Altisource Residential Corporation (NYSE:RESI) was the recipient of a significant decline in short interest during the month of October. As of October 13th, there was short interest totalling 923,512 shares, a decline of 38.6% from the September 29th total of 1,503,126 shares. Based on an average daily trading volume, of 154,782 shares, the days-to-cover ratio is currently 6.0 days. Approximately 2.0% of the shares of the stock are sold short.
Several hedge funds have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio grew its holdings in Altisource Residential Corporation by 27.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 7,437 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 1,623 shares during the last quarter. SG Americas Securities LLC bought a new stake in Altisource Residential Corporation in the 2nd quarter worth $114,000. Arrowstreet Capital Limited Partnership bought a new stake in Altisource Residential Corporation in the 2nd quarter worth $294,000. Public Employees Retirement Association of Colorado bought a new stake in Altisource Residential Corporation in the 2nd quarter worth $330,000. Finally, Voya Investment Management LLC grew its holdings in Altisource Residential Corporation by 7.7% in the 2nd quarter. Voya Investment Management LLC now owns 28,170 shares of the real estate investment trust’s stock worth $365,000 after acquiring an additional 2,005 shares during the last quarter. 73.44% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on RESI. BidaskClub lowered shares of Altisource Residential Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, Northland Securities reiterated a “buy” rating and set a $17.00 price target on shares of Altisource Residential Corporation in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $15.38.
Altisource Residential Corporation (RESI) opened at 10.63 on Tuesday. The stock’s 50 day moving average is $11.02 and its 200-day moving average is $12.72. The firm’s market cap is $567.21 million. Altisource Residential Corporation has a one year low of $9.86 and a one year high of $15.66.
Altisource Residential Corporation (NYSE:RESI) last released its earnings results on Tuesday, August 8th. The real estate investment trust reported ($1.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.30). Altisource Residential Corporation had a negative net margin of 378.17% and a negative return on equity of 21.82%. The business had revenue of $30.10 million for the quarter, compared to the consensus estimate of $32.55 million. During the same period in the prior year, the business posted ($1.16) EPS. Altisource Residential Corporation’s revenue for the quarter was up 250.0% on a year-over-year basis. On average, equities research analysts expect that Altisource Residential Corporation will post ($2.62) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 5.64%. The ex-dividend date of this dividend was Thursday, September 28th. Altisource Residential Corporation’s dividend payout ratio is currently -14.42%.
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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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