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Front Yard Residential

NYSE:RESI
Snowflake Description

Mediocre balance sheet second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RESI
NYSE
$589M
Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

Front Yard is an industry leader in providing quality, affordable rental homes to America’s families. The last earnings update was 8 days ago. More info.


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RESI Share Price and Events
7 Day Returns
-0.2%
NYSE:RESI
0.2%
US REITs
-3.9%
US Market
1 Year Returns
2.9%
NYSE:RESI
13%
US REITs
1.4%
US Market
RESI Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Front Yard Residential (RESI) -0.2% 13.9% -2.8% 2.9% 13.5% -57.8%
US REITs 0.2% -1.4% 3.2% 13% 8.8% 24%
US Market -3.9% -3.6% 1.8% 1.4% 35.8% 40.8%
1 Year Return vs Industry and Market
  • RESI underperformed the REITs industry which returned 13% over the past year.
  • RESI outperformed the Market in United States of America which returned 1.4% over the past year.
Price Volatility
RESI
Industry
5yr Volatility vs Market

Value

 Is Front Yard Residential undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Front Yard Residential to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Front Yard Residential.

NYSE:RESI Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:RESI
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.53
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.531 (1 + (1- 21%) (277.14%))
1.466
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.47
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.466 * 5.96%)
11.47%

Discounted Cash Flow Calculation for NYSE:RESI using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Front Yard Residential is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Front Yard Residential is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:RESI DCF 1st Stage: Next 10 year cash flow forecast
Adjusted Funds From Operations (AFFO) (USD, Millions) Source Present Value
Discounted (@ 11.47%)
2019 6.80 Analyst x1 6.10
2020 24.75 Analyst x2 19.92
2021 24.00 Analyst x1 17.33
2022 32.00 Est @ 33.32% 20.73
2023 39.72 Est @ 24.15% 23.09
2024 46.76 Est @ 17.72% 24.38
2025 52.95 Est @ 13.22% 24.77
2026 58.28 Est @ 10.08% 24.46
2027 62.87 Est @ 7.87% 23.67
2028 66.85 Est @ 6.33% 22.58
Present value of next 10 years cash flows $207.02
NYSE:RESI DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $66.85 × (1 + 2.73%) ÷ (11.47% – 2.73%)
$786.18
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $786.18 ÷ (1 + 11.47%)10
$265.54
NYSE:RESI Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $207.02 + $265.54
$472.56
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $472.56 / 53.63
$8.81
NYSE:RESI Discount to Share Price
Calculation Result
Value per share (USD) From above. $8.81
Current discount Discount to share price of $10.98
= -1 x ($10.98 - $8.81) / $8.81
-24.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Front Yard Residential is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Front Yard Residential's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Front Yard Residential's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:RESI PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $-2.28
NYSE:RESI Share Price ** NYSE (2019-05-15) in USD $10.98
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 32.37x
United States of America Market PE Ratio Median Figure of 3,087 Publicly-Listed Companies 17.79x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Front Yard Residential.

NYSE:RESI PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:RESI Share Price ÷ EPS (both in USD)

= 10.98 ÷ -2.28

-4.82x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Front Yard Residential is loss making, we can't compare its value to the US REITs industry average.
  • Front Yard Residential is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Front Yard Residential's expected growth come at a high price?
Raw Data
NYSE:RESI PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -4.82x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
18%per year
United States of America REITs Industry PEG Ratio Median Figure of 141 Publicly-Listed REITs Companies 1.91x
United States of America Market PEG Ratio Median Figure of 2,113 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Front Yard Residential, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Front Yard Residential's assets?
Raw Data
NYSE:RESI PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.19
NYSE:RESI Share Price * NYSE (2019-05-15) in USD $10.98
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.86x
United States of America Market PB Ratio Median Figure of 5,195 Publicly-Listed Companies 1.83x
NYSE:RESI PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:RESI Share Price ÷ Book Value per Share (both in USD)

