Front Yard Residential (RESI) Announces Earnings Results, Misses Estimates By $0.37 EPS
Front Yard Residential (NYSE:RESI) posted its quarterly earnings results on Wednesday. The real estate investment trust reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.37), MarketWatch Earnings reports. The business had revenue of $52.63 million for the quarter, compared to analyst estimates of $52.61 million. Front Yard Residential had a negative return on equity of 23.94% and a negative net margin of 71.49%.
RESI stock remained flat at $$11.00 during trading on Friday. 279,325 shares of the company’s stock were exchanged, compared to its average volume of 371,604. Front Yard Residential has a one year low of $7.99 and a one year high of $13.07.
The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Friday, March 29th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, March 28th.
Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Front Yard Residential by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,054,282 shares of the real estate investment trust’s stock valued at $76,539,000 after acquiring an additional 127,899 shares during the period. Vanguard Group Inc raised its stake in shares of Front Yard Residential by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 7,054,282 shares of the real estate investment trust’s stock valued at $76,539,000 after acquiring an additional 127,899 shares during the period. BlackRock Inc. raised its stake in shares of Front Yard Residential by 8.8% in the 4th quarter. BlackRock Inc. now owns 4,012,445 shares of the real estate investment trust’s stock valued at $35,028,000 after acquiring an additional 324,366 shares during the period. FMR LLC raised its stake in shares of 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 period. Finally, Norges Bank purchased a new stake in shares of Front Yard Residential in the 4th quarter valued at approximately $7,025,000. 71.72% of the stock is currently owned by institutional investors and hedge funds.
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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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