Altisource Residential Corporation (NYSE:RESI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, July 25th.
Several other research analysts have also recently issued reports on RESI. Zacks Investment Research raised Altisource Residential Corporation from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a research note on Wednesday, May 3rd. ValuEngine raised Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $15.67.
Altisource Residential Corporation (NYSE:RESI) traded up 1.08% during midday trading on Tuesday, reaching $12.16. The company’s stock had a trading volume of 820,706 shares. The company’s 50-day moving average price is $12.90 and its 200-day moving average price is $13.68. The company’s market capitalization is $648.85 million. Altisource Residential Corporation has a 1-year low of $9.86 and a 1-year high of $15.66.
Altisource Residential Corporation (NYSE:RESI) last released its quarterly earnings results on Tuesday, August 8th. The real estate investment trust reported ($1.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by $0.30. Altisource Residential Corporation had a negative return on equity of 21.82% and a negative net margin of 378.17%. The business had revenue of $30.10 million during the quarter, compared to the consensus estimate of $32.55 million. During the same period in the previous year, the company posted ($1.16) EPS. The company’s revenue for the quarter was up 250.0% compared to the same quarter last year. On average, analysts predict that Altisource Residential Corporation will post ($2.04) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in RESI. Public Employees Retirement System of Ohio increased its stake in shares of Altisource Residential Corporation by 27.9% in the first quarter. Public Employees Retirement System of Ohio now owns 7,437 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,623 shares in the last quarter. SG Americas Securities LLC acquired a new position in Altisource Residential Corporation during the second quarter valued at $114,000. GSA Capital Partners LLP acquired a new position in Altisource Residential Corporation during the fourth quarter valued at $144,000. Quantbot Technologies LP raised its position in Altisource Residential Corporation by 1,008.9% in the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 8,878 shares during the last quarter. Finally, Utah Retirement Systems acquired a new position in Altisource Residential Corporation during the first quarter valued at $157,000. 74.07% of the stock is owned by institutional investors and hedge funds.
About Altisource Residential Corporation
Altisource Residential Corporation is a real estate investment trust (REIT). The Company focuses on acquiring, owning and managing single-family rental (SFR) properties throughout the United States. The Company conducts its activities through its subsidiary, Altisource Residential, L.P., and its subsidiaries.
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