Stock Traders Buy Large Volume of Put Options on Front Yard Residential (RESI)

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Front Yard Residential Corp (NYSE:RESI) was the recipient of unusually large options trading on Tuesday. Traders purchased 2,828 put options on the stock. This is an increase of approximately 2,075% compared to the average daily volume of 130 put options.

In other Front Yard Residential news, major shareholder Deer Park Road Management Comp acquired 125,000 shares of Front Yard Residential stock in a transaction that occurred on Tuesday, December 31st. The stock was bought at an average cost of $8.34 per share, for a total transaction of $1,042,500.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George G. Ellison acquired 27,900 shares of Front Yard Residential stock in a transaction that occurred on Monday, November 12th. The stock was acquired at an average price of $8.31 per share, with a total value of $231,849.00. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,461,133 shares of company stock valued at $12,503,218. 0.88% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Strs Ohio grew its stake in shares of Front Yard Residential by 5.9% during the 4th quarter. Strs Ohio now owns 85,628 shares of the real estate investment trust’s stock valued at $747,000 after purchasing an additional 4,737 shares during the period. Teachers Advisors LLC grew its stake in shares of Front Yard Residential by 7.6% during the 3rd quarter. Teachers Advisors LLC now owns 99,861 shares of the real estate investment trust’s stock valued at $1,083,000 after purchasing an additional 7,094 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Front Yard Residential by 1,357.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,890 shares of the real estate investment trust’s stock valued at $139,000 after purchasing an additional 14,800 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Front Yard Residential during the 3rd quarter valued at about $171,000. Finally, Martingale Asset Management L P bought a new stake in shares of Front Yard Residential during the 3rd quarter valued at about $189,000. Institutional investors and hedge funds own 72.89% of the company’s stock.

Several equities research analysts recently commented on RESI shares. Deutsche Bank reduced their price objective on Front Yard Residential from $14.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, November 20th. Zacks Investment Research downgraded Front Yard Residential from a “hold” rating to a “sell” rating in a report on Saturday, December 8th.

NYSE RESI opened at $11.04 on Wednesday. Front Yard Residential has a one year low of $7.99 and a one year high of $13.07.

Front Yard Residential (NYSE:RESI) last released its quarterly earnings results on Wednesday, November 7th. The real estate investment trust reported ($0.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.93). The firm had revenue of $48.31 million for the quarter, compared to the consensus estimate of $47.33 million. Front Yard Residential had a negative net margin of 85.55% and a negative return on equity of 22.74%. As a group, sell-side analysts predict that Front Yard Residential will post 0.14 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, January 11th. Shareholders of record on Monday, December 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, December 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.43%.

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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.

Further Reading: How can investors find ex-dividend dates?

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