Front Yard Residential Corp (NYSE:RESI) shares dropped 6.5% during trading on Thursday . The company traded as low as $9.43 and last traded at $9.46. Approximately 876,449 shares changed hands during trading, an increase of 125% from the average daily volume of 388,719 shares. The stock had previously closed at $10.12.

RESI has been the topic of a number of research analyst reports. Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a report on Tuesday, July 17th. ValuEngine raised Front Yard Residential from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Finally, Credit Suisse Group raised their price target on Front Yard Residential from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Front Yard Residential has a consensus rating of “Hold” and a consensus target price of $15.00.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.01. The business had revenue of $40.91 million for the quarter, compared to the consensus estimate of $42.41 million. Front Yard Residential had a negative return on equity of 20.47% and a negative net margin of 97.71%. Equities research analysts forecast that Front Yard Residential Corp will post 0.22 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Friday, September 28th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend was Thursday, September 27th.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in Front Yard Residential during the 2nd quarter valued at $149,000. Dynamic Technology Lab Private Ltd bought a new stake in Front Yard Residential during the 1st quarter valued at $157,000. State of Alaska Department of Revenue bought a new stake in Front Yard Residential during the 3rd quarter valued at $171,000. Fox Run Management L.L.C. bought a new stake in Front Yard Residential during the 2nd quarter valued at $206,000. Finally, Barclays PLC raised its stake in Front Yard Residential by 176.0% during the 1st quarter. Barclays PLC now owns 21,730 shares of the real estate investment trust’s stock valued at $217,000 after acquiring an additional 13,858 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors and hedge funds.

About Front Yard Residential (NYSE:RESI)

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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