Finance

Stock News Spotlight: Front Yard Residential Corporation (NYSE:RESI)

Front Yard Residential Corporation (NYSE:RESI) spotted trading -4.52% off 52-week high price. On the other end, the stock has been noted 38.28% away from the low price over the last 52-weeks. The stock changed 0.96% to recent value of $12.68. The stock transacted 1731080 shares during most recent day however it has an average volume of 505.70K shares. The company has 54.01M of outstanding shares and 48.98M shares were floated in the market.

On Feb. 28, 2020, Front Yard Residential Corporation (NYSE:RESI) reported financial and operating results for the fourth quarter and full year of 2019.

Fourth Quarter 2019 Highlights and Recent Developments

  • Entered into definitive merger agreement on February 17, 2020 with affiliates of Amherst Residential, LLC (Amherst) whereby Amherst will acquire Front Yard for $12.50 per share in a transaction valued at approximately $2.3 billion, including debt to be assumed or refinanced.
  • Increased rental revenue by 2.6% over third quarter 2019 to $52.1 million.
  • Full-company Core Funds from Operations was $0.05 per diluted share.
  • Stabilized Rental Core Net Operating Income Margin was 57.6%.
  • 0% of stabilized rentals were leased at December 31, 2019.
  • Fully divested all remaining mortgage loans.
  • Sold 92 non-core homes, resulting in a net gain of $1.5 million over carrying value.
  • 91% of debt had fixed or capped rates at December 31, 2019 compared to 87% at December 31, 2018.
  • Weighted average debt maturity was 4.7 years at December 31, 2019.

Our fourth quarter numbers reflect the team’s continued focus on improving the operating metrics and financial performance of our rental portfolio, said Chief Executive Officer, George Ellison. We believe our transaction with Amherst allows us to realize immediate value for our shareholders and further enhance the experience of our residents.

Its earnings per share (EPS) expected to touch remained 29.50% for this year while earning per share for the next 5-years is expected to reach at 10.00%. RESI has a gross margin of 57.70% and an operating margin of -55.90% while its profit margin remained -54.60% for the last 12 months.

The price moved ahead of 8.55% from the mean of 20 days, 6.16% from mean of 50 days SMA and performed 8.13% from mean of 200 days price. Company’s performance for the week was 0.48%, 14.03% for month and YTD performance remained 2.76%.

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