Wall Street analysts expect that Front Yard Residential Corp (NYSE:RESI) will announce $50.14 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Front Yard Residential’s earnings, with estimates ranging from $48.68 million to $51.60 million. Front Yard Residential posted sales of $27.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 80.6%. The firm is expected to report its next quarterly earnings results on Thursday, March 7th.
According to Zacks, analysts expect that Front Yard Residential will report full year sales of $179.12 million for the current fiscal year, with estimates ranging from $177.66 million to $180.58 million. For the next fiscal year, analysts expect that the business will report sales of $221.23 million, with estimates ranging from $219.15 million to $223.32 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Front Yard Residential.
Several analysts have recently weighed in on the stock. Deutsche Bank lowered their price objective on shares of Front Yard Residential from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, November 20th. Zacks Investment Research cut shares of Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Saturday, December 8th.
In related news, major shareholder Deer Park Road Management Comp acquired 400,000 shares of the stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average price of $8.42 per share, for a total transaction of $3,368,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last 90 days, insiders have bought 1,400,000 shares of company stock worth $11,995,000. Corporate insiders own 0.88% of the company’s stock.
Several institutional investors have recently bought and sold shares of RESI. BlackRock Inc. raised its position in shares of Front Yard Residential by 1.0% during the 2nd quarter. BlackRock Inc. now owns 3,725,051 shares of the real estate investment trust’s stock valued at $38,814,000 after buying an additional 38,470 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Front Yard Residential during the 3rd quarter valued at $171,000. Wells Fargo & Company MN grew its holdings in shares of Front Yard Residential by 202.8% during the 3rd quarter. Wells Fargo & Company MN now owns 88,448 shares of the real estate investment trust’s stock valued at $959,000 after purchasing an additional 59,239 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Front Yard Residential by 610.5% during the 3rd quarter. SG Americas Securities LLC now owns 101,599 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 87,299 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Front Yard Residential during the 3rd quarter valued at $547,000. Hedge funds and other institutional investors own 72.73% of the company’s stock.
Front Yard Residential stock opened at $11.28 on Thursday. Front Yard Residential has a fifty-two week low of $7.99 and a fifty-two week high of $13.07.
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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