Altisource Residential Corporation (RESI) Rating Lowered to Sell at BidaskClub

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.

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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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