Front Yard Residential: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

CHRISTIANSTED, Virgin Islands (AP) _ Front Yard Residential Corp. (RESI) on Monday reported a key measure of profitability in its second quarter.

The Christiansted, Virgin Islands-based real estate investment trust said it had funds from operations of $10.3 million, or 18 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $4 million, or 7 cents per share.

The owner of single-family rental properties, based in Christiansted, Virgin Islands, posted revenue of $55.1 million in the period.

The company's shares have decreased 26% since the beginning of the year. The stock has declined 21% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RESI at https://www.zacks.com/ap/RESI