Shares of Front Yard Residential Corp (NYSE:RESI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.04 and last traded at $12.52, with a volume of 41663 shares trading hands. The stock had previously closed at $11.57.
RESI has been the subject of a number of recent research reports. ValuEngine downgraded shares of Front Yard Residential from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Tuesday, November 12th. Finally, Northland Securities reiterated a “buy” rating and issued a $15.00 price target on shares of Front Yard Residential in a report on Wednesday, November 6th.
The business’s 50-day moving average price is $11.65 and its 200-day moving average price is $11.64. The stock has a market cap of $700.45 million, a PE ratio of 68.24 and a beta of 1.30.
Front Yard Residential (NYSE:RESI) last posted its quarterly earnings data on Wednesday, November 6th. The real estate investment trust reported ($0.68) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.71). Front Yard Residential had a negative return on equity of 15.28% and a negative net margin of 30.66%. The firm had revenue of $50.77 million for the quarter, compared to the consensus estimate of $52.70 million. As a group, sell-side analysts predict that Front Yard Residential Corp will post 0.03 EPS for the current year.
Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Front Yard Residential by 331.9% in the 2nd quarter. Bank of Montreal Can now owns 5,407 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 4,155 shares during the last quarter. Tower Research Capital LLC TRC acquired a new stake in Front Yard Residential during the 3rd quarter worth about $65,000. Veritable L.P. purchased a new position in shares of Front Yard Residential during the 2nd quarter valued at about $138,000. Metropolitan Life Insurance Co NY raised its stake in shares of Front Yard Residential by 36.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 21,656 shares of the real estate investment trust’s stock valued at $250,000 after buying an additional 5,788 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Front Yard Residential by 9.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 27,467 shares of the real estate investment trust’s stock valued at $318,000 after buying an additional 2,258 shares during the period. 76.56% of the stock is owned by hedge funds and other institutional investors.
About Front Yard Residential (NYSE:RESI)
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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