Company Overview
Front Yard Residential (RESI) is an externally-managed single-family ((SFR)) rental REIT. As of Q3-2019, RESI owns 14,403 SFR units across various states in the U.S. It's managed by Altisource Portfolio Solutions, a publicly-traded real estate management and mortgage services provider. As of FY2019, RESI has an accounting total assets of $2.05 billion vs. ~$1.65 billion of debt.
RESI's portfolio grew primarily through acquisition, which includes:
- 3,200 rental homes from Pacific Investment Management Co. for $485 million in 2018.
- 3,465 SFR units from Amherst Holdings for $534.9 million in 2017.
- 4,262 SFR units from