Altisource Residential Corp. (NYSE:RESI) Receives Average Recommendation of “Hold” from Analysts
Shares of Altisource Residential Corp. (NYSE:RESI) have received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $14.92.
A number of research analysts have recently weighed in on the company. Zacks Investment Research downgraded Altisource Residential Corp. from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Nomura raised Altisource Residential Corp. from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $15.00 in a research note on Tuesday, August 23rd. Citigroup Inc. increased their price target on Altisource Residential Corp. from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Northland Securities started coverage on Altisource Residential Corp. in a research note on Thursday, August 18th. They set an “outperform” rating on the stock. Finally, Deutsche Bank AG set a $18.50 price objective on Altisource Residential Corp. and gave the stock a “buy” rating in a research note on Thursday, August 18th.
Shares of Altisource Residential Corp. (NYSE:RESI) traded down 1.01% on Monday, reaching $10.79. The company’s stock had a trading volume of 397,086 shares. Altisource Residential Corp. has a 52-week low of $7.81 and a 52-week high of $16.00. The company’s market cap is $587.68 million. The company has a 50 day moving average price of $10.71 and a 200 day moving average price of $10.46.
Altisource Residential Corp. (NYSE:RESI) last posted its quarterly earnings results on Monday, August 8th. The company reported ($1.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $1.30. Altisource Residential Corp. had a negative net margin of 146.96% and a negative return on equity of 10.58%. During the same period last year, the company posted $0.23 earnings per share. On average, analysts anticipate that Altisource Residential Corp. will post ($2.56) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, October 6th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Tuesday, October 4th. Altisource Residential Corp.’s dividend payout ratio (DPR) is presently -18.46%.
Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in Altisource Residential Corp. during the second quarter worth about $141,000. OMERS ADMINISTRATION Corp purchased a new position in Altisource Residential Corp. during the first quarter worth about $445,000. Magnetar Financial LLC boosted its position in Altisource Residential Corp. by 6.7% in the first quarter. Magnetar Financial LLC now owns 35,504 shares of the company’s stock worth $426,000 after buying an additional 2,239 shares during the period. Renaissance Technologies LLC boosted its position in Altisource Residential Corp. by 497.7% in the first quarter. Renaissance Technologies LLC now owns 80,400 shares of the company’s stock worth $965,000 after buying an additional 66,948 shares during the period. Finally, Kennedy Capital Management Inc. purchased a new position in Altisource Residential Corp. during the first quarter worth about $6,416,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
About Altisource Residential Corp.
Altisource Residential Corporation is a real estate investment trust (REIT). The Company is focused on acquiring, owning and managing single-family rental properties throughout the United States. The Company operates through the segment focused on the resolution of sub-performing and non-performing mortgages, and acquisition and ownership of rental residential properties.
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