CHRISTIANSTED, Virgin Islands – CHRISTIANSTED, Virgin Islands (AP) _ Front Yard Residential Corp. (RESI) on Wednesday reported a key measure of profitability in its third quarter.
The real estate investment trust, based in Christiansted, Virgin Islands, said it had funds from operations of $2.5 million, or 5 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 a loss of $47.9 million, or 89 cents per share.
The owner of single-family rental properties, based in Christiansted, Virgin Islands, posted revenue of $48.3 million in the period.
The company's shares have decreased 21 percent since the beginning of the year. The stock has decreased 15 percent in the last 12 months.
This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on RESI at https://www.zacks.com/ap/RESI