Teacher Retirement System of Texas reduced its holdings in Front Yard Residential Corp (NYSE:RESI) by 35.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,261 shares of the real estate investment trust’s stock after selling 6,261 shares during the period. Teacher Retirement System of Texas’ holdings in Front Yard Residential were worth $113,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Meeder Asset Management Inc. lifted its position in shares of Front Yard Residential by 351.9% in the first quarter. Meeder Asset Management Inc. now owns 10,456 shares of the real estate investment trust’s stock valued at $105,000 after acquiring an additional 8,142 shares in the last quarter. QS Investors LLC purchased a new position in shares of Front Yard Residential in the fourth quarter valued at approximately $128,000. Wolverine Trading LLC lifted its position in shares of Front Yard Residential by 109.4% in the fourth quarter. Wolverine Trading LLC now owns 20,526 shares of the real estate investment trust’s stock valued at $243,000 after acquiring an additional 10,726 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Front Yard Residential in the fourth quarter valued at approximately $261,000. Finally, Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Front Yard Residential by 66.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,600 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 9,000 shares in the last quarter. 71.92% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on RESI shares. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Wednesday, June 20th. ValuEngine downgraded Front Yard Residential from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $15.33.
Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Tuesday, May 8th. The real estate investment trust reported ($0.51) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.02). Front Yard Residential had a negative return on equity of 24.38% and a negative net margin of 156.26%. The company had revenue of $39.77 million for the quarter, compared to analysts’ expectations of $33.78 million. equities research analysts anticipate that Front Yard Residential Corp will post -1.68 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Friday, June 29th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.68%.
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.
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