Residential Secure Income (LON:RESI) Trading 1.1% Higher – Still a Buy?

Residential Secure Income plc (LON:RESI)’s share price traded up 1.1% during trading on Wednesday . The stock traded as high as GBX 57.35 and last traded at GBX 55.80. Approximately 2,100,583 shares traded hands during mid-day trading, an increase of 288% from the average session volume of 541,036 shares. The stock had previously closed at GBX 55.20.

Residential Secure Income Stock Performance

The firm has a market cap of £103.40 million, a price-to-earnings ratio of -69.80 and a beta of 0.45. The business’s 50 day moving average price is GBX 53.36 and its 200 day moving average price is GBX 54.34.

Residential Secure Income (LON:RESI) last posted its earnings results on Wednesday, June 24th. The company reported GBX 0.60 earnings per share for the quarter. Residential Secure Income had a negative net margin of 30.59% and a negative return on equity of 6.87%. The firm had revenue of GBX 1,491 million during the quarter. Sell-side analysts anticipate that Residential Secure Income plc will post 6.1000003 earnings per share for the current fiscal year.

About Residential Secure Income

Residential Secure Income plc (ReSI or the Company) (LSE: RESI) is a real estate investment trust (REIT) focused on delivering secure, inflation-linked returns in two sub-sectors in UK residential housing; independent retirement rentals and shared ownership, which are underpinned by an ageing demographic and untapped, strong demand for affordable homes. Our purpose is to deliver affordable, high-quality, safe homes with great customer service and long-term stability of tenure for residents. We achieve this through meeting demand from housing developers (housing associations, local authorities and private developers) for long-term investment partners to accelerate the development of socially and economically beneficial affordable housing.