= 10.98 ÷ 8.19

1.34x

* Primary Listing of Front Yard Residential.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Front Yard Residential is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Front Yard Residential's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Front Yard Residential has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Front Yard Residential expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
18%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Front Yard Residential expected to grow at an attractive rate?
  • Unable to compare Front Yard Residential's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Front Yard Residential's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.
  • Front Yard Residential's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:RESI Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:RESI Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 18%
NYSE:RESI Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 8.9%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 5.2%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:RESI Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:RESI Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 254 107 -68 3
2020-12-31 241 100 -65 4
2019-12-31 217 80 -86 4
NYSE:RESI Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 196 -39 -122
2018-12-31 183 -36 -131
2018-09-30 158 -18 -134
2018-06-30 134 -19 -129
2018-03-31 105 -32 -163
2017-12-31 94 -48 -185
2017-09-30 78 -70 -209
2017-06-30 59 -74 -224
2017-03-31 46 -91 -232
2016-12-31 57 -113 -228
2016-09-30 69 -141 -233
2016-06-30 123 -163 -181

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Front Yard Residential is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Front Yard Residential's revenue is expected to grow by 8.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:RESI Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Front Yard Residential Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RESI Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 -1.20 -1.01 -1.35 3.00
2020-12-31 -1.31 -1.09 -1.50 3.00
2019-12-31 -1.58 -1.50 -1.70 4.00
NYSE:RESI Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 -2.28
2018-12-31 -2.44
2018-09-30 -2.51
2018-06-30 -2.41
2018-03-31 -3.06
2017-12-31 -3.47
2017-09-30 -3.90
2017-06-30 -4.16
2017-03-31 -4.29
2016-12-31 -4.18
2016-09-30 -4.23
2016-06-30 -3.24

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Front Yard Residential will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Front Yard Residential's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Front Yard Residential has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Front Yard Residential performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Front Yard Residential's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Front Yard Residential does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Front Yard Residential's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Front Yard Residential's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Front Yard Residential's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Front Yard Residential Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RESI Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 195.87 -121.99 21.47
2018-12-31 183.01 -130.84 16.84
2018-09-30 158.38 -134.09 14.17
2018-06-30 133.73 -129.08 13.29
2018-03-31 104.60 -163.45 13.16
2017-12-31 94.17 -185.45 15.13
2017-09-30 78.47 -209.18 14.22
2017-06-30 59.21 -223.91 12.91
2017-03-31 46.04 -231.73 13.12
2016-12-31 56.76 -228.03 11.84
2016-09-30 68.84 -232.98 10.88
2016-06-30 122.96 -180.71 10.67
2016-03-31 199.24 -104.09 -6.82
2015-12-31 248.10 -46.01 10.29
2015-09-30 346.17 61.64 32.71
2015-06-30 396.75 104.67 53.77
2015-03-31 437.59 159.36 87.89
2014-12-31 423.30 188.85 13.54
2014-09-30 343.03 169.02 67.08
2014-06-30 253.88 145.05 46.75
2014-03-31 145.41 82.49 28.34
2013-12-31 72.30 39.60 15.22
2012-12-31 -0.15 0.15

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Front Yard Residential has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Front Yard Residential has efficiently used its assets last year compared to the US REITs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Front Yard Residential improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Front Yard Residential's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Front Yard Residential has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Front Yard Residential's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Front Yard Residential's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Front Yard Residential is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Front Yard Residential's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Front Yard Residential's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Front Yard Residential Company Filings, last reported 1 month ago.

