Wall Street analysts predict that Front Yard Residential Corp (NYSE:RESI) will announce earnings per share of $0.07 for the current quarter, Zacks reports. Two analysts have provided estimates for Front Yard Residential’s earnings. Front Yard Residential posted earnings of $0.05 per share during the same quarter last year, which would indicate a positive year over year growth rate of 40%. The company is expected to announce its next earnings results on Wednesday, November 6th.
On average, analysts expect that Front Yard Residential will report full year earnings of $0.28 per share for the current fiscal year. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Front Yard Residential.
RESI has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Front Yard Residential from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Northland Securities reissued a “buy” rating and set a $15.00 price target on shares of Front Yard Residential in a report on Wednesday, May 8th.
In related news, major shareholder Deer Park Road Management Comp sold 213,137 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $12.06, for a total value of $2,570,432.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rochelle R. Dobbs bought 25,000 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $10.87 per share, with a total value of $271,750.00. Following the transaction, the director now directly owns 23,642 shares in the company, valued at $256,988.54. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 45,000 shares of company stock valued at $501,450 and sold 247,917 shares valued at $2,992,792. Corporate insiders own 0.88% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in RESI. Norges Bank bought a new position in Front Yard Residential in the 4th quarter valued at about $7,025,000. Monarch Partners Asset Management LLC lifted its holdings in Front Yard Residential by 148.4% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 1,066,574 shares of the real estate investment trust’s stock valued at $13,034,000 after acquiring an additional 637,174 shares during the last quarter. FMR LLC lifted its holdings in Front Yard Residential by 9.3% in the 4th quarter. FMR LLC now owns 3,689,642 shares of the real estate investment trust’s stock valued at $32,210,000 after acquiring an additional 314,400 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Front Yard Residential by 32.5% in the 4th quarter. Geode Capital Management LLC now owns 681,675 shares of the real estate investment trust’s stock valued at $5,951,000 after acquiring an additional 167,255 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Front Yard Residential by 323.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,428 shares of the real estate investment trust’s stock valued at $1,898,000 after acquiring an additional 166,122 shares during the last quarter. Hedge funds and other institutional investors own 73.90% of the company’s stock.
Shares of RESI traded down $0.06 during midday trading on Tuesday, hitting $11.15. 275,486 shares of the stock traded hands, compared to its average volume of 324,875. Front Yard Residential has a 1-year low of $7.99 and a 1-year high of $13.07. The company has a market capitalization of $606.02 million, a price-to-earnings ratio of 51.36 and a beta of 1.26. The company’s 50 day simple moving average is $11.91.
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.
Recommended Story: Stock Symbols and CUSIP Explained
Get a free copy of the Zacks research report on Front Yard Residential (RESI)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.