Peregrine Capital Management LLC Makes New Investment in Front Yard Residential Corp (NYSE:RESI)

Peregrine Capital Management LLC purchased a new position in Front Yard Residential Corp (NYSE:RESI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 612,802 shares of the real estate investment trust’s stock, valued at approximately $5,331,000. Peregrine Capital Management LLC owned 1.05% of Front Yard Residential at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Swiss National Bank increased its stake in Front Yard Residential by 1.5% in the 1st quarter. Swiss National Bank now owns 99,300 shares of the real estate investment trust’s stock worth $1,187,000 after buying an additional 1,500 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Front Yard Residential by 1.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 106,724 shares of the real estate investment trust’s stock worth $928,000 after buying an additional 1,675 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Front Yard Residential by 17.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 13,237 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 2,004 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Front Yard Residential by 9.5% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 34,600 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America grew its holdings in Front Yard Residential by 29.4% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 19,073 shares of the real estate investment trust’s stock worth $227,000 after acquiring an additional 4,334 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

In related news, CAO Rene Dittrich bought 8,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average cost of $6.95 per share, for a total transaction of $55,600.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Deer Park Road Management Comp purchased 150,000 shares of Front Yard Residential stock in a transaction on Wednesday, July 8th. The shares were acquired at an average cost of $8.40 per share, with a total value of $1,260,000.00. The disclosure for this purchase can be found here. Insiders purchased a total of 921,011 shares of company stock valued at $6,124,451 over the last quarter. 2.78% of the stock is owned by company insiders.

NYSE:RESI opened at $8.67 on Friday. Front Yard Residential Corp has a fifty-two week low of $6.01 and a fifty-two week high of $13.28. The stock has a market capitalization of $508.19 million, a P/E ratio of 39.41 and a beta of 0.54. The company’s 50-day simple moving average is $8.46 and its 200-day simple moving average is $10.05.

Front Yard Residential (NYSE:RESI) last released its earnings results on Monday, May 4th. The real estate investment trust reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.01. The company 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%. Equities analysts expect that Front Yard Residential Corp will post 0.36 earnings per share for the current fiscal year.

RESI has been the topic of several recent research reports. Credit Suisse Group initiated coverage on shares of Front Yard Residential in a report on Monday, May 18th. They set an “outperform” rating and a $11.00 target price on the stock. ValuEngine cut shares of Front Yard Residential from a “buy” rating to a “hold” rating in a report on Friday, June 19th. Northland Securities upgraded shares of Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.00 target price on the stock in a report on Friday, June 12th. Finally, JMP Securities upgraded shares of Front Yard Residential from a “market perform” rating to an “outperform” rating and set a $12.50 target price on the stock in a report on Monday, June 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Front Yard Residential currently has a consensus rating of “Hold” and a consensus target price of $11.83.

Front Yard Residential 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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