Front Yard Residential Corp (NYSE:RESI) Short Interest Update

Front Yard Residential Corp (NYSE:RESI) saw a large decrease in short interest in May. As of May 31st, there was short interest totalling 1,809,800 shares, a decrease of 24.9% from the April 30th total of 2,410,700 shares. Based on an average daily volume of 395,900 shares, the days-to-cover ratio is currently 4.6 days. Approximately 3.7% of the company’s stock are short sold.

A number of research firms have recently issued reports on RESI. Zacks Investment Research cut shares of Front Yard Residential from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Northland Securities reissued a “buy” rating and set a $15.00 price objective on shares of Front Yard Residential in a research report on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Front Yard Residential currently has an average rating of “Buy” and an average target price of $14.00.

NYSE RESI traded up $0.21 during trading hours on Monday, hitting $12.44. The company’s stock had a trading volume of 24,346 shares, compared to its average volume of 313,654. Front Yard Residential has a 52 week low of $7.99 and a 52 week high of $13.07. The company’s 50-day moving average price is $10.99.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings results on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.37). Front Yard Residential had a negative net margin of 62.28% and a negative return on equity of 24.20%. The business had revenue of $52.63 million during the quarter, compared to the consensus estimate of $52.61 million. As a group, equities analysts predict that Front Yard Residential will post 0.26 EPS for the current fiscal year.

In related news, Director George Whitfield Mcdowell acquired 5,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were bought at an average price of $10.87 per share, with a total value of $54,350.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Rochelle R. Dobbs acquired 25,000 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were bought at an average cost of $10.87 per share, for a total transaction of $271,750.00. Following the transaction, the director now directly owns 23,642 shares in the company, valued at $256,988.54. The disclosure for this purchase can be found here. Insiders have bought a total of 50,000 shares of company stock worth $555,800 in the last three months. Insiders own 0.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of Front Yard Residential by 8.8% during the 4th quarter. BlackRock Inc. now owns 4,012,445 shares of the real estate investment trust’s stock worth $35,028,000 after buying an additional 324,366 shares in the last quarter. FMR LLC lifted 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 worth $36,709,000 after buying an additional 270,400 shares in the last quarter. Norges Bank bought a new position in shares of Front Yard Residential during the 4th quarter worth approximately $7,025,000. Geode Capital Management LLC lifted its position in shares of Front Yard Residential by 32.5% during the 4th quarter. Geode Capital Management LLC now owns 681,675 shares of the real estate investment trust’s stock worth $5,951,000 after buying an additional 167,255 shares in the last quarter. Finally, Monarch Partners Asset Management LLC bought a new position in shares of Front Yard Residential during the 1st quarter worth approximately $3,981,000. 73.84% of the stock is currently owned by institutional investors and hedge funds.

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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 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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