Brokerages Anticipate Front Yard Residential Corp (RESI) Will Announce Quarterly Sales of $52.61 Million

Wall Street brokerages expect Front Yard Residential Corp (NYSE:RESI) to report sales of $52.61 million for the current quarter, according to Zacks. Two analysts have made estimates for Front Yard Residential’s earnings. The highest sales estimate is $52.77 million and the lowest is $52.45 million. Front Yard Residential posted sales of $39.77 million during the same quarter last year, which would indicate a positive year over year growth rate of 32.3%. The company is expected to announce its next quarterly earnings results on Tuesday, May 14th.

On average, analysts expect that Front Yard Residential will report full-year sales of $223.77 million for the current financial year, with estimates ranging from $223.62 million to $223.91 million. For the next financial year, analysts forecast that the company will report sales of $245.28 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Front Yard Residential.

Front Yard Residential (NYSE:RESI) last announced its quarterly earnings data on Wednesday, February 27th. The real estate investment trust reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.66). Front Yard Residential had a negative net margin of 71.49% and a negative return on equity of 23.94%.

Separately, Zacks Investment Research raised Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Front Yard Residential by 32.5% in the fourth quarter. Geode Capital Management LLC now owns 681,675 shares of the real estate investment trust’s stock valued at $5,951,000 after acquiring an additional 167,255 shares during the last quarter. Norges Bank bought a new position in Front Yard Residential in the 4th quarter worth approximately $7,025,000. Dimensional Fund Advisors LP raised its position in Front Yard Residential by 323.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 217,428 shares of the real estate investment trust’s stock worth $1,898,000 after purchasing an additional 166,122 shares during the last quarter. FMR LLC raised its position in Front Yard Residential by 9.3% in the 4th quarter. FMR LLC now owns 3,689,642 shares of the real estate investment trust’s stock worth $32,210,000 after purchasing an additional 314,400 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Front Yard Residential by 986.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 58,242 shares of the real estate investment trust’s stock worth $508,000 after purchasing an additional 52,880 shares during the last quarter. 71.94% of the stock is currently owned by institutional investors.

Shares of Front Yard Residential stock traded up $0.06 during midday trading on Friday, hitting $9.95. The company’s stock had a trading volume of 11,163 shares, compared to its average volume of 634,850. Front Yard Residential has a 1-year low of $7.99 and a 1-year high of $13.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend is Thursday, March 28th.

About Front Yard Residential

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 that 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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