Analysts predict that Front Yard Residential Corp (NYSE:RESI) will report sales of $53.35 million for the current quarter, according to Zacks. Two analysts have made estimates for Front Yard Residential’s earnings, with the highest sales estimate coming in at $53.59 million and the lowest estimate coming in at $53.11 million. Front Yard Residential reported sales of $48.31 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.4%. The company is scheduled to issue its next earnings report on Wednesday, November 6th.
On average, analysts expect that Front Yard Residential will report full year sales of $212.68 million for the current fiscal year, with estimates ranging from $212.54 million to $212.82 million. For the next financial year, analysts anticipate that the company will post sales of $239.04 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Front Yard Residential.
A number of equities analysts have commented on the stock. Zacks Investment Research lowered shares of Front Yard Residential from a “hold” rating to a “sell” rating in a report on Wednesday. Northland Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Front Yard Residential in a report on Wednesday, May 8th.
In related news, Director Rochelle R. Dobbs bought 10,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $11.38 per share, with a total value of $113,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Deer Park Road Management Comp sold 9,780 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $12.23, for a total transaction of $119,609.40. The disclosure for this sale can be found here. Insiders sold a total of 247,917 shares of company stock worth $2,992,792 in the last quarter. 0.88% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Front Yard Residential by 0.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,127,554 shares of the real estate investment trust’s stock worth $87,100,000 after purchasing an additional 18,972 shares during the last quarter. FMR LLC grew its position 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 valued at $36,709,000 after buying an additional 270,400 shares during the last quarter. BlackRock Inc. grew its position 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 valued at $47,575,000 after buying an additional 60,475 shares during the last quarter. Morgan Stanley grew its position 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 valued at $22,282,000 after buying an additional 181,179 shares during the last quarter. Finally, Monarch Partners Asset Management LLC grew its position in shares of Front Yard Residential by 148.4% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 1,066,574 shares of the real estate investment trust’s stock valued at $13,034,000 after buying an additional 637,174 shares during the last quarter. 77.72% of the stock is owned by institutional investors.
Shares of NYSE:RESI traded down $0.07 during midday trading on Thursday, hitting $11.18. 61,647 shares of the company’s stock traded hands, compared to its average volume of 316,252. Front Yard Residential has a twelve month low of $7.99 and a twelve month high of $13.02. The company has a market cap of $605.59 million, a PE ratio of 51.23 and a beta of 1.26. The firm’s fifty day moving average price is $11.75 and its two-hundred day moving average price is $11.06.
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 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.
Featured Story: Buy-Side Analysts
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Front Yard Residential Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Front Yard Residential and related companies with MarketBeat.com's FREE daily email newsletter.