 3rd quarter. Teachers Advisors LLC now owns 99,861 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 7,094 shares during the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in shares of Front Yard Residential in the 3rd quarter valued at approximately $380,000. 72.08% of the stock is owned by institutional investors.

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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 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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