Zacks Investment Research Downgrades Front Yard Residential (RESI) to Sell
Front Yard Residential (NYSE:RESI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.
According to Zacks, “Front Yard Residential Corporation, operates as a Real Estate Investment Trust (REIT). It acquires single-family rental properties primarily through the acquisition of sub-performing and non-performing loan portfolios. Front Yard Residential formerly known as Altisource Residential Corporation, is based in Christiansted, Virgin Islands. “
Other equities analysts also recently issued reports about the company. ValuEngine downgraded Front Yard Residential from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. JMP Securities raised Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $15.00 price target for the company in a report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $15.33.
Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Tuesday, May 8th. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.02). Front Yard Residential had a negative return on equity of 24.38% and a negative net margin of 156.26%. The company had revenue of $39.77 million for the quarter, compared to analyst estimates of $33.78 million. research analysts anticipate that Front Yard Residential will post -1.55 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its holdings in Front Yard Residential by 351.9% in the first quarter. Meeder Asset Management Inc. now owns 10,456 shares of the real estate investment trust’s stock valued at $105,000 after purchasing an additional 8,142 shares in the last quarter. QS Investors LLC purchased a new stake in Front Yard Residential in the fourth quarter valued at approximately $128,000. Teacher Retirement System of Texas purchased a new stake in Front Yard Residential in the fourth quarter valued at approximately $208,000. Barclays PLC lifted its stake in Front Yard Residential by 176.0% in the first quarter. Barclays PLC now owns 21,730 shares of the real estate investment trust’s stock valued at $217,000 after buying an additional 13,858 shares during the last quarter. Finally, Wolverine Trading LLC lifted its stake in Front Yard Residential by 109.4% in the fourth quarter. Wolverine Trading LLC now owns 20,526 shares of the real estate investment trust’s stock valued at $243,000 after buying an additional 10,726 shares during the last quarter. 79.19% of the stock is owned by hedge funds and other institutional investors.
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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