Sumitomo Mitsui Trust Holdings Inc. Lowers Position in Front Yard Residential Corp (NYSE:RESI)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Front Yard Residential Corp (NYSE:RESI) by 38.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,570 shares of the real estate investment trust’s stock after selling 18,800 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.06% of Front Yard Residential worth $274,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Front Yard Residential by 20.5% during the fourth quarter. Bank of New York Mellon Corp now owns 330,923 shares of the real estate investment trust’s stock worth $2,889,000 after acquiring an additional 56,289 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Front Yard Residential by 48.4% during the fourth quarter. Rhumbline Advisers now owns 82,289 shares of the real estate investment trust’s stock worth $718,000 after acquiring an additional 26,821 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Front Yard Residential by 323.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 217,428 shares of the real estate investment trust’s stock worth $1,898,000 after acquiring an additional 166,122 shares in the last quarter. Menta Capital LLC purchased a new stake in shares of Front Yard Residential during the fourth quarter worth $1,356,000. Finally, Bessemer Group Inc. purchased a new stake in shares of Front Yard Residential during the fourth quarter worth $59,000. Hedge funds and other institutional investors own 73.84% of the company’s stock.

Several research firms have issued reports on RESI. Zacks Investment Research upgraded Front Yard Residential from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Northland Securities reiterated a “buy” rating and issued a $15.00 price objective on shares of Front Yard Residential in a research report on Wednesday, May 8th.

Shares of RESI stock traded up $0.33 on Friday, reaching $12.22. The company’s stock had a trading volume of 1,121,595 shares, compared to its average volume of 360,252. Front Yard Residential Corp has a 12-month low of $7.99 and a 12-month high of $13.07. The company has a 50 day simple moving average of $11.55.

Front Yard Residential (NYSE:RESI) last issued its quarterly earnings data on Wednesday, May 8th. The real estate investment trust reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.37). Front Yard Residential had a negative return on equity of 24.20% and a negative net margin of 62.28%. The business had revenue of $52.63 million during the quarter, compared to analysts’ expectations of $52.61 million. Sell-side analysts predict that Front Yard Residential Corp will post 0.26 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Friday, June 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.91%.

In other news, Director Rochelle R. Dobbs bought 10,000 shares of Front Yard Residential stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average price of $11.59 per share, with a total value of $115,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Whitfield Mcdowell bought 5,000 shares of Front Yard Residential stock in a transaction that occurred on Monday, May 13th. The stock was purchased at an average cost of $10.87 per share, for a total transaction of $54,350.00. The disclosure for this purchase can be found here. Insiders purchased 50,000 shares of company stock worth $555,800 in the last quarter. 0.88% of the stock is currently owned by company insiders.

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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Institutional Ownership by Quarter for Front Yard Residential (NYSE:RESI)

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