Altisource Residential Corporation (NYSE:RESI) was the target of a significant decline in short interest in the month of July. As of July 14th, there was short interest totalling 1,413,175 shares, a decline of 42.7% from the June 30th total of 2,464,424 shares. Based on an average trading volume of 258,201 shares, the days-to-cover ratio is presently 5.5 days. Approximately 3.1% of the shares of the company are short sold.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Altisource Residential Corporation from a “hold” rating to a “strong-buy” rating and set a $17.00 target price on the stock in a research report on Wednesday, May 3rd. ValuEngine raised shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub lowered shares of Altisource Residential Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Altisource Residential Corporation in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Altisource Residential Corporation presently has a consensus rating of “Hold” and a consensus target price of $15.67.
Shares of Altisource Residential Corporation (NYSE RESI) opened at 12.16 on Friday. The firm’s market capitalization is $648.85 million. Altisource Residential Corporation has a 12 month low of $9.86 and a 12 month high of $15.66. The company has a 50 day moving average of $12.90 and a 200-day moving average of $13.68.
Altisource Residential Corporation (NYSE:RESI) last posted 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 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 company had revenue of $30.10 million for the quarter, compared to the consensus estimate of $32.55 million. During the same quarter in the previous year, the business earned ($1.16) earnings per share. Altisource Residential Corporation’s revenue was up 250.0% compared to the same quarter last year. Analysts predict that Altisource Residential Corporation will post ($2.04) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.93%. Altisource Residential Corporation’s dividend payout ratio is currently -14.42%.
A number of hedge funds and other institutional investors have recently made changes to their positions in RESI. Hilton Capital Management LLC acquired a new stake in Altisource Residential Corporation during the first quarter worth approximately $10,521,000. UBS Asset Management Americas Inc. raised its stake in shares of Altisource Residential Corporation by 59.4% in the first quarter. UBS Asset Management Americas Inc. now owns 33,959 shares of the real estate investment trust’s stock valued at $518,000 after buying an additional 12,659 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Altisource Residential Corporation by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 265,618 shares of the real estate investment trust’s stock valued at $4,051,000 after buying an additional 17,342 shares in the last quarter. Boston Partners raised its stake in Altisource Residential Corporation by 2.2% in the first quarter. Boston Partners now owns 129,716 shares of the real estate investment trust’s stock valued at $1,978,000 after buying an additional 2,829 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its stake in Altisource Residential Corporation by 5.4% in the first quarter. IndexIQ Advisors LLC now owns 49,965 shares of the real estate investment trust’s stock valued at $762,000 after buying an additional 2,543 shares in the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
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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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