Altisource Residential Corp. (RESI) Rating Reiterated by JMP Securities
Altisource Residential Corp. (NYSE:RESI)‘s stock had its “hold” rating reaffirmed by JMP Securities in a research note issued on Thursday.
Other analysts also recently issued reports about the company. Deutsche Bank AG set a $18.50 target price on Altisource Residential Corp. and gave the company a “buy” rating in a research report on Thursday, August 18th. Zacks Investment Research downgraded Altisource Residential Corp. from a “hold” rating to a “sell” rating in a research report on Friday, November 11th. Northland Securities began coverage on Altisource Residential Corp. in a research report on Thursday, August 18th. They set an “outperform” rating for the company. Citigroup Inc. upped their price objective 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 restated a “buy” rating and set a $15.00 price objective 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 issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $14.42.
Shares of Altisource Residential Corp. (NYSE:RESI) opened at 12.09 on Thursday. The company has a 50-day moving average price of $10.69 and a 200-day moving average price of $10.20. The firm’s market capitalization is $651.28 million. Altisource Residential Corp. has a 12 month low of $7.81 and a 12 month high of $14.07.
Altisource Residential Corp. (NYSE:RESI) last released its earnings results 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. The company had revenue of $4.40 million for the quarter, compared to the consensus estimate of $27.97 million. Altisource Residential Corp. had a negative net margin of 338.43% and a negative return on equity of 16.34%. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Equities analysts forecast that Altisource Residential Corp. will post ($2.82) EPS for the current fiscal year.
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In related news, Director David B. Reiner purchased 3,500 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was bought at an average price of $11.57 per share, with a total value of $40,495.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George G. Ellison purchased 22,000 shares of the firm’s stock in a transaction dated Thursday, November 10th. The stock was bought at an average cost of $11.30 per share, with a total value of $248,600.00. The disclosure for this purchase can be found here. 0.12% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of RESI. KCG Holdings Inc. bought a new stake in shares of Altisource Residential Corp. during the third quarter valued at $117,000. BlackRock Inc. boosted its stake in shares of Altisource Residential Corp. by 231.5% in the second quarter. BlackRock Inc. now owns 15,077 shares of the company’s stock valued at $138,000 after buying an additional 10,529 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Altisource Residential Corp. during the second quarter valued at $141,000. Mackenzie Financial Corp bought a new stake in shares of Altisource Residential Corp. during the third quarter valued at $141,000. Finally, SG Americas Securities LLC bought a new stake in shares of Altisource Residential Corp. during the third quarter valued at $158,000. 81.56% of the stock is owned by 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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