Front Yard Residential (NYSE:RESI) had its price objective reduced by Deutsche Bank from $14.00 to $12.00 in a research note issued on Tuesday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Deutsche Bank’s price objective points to a potential upside of 43.54% from the company’s current price.

A number of other research analysts have also weighed in on the company. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a report on Wednesday, October 10th. Credit Suisse Group increased their price target on Front Yard Residential from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, August 10th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $14.00.

Shares of RESI stock traded down $0.19 during trading hours on Tuesday, reaching $8.36. The company had a trading volume of 4,318 shares, compared to its average volume of 1,234,900. Front Yard Residential has a 12 month low of $7.99 and a 12 month high of $13.07.

Front Yard Residential (NYSE:RESI) last posted 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 during the quarter, compared to the consensus estimate of $47.33 million. Equities research analysts anticipate that Front Yard Residential will post 0.14 EPS for the current fiscal year.

In other news, General Counsel Michael Graham Lubin purchased 11,333 shares of the company’s stock in a transaction on Thursday, November 15th. The stock was purchased at an average price of $8.42 per share, with a total value of $95,423.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO George G. Ellison bought 27,900 shares of the stock in a transaction dated Monday, November 12th. The stock was bought at an average cost of $8.31 per share, with a total value of $231,849.00. The disclosure for this purchase can be found here. Insiders have purchased 61,133 shares of company stock valued at $508,218 over the last ninety days. 0.88% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Front Yard Residential by 846.6% in the 2nd quarter. Renaissance Technologies LLC now owns 517,700 shares of the real estate investment trust’s stock worth $5,394,000 after buying an additional 463,008 shares in the last quarter. Millennium Management LLC grew its position in shares of Front Yard Residential by 33.4% during the second quarter. Millennium Management LLC now owns 1,250,176 shares of the real estate investment trust’s stock valued at $13,027,000 after purchasing an additional 313,330 shares in the last quarter. American Century Companies Inc. grew its position in shares of Front Yard Residential by 77.7% during the second quarter. American Century Companies Inc. now owns 291,109 shares of the real estate investment trust’s stock valued at $3,033,000 after purchasing an additional 127,268 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Front Yard Residential by 610.5% during the third quarter. SG Americas Securities LLC now owns 101,599 shares of the real estate investment trust’s stock valued at $1,102,000 after purchasing an additional 87,299 shares in the last quarter. Finally, Citadel Advisors LLC grew its position in shares of Front Yard Residential by 93.8% during the second quarter. Citadel Advisors LLC now owns 161,291 shares of the real estate investment trust’s stock valued at $1,680,000 after purchasing an additional 78,054 shares in the last quarter. 69.99% of the stock is currently owned by institutional investors and hedge funds.

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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