Front Yard Residential Corp (RESI) Expected to Announce Quarterly Sales of $50.14 Million
Wall Street analysts expect Front Yard Residential Corp (NYSE:RESI) to post $50.14 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Front Yard Residential’s earnings, with the highest sales estimate coming in at $51.60 million and the lowest estimate coming in at $48.68 million. Front Yard Residential reported sales of $27.76 million in the same quarter last year, which indicates a positive year over year growth rate of 80.6%. The firm is scheduled to announce its next earnings report on Thursday, March 7th.
On average, analysts expect that Front Yard Residential will report full year sales of $179.12 million for the current year, with estimates ranging from $177.66 million to $180.58 million. For the next year, analysts expect that the business will report sales of $221.23 million, with estimates ranging from $219.15 million to $223.32 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Front Yard Residential.
Front Yard Residential (NYSE:RESI) last released its earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share for the quarter, missing the Zacks’ 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 for the quarter, compared to the consensus estimate of $47.33 million.
Shares of Front Yard Residential stock traded down $0.16 on Tuesday, reaching $8.39. 604,295 shares of the company traded hands, compared to its average volume of 478,204. Front Yard Residential has a 52 week low of $7.99 and a 52 week high of $13.07.
In other news, General Counsel Michael Graham Lubin bought 11,333 shares of the stock in a transaction on Thursday, November 15th. The shares were acquired at an average cost of $8.42 per share, for a total transaction of $95,423.86. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robin N. Lowe bought 12,000 shares of the stock in a transaction on Friday, November 9th. The stock was purchased at an average price of $8.19 per share, for a total transaction of $98,280.00. The disclosure for this purchase can be found here. Insiders acquired a total of 61,133 shares of company stock worth $508,218 over the last quarter. Corporate insiders own 0.88% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TIAA CREF Investment Management LLC lifted its stake in Front Yard Residential by 17.0% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 131,820 shares of the real estate investment trust’s stock worth $1,430,000 after purchasing an additional 19,130 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Front Yard Residential by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 99,861 shares of the real estate investment trust’s stock valued at $1,083,000 after buying an additional 7,094 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in shares of Front Yard Residential during the 3rd quarter valued at $380,000. Capital Fund Management S.A. purchased a new stake in shares of Front Yard Residential during the 3rd quarter valued at $206,000. Finally, GSA Capital Partners LLP raised its position in shares of Front Yard Residential by 49.7% during the 3rd quarter. GSA Capital Partners LLP now owns 138,195 shares of the real estate investment trust’s stock valued at $1,499,000 after buying an additional 45,897 shares in the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.
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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