Altisource Residential Corp. (RESI) Lowered to Sell at Zacks Investment Research
Altisource Residential Corp. (NYSE:RESI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Altisource Residential Corporation is engaged in the acquisition and ownership of single-family rental assets. Altisource Residential Corporation is based in Frederiksted, U.S. “
Several other research analysts have also commented on the company. Deutsche Bank AG set a $18.50 target price on Altisource Residential Corp. and gave the stock a “buy” rating in a research report on Thursday, August 18th. Northland Securities started coverage on Altisource Residential Corp. in a research report on Thursday, August 18th. They issued an “outperform” rating for the company. Citigroup Inc. lifted their target price on Altisource Residential Corp. from $9.00 to $11.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 17th. Finally, Nomura reiterated a “buy” rating and issued a $15.00 target price on shares of Altisource Residential Corp. in a research report on Friday, September 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.42.
Altisource Residential Corp. (NYSE:RESI) opened at 11.21 on Friday. The stock’s market cap is $610.55 million. Altisource Residential Corp. has a 52-week low of $7.81 and a 52-week high of $14.07. The firm has a 50-day moving average price of $10.42 and a 200 day moving average price of $10.19.
Altisource Residential Corp. (NYSE:RESI) last issued its quarterly earnings data on Monday, November 7th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by $0.58. Altisource Residential Corp. had a negative net margin of 338.43% and a negative return on equity of 16.34%. The business had revenue of $4.40 million for the quarter, compared to analyst estimates of $27.97 million. During the same quarter last year, the business earned ($0.09) EPS. Equities analysts anticipate that Altisource Residential Corp. will post ($2.78) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Thursday, October 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 5.35%. The ex-dividend date was Tuesday, October 4th. Altisource Residential Corp.’s payout ratio is currently -14.22%.
In other Altisource Residential Corp. news, CEO George G. Ellison bought 22,000 shares of the business’s stock in a transaction on Thursday, November 10th. The shares were purchased at an average price of $11.30 per share, with a total value of $248,600.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.12% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Fox Run Management L.L.C. acquired a new stake in shares of Altisource Residential Corp. during the second quarter valued at $141,000. Magnetar Financial LLC increased its stake in shares of Altisource Residential Corp. by 6.7% in the first quarter. Magnetar Financial LLC now owns 35,504 shares of the company’s stock valued at $426,000 after buying an additional 2,239 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Altisource Residential Corp. by 10.3% in the second quarter. Bank of New York Mellon Corp now owns 217,052 shares of the company’s stock valued at $1,995,000 after buying an additional 20,325 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Altisource Residential Corp. by 4.9% in the second quarter. Global X Management Co. LLC now owns 740,858 shares of the company’s stock valued at $6,808,000 after buying an additional 34,494 shares during the last quarter. Finally, Kennedy Capital Management Inc. acquired a new stake in shares of Altisource Residential Corp. during the first quarter valued at $6,416,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
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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