NYSE:RESI Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 439.32 1,631.98 50.39
2018-12-31 471.39 1,722.22 58.55
2018-09-30 525.28 1,696.93 72.72
2018-06-30 580.25 1,241.34 112.39
2018-03-31 608.87 1,253.72 115.84
2017-12-31 644.60 1,270.16 113.67
2017-09-30 688.84 1,100.11 169.94
2017-06-30 739.57 1,128.87 161.92
2017-03-31 805.17 1,295.97 61.75
2016-12-31 863.07 1,365.07 106.28
2016-09-30 934.40 1,339.66 56.89
2016-06-30 1,006.11 900.88 228.34
2016-03-31 1,080.28 1,011.08 124.56
2015-12-31 1,152.36 1,265.97 116.70
2015-09-30 1,229.02 1,442.53 83.88
2015-06-30 1,285.08 1,349.15 70.50
2015-03-31 1,303.38 1,309.13 53.25
2014-12-31 1,326.91 1,354.08 66.17
2014-09-30 1,316.81 1,423.33 76.03
2014-06-30 1,310.51 1,271.48 130.76
2014-03-31 1,268.43 699.95 48.02
2013-12-31 785.43 602.38 115.99
2012-12-31 99.91 0.00 100.01
  • Front Yard Residential's level of debt (371.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (55.7% vs 371.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Front Yard Residential has sufficient cash runway for 1.3 years based on current free cash flow.
  • Front Yard Residential has sufficient cash runway for 1.9 years if free cash flow continues to reduce at historical rates of -70.7% each year.
X
Financial health checks
We assess Front Yard Residential's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Front Yard Residential has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Front Yard Residential's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.46%
Current annual income from Front Yard Residential dividends. Estimated to be 5.54% next year.
If you bought $2,000 of Front Yard Residential shares you are expected to receive $109 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Front Yard Residential's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Front Yard Residential's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:RESI Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 184 Stocks 3.9%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1997 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:RESI Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.63 3.00
2020-12-31 0.61 5.00
2019-12-31 0.60 6.00
NYSE:RESI Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-03-19 0.600 6.016
2018-12-20 0.600 5.858
2018-09-18 0.600 6.263
2018-06-20 0.600 5.439
2018-03-20 0.600 5.849
2017-12-19 0.600 5.533
2017-09-19 0.600 5.474
2017-03-01 0.600 4.477
2016-09-26 0.700 6.148
2016-03-24 1.500 14.590
2015-12-21 1.900 17.778
2015-09-18 2.280 16.341
2015-06-18 2.280 14.045
2015-04-01 2.200 11.642
2014-12-12 2.280 11.807
2014-09-05 2.200 9.876
2014-05-29 1.800 6.992
2014-03-06 1.600 5.630
2013-12-03 1.000 3.327
2013-09-09 0.400 1.664

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Front Yard Residential has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Front Yard Residential only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Front Yard Residential's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (68.2x coverage).
X
Income/ dividend checks
We assess Front Yard Residential's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Front Yard Residential afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Front Yard Residential has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Front Yard Residential's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
George Ellison
COMPENSATION $1,750,004
AGE 60
TENURE AS CEO 3.9 years
CEO Bio

Mr. George G. Ellison has been the Chief Executive Officer of Front Yard Residential Corporation (formerly Altisource Residential Corporation) since March 2015 and served as its President from March 31, 2015 to June 30, 2015. Mr. Ellison has been the Chairman and Chief Executive Officer of Altisource Asset Management Corporation since June 2015 and February 17, 2015 respectively. He has over 30 years of high-level banking and mortgage experience. Mr. Ellison is responsible for the overall strategic direction of Altisource Asset Management Corporation and Front Yard. Prior to joining the Altisource Asset Management Corporation, he was employed for 19 years at Bank of America and its predecessor, Nationsbank. Mr. Ellison held several roles over his career at Bank of America, being the executive leading the team that managed the valuation and disposition of Bank of America's legacy mortgage loan portfolio and a leading member of Bank of America's Special Initiatives team that worked to resolve Bank of America's representation and warranty litigation. He served as the Global Head of Structured Products division within Bank of America’s Investment Banking platform since October 2007. His responsibilities involved all Structured Products including RMBS, ABS, ABCP Conduit and CMBS securities, among others. He served as a Co-Head of Global Structured Finance and Head of Global Structured Finance of Bank of America Corp. He has been a Director of Front Yard Residential Corporation since August 2015. He has been a Director of Altisource Asset Management Corporation since June 3, 2015. He holds a Bachelor of Science in Industrial Engineering the University of Pittsburgh and a Masters of Business Administration from the Wharton School of Business.

