Shares of Altisource Residential Corp (NYSE:RESI) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the company. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $15.29.
Several brokerages have issued reports on RESI. Credit Suisse Group AG began coverage on shares of Altisource Residential Corp in a research report on Monday, February 27th. They issued an “outperform” rating and a $15.00 price target for the company. They noted that the move was a valuation call. Instinet reiterated a “buy” rating and set a $18.00 price objective (up from $15.00) on shares of Altisource Residential Corp in a research report on Monday, March 20th. Zacks Investment Research upgraded shares of Altisource Residential Corp from a “sell” rating to a “hold” rating in a research report on Wednesday, February 1st. Deutsche Bank AG decreased their price objective on shares of Altisource Residential Corp from $17.50 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 22nd. Finally, Citigroup Inc increased their price objective on shares of Altisource Residential Corp from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Monday, March 20th.
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Shares of Altisource Residential Corp (NYSE:RESI) traded down 1.25% during midday trading on Monday, reaching $15.00. 382,344 shares of the company’s stock traded hands. Altisource Residential Corp has a 52-week low of $7.81 and a 52-week high of $15.66. The firm’s market cap is $805.01 million. The company has a 50 day moving average of $14.40 and a 200 day moving average of $12.15.
Altisource Residential Corp (NYSE:RESI) last announced its quarterly earnings results on Wednesday, March 1st. The company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by $0.63. Altisource Residential Corp had a negative net margin of 338.43% and a negative return on equity of 16.34%. The business earned $12.06 million during the quarter, compared to analyst estimates of $24.07 million. During the same quarter last year, the company posted ($1.18) earnings per share. The company’s revenue was down 50.0% compared to the same quarter last year. On average, equities analysts predict that Altisource Residential Corp will post ($1.48) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 13th. Stockholders of record on Friday, March 31st will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, March 29th. Altisource Residential Corp’s dividend payout ratio (DPR) is presently -14.22%.
In other news, CEO George G. Ellison acquired 20,000 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was bought at an average cost of $14.47 per share, for a total transaction of $289,400.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Altisource Residential Corp by 17.4% in the fourth quarter. FMR LLC now owns 7,428,416 shares of the company’s stock valued at $82,009,000 after buying an additional 1,100,086 shares in the last quarter. State Street Corp raised its position in shares of Altisource Residential Corp by 2.8% in the fourth quarter. State Street Corp now owns 1,107,235 shares of the company’s stock valued at $12,225,000 after buying an additional 30,410 shares in the last quarter. Laurel Wealth Advisors Inc. raised its position in shares of Altisource Residential Corp by 227.8% in the third quarter. Laurel Wealth Advisors Inc. now owns 57,027 shares of the company’s stock valued at $622,000 after buying an additional 39,630 shares in the last quarter. HBK Investments L P raised its position in shares of Altisource Residential Corp by 828.7% in the third quarter. HBK Investments L P now owns 117,940 shares of the company’s stock valued at $1,286,000 after buying an additional 105,240 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of Altisource Residential Corp during the third quarter valued at about $474,000. 73.38% of the stock is currently owned by institutional investors and hedge funds.
Altisource Residential Corp Company Profile
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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