Front Yard Residential raises cash with property sales

• The company's HavenBrrok Homes sold a portfolio of 212 South Florida homes for $47.5M, or an average of $224K each.
• Front Yard (NYSE:RESI) purchased HavenBrook and its 3.2K rental property portfolio last summer for $485M.
• Bulls will hope RESI plans on using that cash to buy back stock, thus maybe helping to narrow the gap between the current price of $11.45 and estimated NAV per share in the area of $18-$19.