Front Yard Residential Corp (RESI) Shares Sold by Peregrine Capital Management LLC
Peregrine Capital Management LLC decreased its position in shares of Front Yard Residential Corp (NYSE:RESI) by 1.5% in the third quarter, Holdings Channel reports. The firm owned 468,452 shares of the real estate investment trust’s stock after selling 7,078 shares during the period. Peregrine Capital Management LLC’s holdings in Front Yard Residential were worth $5,083,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Front Yard Residential during the second quarter valued at $149,000. Dynamic Technology Lab Private Ltd acquired a new stake in Front Yard Residential during the first quarter valued at $157,000. State of Alaska Department of Revenue acquired a new stake in Front Yard Residential during the third quarter valued at $171,000. Fox Run Management L.L.C. acquired a new stake in Front Yard Residential during the second quarter valued at $206,000. Finally, Barclays PLC boosted its position in Front Yard Residential by 176.0% during the first quarter. Barclays PLC now owns 21,730 shares of the real estate investment trust’s stock valued at $217,000 after purchasing an additional 13,858 shares during the last quarter. 70.61% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on RESI shares. Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Wednesday, October 10th. ValuEngine raised Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, Credit Suisse Group lifted their price objective on Front Yard Residential from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.
Front Yard Residential (NYSE:RESI) last released its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.01. The firm had revenue of $40.91 million during the quarter, compared to analysts’ expectations of $42.41 million. Front Yard Residential had a negative return on equity of 20.47% and a negative net margin of 97.71%. Sell-side analysts predict that Front Yard Residential Corp will post 0.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were given a $0.15 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.06%.
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 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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