Front Yard Residential Corp (NYSE:RESI) declared a quarterly dividend on Tuesday, June 18th, NASDAQ reports. Investors of record on Friday, June 28th will be given a dividend of 0.15 per share by the real estate investment trust on Friday, July 12th. This represents a $0.60 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date of this dividend is Thursday, June 27th.
Front Yard Residential has decreased its dividend by an average of 28.6% per year over the last three years. Front Yard Residential has a dividend payout ratio of 272.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.
NYSE RESI traded down $0.06 during trading hours on Wednesday, reaching $11.60. The company’s stock had a trading volume of 22,220 shares, compared to its average volume of 273,806. Front Yard Residential has a 1-year low of $7.99 and a 1-year high of $13.07. The firm has a 50-day moving average price of $11.47.
Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.37). The business had revenue of $52.63 million during the quarter, compared to analyst estimates of $52.61 million. Front Yard Residential had a negative return on equity of 24.20% and a negative net margin of 62.28%. As a group, equities analysts anticipate that Front Yard Residential will post 0.26 EPS for the current fiscal year.
A number of research firms recently weighed in on RESI. Northland Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Front Yard Residential in a report on Wednesday, May 8th. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Front Yard Residential presently has an average rating of “Buy” and an average price target of $14.00.
In other Front Yard Residential news, Director George Whitfield Mcdowell purchased 5,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $54,350.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rochelle R. Dobbs purchased 10,000 shares of the business’s stock in a transaction on Friday, May 31st. The stock was acquired at an average price of $11.38 per share, for a total transaction of $113,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 50,000 shares of company stock valued at $555,800. Company insiders own 0.88% of the company’s stock.
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 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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