Front Yard Residential (NYSE:RESI) issued its quarterly earnings data on Wednesday. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.93), Fidelity Earnings reports. Front Yard Residential had a negative return on equity of 20.47% and a negative net margin of 97.71%. The business had revenue of $48.31 million during the quarter, compared to the consensus estimate of $47.33 million.
NYSE RESI traded down $0.26 on Friday, reaching $8.22. 1,519,956 shares of the stock were exchanged, compared to its average volume of 1,060,398. Front Yard Residential has a one year low of $8.38 and a one year high of $13.07.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Friday, September 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 7.30%. The ex-dividend date of this dividend was Thursday, September 27th.
A number of research firms have commented on RESI. Zacks Investment Research upgraded shares of Front Yard Residential from a “sell” rating to a “hold” rating in a research note on Tuesday, July 17th. Credit Suisse Group raised their target price on shares of Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note 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 assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $15.00.
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.
Further Reading: Earnings Per Share
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