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Results(5) #RESI

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Front Yard Residential Announces Termination of Merger Agreement with Amherst and Provides Business Update - News released on Mon, 04 May 2020 08:16:13 -0400 - REITNewsHeadlines - 2020-05-05 23:32:27 PDT - See full comment

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This is unfortunate for #RESI. In connection with the termination of the merger agreement, Amherst has agreed to pay a $25 million fee to Front Yard, purchase 4.4 million shares of Front Yard common stock in a primary issuance at $12.50 per share for an aggregate purchase price of $55 million and provide a $20 million committed two-year unsecured loan facility to Front Yard. #RESI did have some good numbers to report for Q1. Rental revenues increased to $54.3 million for the first quarter of 2020, up 4.3% over the fourth quarter of 2019.
The first quarter of 2020 was Front Yard’s best ever operational quarter with Core Funds from Operations (“FFO”) of $0.12 per diluted share, an improvement of $0.07 per diluted share over the fourth quarter 2019.1
March 31, 2020 was Front Yard’s best ever stabilized leased percentage of 97.0%, up 200 basis points from 95.0% as of December 31, 2019.
April rent collections exceeded 99% of Front Yard’s trailing 12-month average and stabilized leased percentage increased to 97.7% at April 30, 2020. - Kev B - 2020-05-05 23:32:27 PDT

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Front Yard Residential Enters Definitive Agreement to be Acquired by Amherst Residential for $12.50 Per Share in Cash - News released on Tue, 18 Feb 2020 07:47:19 -0500 - REITNewsHeadlines - 2020-02-19 22:11:10 PDT - See full comment

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A lot of big deals happening early on this year! Now, #RESI for $12.50! - CapitalKing - 2020-02-19 22:11:10 PDT

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Front Yard Residential Corporation Reports Third Quarter 2019 Results - News released on Wed, 06 Nov 2019 07:32:25 -0500 - REITNewsHeadlines - 2019-11-10 10:27:13 PDT - See full comment

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So #RESI is also going through the pains of internalizing management and this is having a direct impact on its FFO & Core FFO results: “During the third quarter of 2019, we focused on addressing the operational challenges that we encountered following the internalization of property management earlier in the year in which we quintupled the number of properties on our internal platform,” stated George Ellison, Chief Executive Officer. “This impacted our operating results in the third quarter, but we are seeing improved metrics in October that we expect will drive stronger results in the fourth quarter.” - LLNN - 2019-11-10 10:27:13 PDT

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Single-family-home REIT business is a hard one to manage if you ask me. - Davestew - 2019-11-11 19:48:44 PDT


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Front Yard Residential Corporation Announces Quarterly Cash Dividend - News released on Tue, 18 Jun 2019 21:28:36 -0400 - REITNewsHeadlines - 2019-06-19 10:08:39 PDT - See full comment

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They declared $0.15 dividend payment per common share, that is consistent with previous quarter dividend payment. - Omick99 - 2019-06-19 10:08:39 PDT

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#Resi hasn’t raised their dividends from $0.15 since they cut it down from $0.55 per quarter in Q4/2015. With their FFO & AFFO values, I don’t expect them to be able to afford to raise the dividends anytime soon. - Fyryr - 2019-06-19 20:08:25 PDT


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Which REITs do you think have too much leverage and Debt? - Faston - 2019-06-12 18:08:52 PDT - See full comment

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It is important to also look at debt levels relevant to a specific REIT sector, as some sector may require higher debt levels due to the type of properties and the cash-flows of that business and sector can support higher ratios. - BlueBlue - 2019-06-15 12:43:58 PDT

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Hi Faston, to answer the question. Brookfield Property REIT - #PBR has one of the highest leverages of the REITs I have come across, from what I calculated for Q1 2019 they have a Total Shareholder Equity to Total Assets ratio of just 3.52%. I own some #PBR stocks because I believe in the REIT and parent companies potential, so let’s see where this goes. - YolpnoB - 2019-06-13 23:53:39 PDT

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From the REIT’s balance sheets I have been analyzing this evening, some that have higher leverage (Debt-to-Assets), (Debt-to-equity), (Equity-to-Assets) ratios are #CBL, #RESI Front Yard Residential, #SRG Sertigate. This is not an exhaustive list just some I have found so far, I’m also not sure how they rank with others. I will continue to look through more REITs and call out any others I find worth mentioning. - Gekko5 - 2019-06-12 23:26:10 PDT

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It is funny how things change, 10 years ago some investors used to think and comment that mall REITs could have higher debt-levels because malls were considered more stable forms of income. How things change, right? #CBL now with its debt/asset level of 75% in the most recent quarter is highly leveraged making it challenging to fuel the necessary turn-around. - Kev B - 2019-06-22 11:46:53 PDT

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Is cbl though reducing its leverage with the sales of some malls each year? - heyyo - 2019-06-16 15:48:16 PDT