TCNGF - Front Yard Residential: Stock Performance Lagging Fundamental Improvements
Operation Seems Fine
The SFR as an asset class is showing resiliency and Front Yard Residential (RESI) is no exception. August 2020 operating data continue to show a high level of collection and a continuation of strong rent growth. The major driving factor seems to be the increased demand for isolated rental space in the midst of the COVID crisis for families.
Both rent growth on renewals and positive re-leasing spread contribute to the overall rent growth. The high level of collection is most likely helped by all the economic stimulus packages, but