Front Yard Residential (NYSE:RESI) Hits New 12-Month High at $13.04

Front Yard Residential Corp (NYSE:RESI) reached 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 changing hands. The stock had previously closed at $11.57.

RESI has been the topic of several recent research reports. ValuEngine lowered shares of Front Yard Residential from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Front Yard Residential from a “hold” rating to a “sell” rating in a report on Tuesday, November 12th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $15.00 price target on shares of Front Yard Residential in a report on Wednesday, November 6th.

The company has a market capitalization of $625.01 million, a PE ratio of 68.24 and a beta of 1.30. The firm’s fifty day simple moving average is $11.62 and its 200 day simple moving average is $11.62.

Front Yard Residential (NYSE:RESI) last posted its quarterly earnings results 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 net margin of 30.66% and a negative return on equity of 15.28%. The business had revenue of $50.77 million during the quarter, compared to analysts’ expectations of $52.70 million. As a group, equities analysts forecast that Front Yard Residential Corp will post 0.03 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Front Yard Residential by 0.3% in the second quarter. Vanguard Group Inc. now owns 7,127,554 shares of the real estate investment trust’s stock valued at $87,100,000 after purchasing an additional 18,972 shares during the last quarter. FMR LLC boosted its stake in shares of Front Yard Residential by 7.3% during the 1st quarter. FMR LLC now owns 3,960,042 shares of the real estate investment trust’s stock worth $36,709,000 after acquiring an additional 270,400 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Front Yard Residential by 1.6% during the 2nd quarter. BlackRock Inc. now owns 3,893,069 shares of the real estate investment trust’s stock worth $47,575,000 after acquiring an additional 60,475 shares in the last quarter. Morgan Stanley boosted its stake in shares of Front Yard Residential by 11.0% during the 2nd quarter. Morgan Stanley now owns 1,823,368 shares of the real estate investment trust’s stock worth $22,282,000 after acquiring an additional 181,179 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Front Yard Residential by 2.7% during the 3rd quarter. State Street Corp now owns 1,680,095 shares of the real estate investment trust’s stock worth $19,674,000 after acquiring an additional 44,167 shares in the last quarter. 76.56% of the stock is currently owned by institutional investors.

Front Yard Residential Company Profile (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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