Front Yard Residential Corp (NYSE:RESI) saw a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,270,000 shares, an increase of 12.4% from the June 15th total of 1,130,000 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 1.0 days.

Shares of NYSE RESI traded up $0.05 during mid-day trading on Tuesday, reaching $8.69. The company had a trading volume of 272,900 shares, compared to its average volume of 1,028,609. The stock has a market capitalization of $509.41 million, a PE ratio of -8.28 and a beta of 0.54. Front Yard Residential has a twelve month low of $6.01 and a twelve month high of $13.28. The stock’s 50 day moving average is $8.00 and its 200-day moving average is $10.54.

Front Yard Residential (NYSE:RESI) last issued its quarterly earnings data on Monday, May 4th. The real estate investment trust reported ($0.37) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.01. The firm had revenue of $54.33 million during the quarter. Front Yard Residential had a negative net margin of 27.34% and a negative return on equity of 16.10%. Sell-side analysts forecast that Front Yard Residential will post 0.36 EPS for the current fiscal year.

RESI has been the topic of several recent analyst reports. ValuEngine downgraded shares of Front Yard Residential from a “buy” rating to a “hold” rating in a research note on Friday, June 19th. Credit Suisse Group started coverage on shares of Front Yard Residential in a research note on Monday, May 18th. They issued an “outperform” rating and a $11.00 price target on the stock. Northland Securities raised shares of Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.00 price target on the stock in a research note on Friday, June 12th. Finally, JMP Securities raised shares of Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.50 price target on the stock in a research note on Monday, June 8th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.38.

In other news, major shareholder Deer Park Road Management Comp bought 125,000 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were bought at an average cost of $11.38 per share, with a total value of $1,422,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Rene Dittrich bought 8,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average cost of $6.95 per share, for a total transaction of $55,600.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 896,011 shares of company stock worth $6,286,951. Company insiders own 2.78% of the company’s stock.

A number of large investors have recently modified their holdings of RESI. Advisor Group Holdings Inc. bought a new stake in Front Yard Residential in the first quarter worth $77,000. Jane Street Group LLC bought a new stake in Front Yard Residential in the first quarter worth $134,000. Arizona State Retirement System bought a new stake in Front Yard Residential in the first quarter worth $144,000. Victory Capital Management Inc. boosted its holdings in Front Yard Residential by 56.3% in the fourth quarter. Victory Capital Management Inc. now owns 12,071 shares of the real estate investment trust’s stock worth $149,000 after purchasing an additional 4,346 shares in the last quarter. Finally, Gamco Investors INC. ET AL bought a new stake in Front Yard Residential in the first quarter worth $152,000. Hedge funds and other institutional investors own 80.62% 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 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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