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4-Traders Homepage  >  Equities  >  Nyse  >  Front Yard Residential Corp    RESI

FRONT YARD RESIDENTIAL CORP (RESI)
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Altisource Residential Corporation to become Front Yard Residential Corporation

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02/09/2018 | 10:16pm CEST

CHRISTIANSTED, U.S. Virgin Islands, Feb. 09, 2018 (GLOBE NEWSWIRE) -- Altisource Residential Corporation (“RESI” or the “Company”) (NYSE:RESI) has announced that it will be changing its name to Front Yard Residential Corporation effective February 21, 2018. The Company is excited to rebrand and believes that the new name reflects the Company’s focus on providing quality, affordable rental homes to families throughout the United States.

In connection with the Company’s name change, the CUSIP number assigned to the Company’s common stock will be changed to 35904G107.  The Company does not plan to change its ticker symbol on the New York Stock Exchange and will continue to trade under “RESI”.  The Company will also be unveiling a new logo, brand messaging and a re-designed website, www.FrontYardResidential.com, as part of the transition to the Front Yard Residential Corporation name on February 21, 2018.

About RESI

Additional information is available at www.altisourceresi.com.

CONTACT:

Robin N. Lowe
Chief Financial Officer
T: +1-345-815-9919
E: [email protected]

Forward-looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding management's beliefs, estimates, projections, anticipations and assumptions with respect to, among other things, the Company's financial results, future operations, business plans and investment strategies as well as industry and market conditions. These statements may be identified by words such as “anticipate,” “intend,” “expect,” “may,” “could,” “should,” “would,” “plan,” “estimate,” “seek,” “believe” and other expressions or words of similar meaning. We caution that forward-looking statements are qualified by the existence of certain risks and uncertainties that could cause actual results and events to differ materially from what is contemplated by the forward-looking statements. Factors that could cause the Company's actual results to differ materially from these forward-looking statements may include, without limitation, our ability to implement our business strategy; our ability to make distributions to stockholders; our ability to complete potential transactions in accordance with anticipated terms and on a timely basis or at all; the Company's ability to integrate newly acquired rental assets into the portfolio; difficulties in identifying single-family properties to acquire; the impact of changes to the supply of, value of and the returns on single-family rental properties and sub-performing and non-performing loans; the Company's ability to acquire single-family rental properties generating attractive returns; the Company's ability to sell residential mortgage assets or non-rental real estate owned on favorable terms or at all; the Company's ability to predict costs; the Company's ability to effectively compete with competitors; changes in interest rates; changes in the market value of single-family properties or the collateral underlying sub-performing and non-performing loan portfolios; the Company's ability to obtain and access financing arrangements on favorable terms or at all; the Company's ability to apply the net proceeds from financings or asset sales to acquire target assets in a timely manner or at all; the Company's ability to retain the exclusive engagement of Altisource Asset Management Corporation; the failure of Altisource Portfolio Solutions S.A. and its affiliates to effectively perform their obligations under various agreements with the Company; the failure of Main Street Renewal, LLC to effectively perform under its property management agreement with the Company; the failure of the Company's mortgage loan servicers to effectively perform their servicing obligations under their servicing agreements; the Company's failure to qualify or maintain qualification as a REIT; the Company's failure to maintain its exemption from registration under the Investment Company Act of 1940, as amended; the impact of adverse real estate, mortgage or housing markets; the impact of adverse legislative or regulatory tax changes and other risks and uncertainties detailed in the “Risk Factors” and other sections described from time to time in the Company's current and future filings with the Securities and Exchange Commission. In addition, financial risks such as liquidity, interest rate and credit risks could influence future results. The foregoing list of factors should not be construed as exhaustive.

The statements made in this press release are current as of the date of this press release only. The Company undertakes no obligation to publicly update or revise any forward-looking statements or any other information contained herein, whether as a result of new information, future events or otherwise.


© GlobeNewswire 2018
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Financials ($)
Sales 2018 175 M
EBIT 2018 -15,5 M
Net income 2018 -83,7 M
Debt 2018 1 394 M
Yield 2018 5,64%
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 11,2x
EV / Sales 2019 10,2x
Capitalization 569 M
Chart FRONT YARD RESIDENTIAL COR
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Front Yard Residential Cor Technical Analysis Chart | RESI | US02153W1009 | 4-Traders
Technical analysis trends FRONT YARD RESIDENTIAL COR
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 13,6 $
Spread / Average Target 28%
EPS Revisions
Managers
NameTitle
George G. Ellison Chief Executive Officer & Director
David B. Reiner Chairman
Robin N. Lowe Chief Financial Officer
Michael A. Eruzione Independent Director
Rochelle R. Dobbs Independent Director
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