CEO Compensation
  • George's compensation has increased whilst company is loss making.
  • George's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Front Yard Residential management team in years:

3.6
Average Tenure
50
Average Age
  • The tenure for the Front Yard Residential management team is about average.
Management Team

George Ellison

TITLE
CEO & Director
COMPENSATION
$2M
AGE
60
TENURE
3.9 yrs

Robin Lowe

TITLE
Chief Financial Officer
COMPENSATION
$400K
AGE
53
TENURE
4.6 yrs

Stephen Gray

TITLE
Chief Administrative Officer & Senior Counsel
COMPENSATION
$400K
AGE
47
TENURE
3.3 yrs

Michael Lubin

TITLE
General Counsel & Corporate Secretary
COMPENSATION
$1M
AGE
42
TENURE
3.3 yrs

Alysia Cherry

TITLE
Head of Investor Relations

Miles Adams

TITLE
Senior Vice President of Property Operations
Board of Directors Tenure

Average tenure and age of the Front Yard Residential board of directors in years:

2.9
Average Tenure
62.5
Average Age
  • The average tenure for the Front Yard Residential board of directors is less than 3 years, this suggests a new board.
Board of Directors

Rochelle Dobbs

TITLE
Chairman of the Board
COMPENSATION
$214K
AGE
56
TENURE
1 yrs

George Ellison

TITLE
CEO & Director
COMPENSATION
$2M
AGE
60
TENURE
3.8 yrs

David Reiner

TITLE
Independent Director
COMPENSATION
$191K
AGE
62
TENURE
6.4 yrs

Whit McDowell

TITLE
Independent Director
COMPENSATION
$152K
AGE
66
TENURE
1.2 yrs

Mike Eruzione

TITLE
Independent Director
COMPENSATION
$143K
AGE
63
TENURE
6.4 yrs

Wade Henderson

TITLE
Independent Director
COMPENSATION
$145K
AGE
69
TENURE
2.1 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
03. Jan 19 Buy Deer Park Road Corporation Company 31. Dec 18 31. Dec 18 125,000 $8.34 $1,042,500
27. Dec 18 Buy Deer Park Road Corporation Company 24. Dec 18 26. Dec 18 400,000 $8.54 $3,368,000
07. Dec 18 Buy Deer Park Road Corporation Company 04. Dec 18 04. Dec 18 250,000 $9.30 $2,275,000
03. Dec 18 Buy Deer Park Road Corporation Company 29. Nov 18 29. Nov 18 300,000 $8.71 $2,578,000
16. Nov 18 Buy Michael Lubin Individual 15. Nov 18 15. Nov 18 11,333 $8.42 $95,424
13. Nov 18 Buy George Ellison Individual 12. Nov 18 12. Nov 18 27,900 $8.31 $231,849
13. Nov 18 Buy George McDowell Individual 12. Nov 18 12. Nov 18 3,300 $8.25 $27,225
13. Nov 18 Buy Rene Dittrich Individual 09. Nov 18 09. Nov 18 6,600 $8.40 $55,440
13. Nov 18 Buy Robin Lowe Individual 09. Nov 18 09. Nov 18 12,000 $8.19 $98,280
X
Management checks
We assess Front Yard Residential's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Front Yard Residential has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Should You Buy Front Yard Residential Corporation (NYSE:RESI) For Its 6.0% Dividend?

Is Front Yard Residential Corporation (NYSE:RESI) a good dividend stock? How would you know? A dividend paying company with growing earnings can be rewarding in the long term.. … If you are hoping to live on your dividends, it's important to be more stringent with your investments than the average punter. Regular readers know we like to apply the same approach to each dividend stock, and we hope you'll find our analysis useful.. … Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1

Simply Wall St -

What Kind Of Shareholder Owns Most Front Yard Residential Corporation (NYSE:RESI) Stock?

