Front Yard Residential (RESI) PT Lowered to $12.00

Front Yard Residential (NYSE:RESI) had its target price cut by Deutsche Bank from $14.00 to $12.00 in a research report released on Tuesday morning. They currently have a buy rating on the real estate investment trust’s stock.

Several other analysts also recently weighed in on RESI. Credit Suisse Group boosted their price objective on Front Yard Residential from $14.00 to $15.00 and gave the company an outperform rating in a research report on Friday, August 10th. Zacks Investment Research downgraded Front Yard Residential from a hold rating to a sell rating in a research report on Friday, August 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Front Yard Residential has a consensus rating of Buy and a consensus price target of $14.00.

Shares of RESI stock opened at $8.50 on Tuesday. Front Yard Residential has a fifty-two week low of $7.99 and a fifty-two week high of $13.07.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Wednesday, November 7th. 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). Front Yard Residential had a negative net margin of 85.55% and a negative return on equity of 22.74%. The company had revenue of $48.31 million during the quarter, compared to the consensus estimate of $47.33 million. On average, research analysts predict that Front Yard Residential will post 0.14 EPS for the current fiscal year.

In other Front Yard Residential news, General Counsel Michael Graham Lubin bought 11,333 shares of Front Yard Residential stock in a transaction dated Thursday, November 15th. The shares were purchased at an average cost of $8.42 per share, with a total value of $95,423.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO George G. Ellison bought 27,900 shares of Front Yard Residential stock in a transaction dated Monday, November 12th. The shares were acquired at an average cost of $8.31 per share, for a total transaction of $231,849.00. The disclosure for this purchase can be found here. Insiders have bought 61,133 shares of company stock worth $508,218 over the last three months. Insiders own 0.88% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new position in shares of Front Yard Residential during the second quarter valued at approximately $149,000. State of Alaska Department of Revenue purchased a new position in shares of Front Yard Residential during the third quarter valued at approximately $171,000. Martingale Asset Management L P purchased a new position in shares of Front Yard Residential during the third quarter valued at approximately $189,000. Capital Fund Management S.A. purchased a new position in shares of Front Yard Residential during the third quarter valued at approximately $206,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Front Yard Residential during the second quarter valued at approximately $206,000. 69.99% of the stock is currently owned by hedge funds and other institutional investors.

About Front Yard Residential

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: How Does the Quiet Period Work?

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