Royal Bank of Canada Lowers Dream Finders Homes (NASDAQ:DFH) to Underperform

Dream Finders Homes (NASDAQ:DFH – Get Rating) was downgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “underperform” rating in a research note issued on Friday, Marketbeat reports. They currently have a $8.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 21.26% from the stock’s previous close.

Dream Finders Homes Stock Performance

DFH opened at $10.16 on Friday. Dream Finders Homes has a one year low of $8.17 and a one year high of $23.09. The stock has a market capitalization of $942.44 million, a PE ratio of 4.60, a P/E/G ratio of 0.46 and a beta of 1.09. The business’s 50 day moving average price is $9.65 and its 200 day moving average price is $10.94.

Dream Finders Homes (NASDAQ:DFH – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.06). Dream Finders Homes had a net margin of 7.54% and a return on equity of 49.28%. The business had revenue of $785.67 million during the quarter, compared to analyst estimates of $800.40 million. As a group, equities research analysts forecast that Dream Finders Homes will post 2.45 earnings per share for the current fiscal year.

Institutional Trading of Dream Finders Homes

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DFH. Advisor Group Holdings Inc. raised its position in Dream Finders Homes by 148.3% in the first quarter. Advisor Group Holdings Inc. now owns 2,856 shares of the company’s stock valued at $49,000 after purchasing an additional 1,706 shares during the period. Swiss National Bank raised its position in Dream Finders Homes by 7.4% in the first quarter. Swiss National Bank now owns 42,000 shares of the company’s stock valued at $717,000 after purchasing an additional 2,900 shares during the period. Bank of New York Mellon Corp raised its position in Dream Finders Homes by 8.9% in the first quarter. Bank of New York Mellon Corp now owns 58,685 shares of the company’s stock valued at $1,002,000 after purchasing an additional 4,776 shares during the period. US Bancorp DE purchased a new stake in shares of Dream Finders Homes during the first quarter worth $251,000. Finally, Citigroup Inc. increased its position in shares of Dream Finders Homes by 63.1% during the first quarter. Citigroup Inc. now owns 70,155 shares of the company’s stock worth $1,198,000 after acquiring an additional 27,149 shares during the period. Hedge funds and other institutional investors own 20.73% of the company’s stock.

About Dream Finders Homes

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Dream Finders Homes, Inc operates as a holding company for Dream Finders Holdings LLC that engages in homebuilding business in the United States. It designs, constructs, and sells single-family entry-level, and first-time and second time move-up homes in Charlotte, Raleigh, Jacksonville, Orlando, Denver, the Washington DC metropolitan area, Austin, Dallas, and Houston.