A look at the shareholders of Front Yard Residential Corporation (NYSE:RESI) can tell us which group is most powerful. … Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … With a market capitalization of US$523m, Front Yard Residential is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

How Do Analysts See Front Yard Residential Corporation (NYSE:RESI) Performing In The Next Couple Of Years?

Front Yard Residential Corporation's (NYSE:RESI) released its most recent earnings update in December 2018, which … company earnings became less negative compared to the previous year's level … as a result of recent tailwinds

Simply Wall St -

What Kind Of Share Price Volatility Should You Expect For Front Yard Residential Corporation (NYSE:RESI)?

If you're interested in Front Yard Residential Corporation (NYSE:RESI), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility). … While we should keep in mind that Warren Buffett has cautioned that 'Volatility is far from synonymous with risk', beta is still a useful factor to consider.

Simply Wall St -

Introducing Front Yard Residential, The Stock That Slid 63% In The Last Five Years

Front Yard Residential Corporation (NYSE:RESI) shareholders should be happy to see the share price up 24% in the last quarter. … Front Yard Residential isn't currently profitable, so most analysts would look to revenue growth to get an idea of how fast the underlying business is growing. … Over half a decade Front Yard Residential reduced its trailing twelve month revenue by 22% for each year.

Simply Wall St -

Should You Take Comfort From Insider Transactions At Front Yard Residential Corporation (NYSE:RESI)?

So we'll take a look at whether insiders have been buying or selling shares in Front Yard Residential Corporation (NYSE:RESI). … Front Yard Residential Insider Transactions Over The Last Year. … Overall, Front Yard Residential insiders were net buyers last year

Simply Wall St -

Does The Front Yard Residential Corporation (NYSE:RESI) Share Price Fall With The Market?

If you're interested in Front Yard Residential Corporation (NYSE:RESI), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful.

Simply Wall St -

Does Front Yard Residential Corporation's (NYSE:RESI) CEO Pay Matter?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does George Ellison's Compensation Compare With Similar Sized Companies. … According to our data, Front Yard Residential Corporation has a market capitalization of US$441m, and pays its CEO total annual compensation worth US$2m.

Simply Wall St -

Before You Buy Front Yard Residential Corporation's (NYSE:RESI), Consider This

For Front Yard Residential Corporation’s (NYSE:RESI) shareholders, and also potential investors in the stock, understanding how the stock’s risk and return characteristics can impact your portfolio is important. … The second risk is market-wide, which arises from investing in the stock market. … A widely-used metric to measure a stock's market risk is beta, and the broad market index represents a beta value of one.

Simply Wall St -

Why Front Yard Residential Corporation (NYSE:RESI)'s 5.51% Dividend Is Not A Good Reason To Buy

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Front Yard Residential Corporation (NYSE:RESI) has returned to shareholders over the past 5 years, an average dividend yield of 8.00% annually. … Does Front Yard Residential tick all the boxes of a great dividend stock?

Simply Wall St -

Company Info

Description

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. Our mission is to provide our tenants with houses they are proud to call home.

Details
Name: Front Yard Residential Corporation
RESI
Exchange: NYSE
Founded: 2012
$588,859,639
53,630,204
Website: http://www.FrontYardResidential.com
Address: Front Yard Residential Corporation
5100 Tamarind Reef,
Christiansted,
Virgin Islands, 00820,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE RESI Common Stock New York Stock Exchange US USD 13. Dec 2012
DB 41A Common Stock Deutsche Boerse AG DE EUR 13. Dec 2012
Number of employees
Current staff
Staff numbers
140
Front Yard Residential employees.
Industry
Residential REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/16 02:31
End of day share price update: 2019/05/15 00:00
Last estimates confirmation: 2019/05/14
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.