JPMorgan Chase & Co. Boosts Altisource Residential Corp. (RESI) Price Target to $15.00
Altisource Residential Corp. (NYSE:RESI) had its target price increased by research analysts at JPMorgan Chase & Co. from $14.00 to $15.00 in a research report issued on Wednesday. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 27.33% from the company’s previous close.
RESI has been the subject of several other research reports. Zacks Investment Research raised shares of Altisource Residential Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 19th. Northland Securities began coverage on shares of Altisource Residential Corp. in a research report on Thursday, August 18th. They issued an “outperform” rating for the company. Nomura reissued a “buy” rating and issued a $15.00 price objective on shares of Altisource Residential Corp. in a research report on Friday, September 23rd. Deutsche Bank AG set a $18.50 target price on shares of Altisource Residential Corp. and gave the company a “buy” rating in a research note on Thursday, August 18th. Finally, Citigroup Inc. upped their target price on shares of Altisource Residential Corp. from $9.00 to $11.00 and gave the company a “neutral” rating in a research note on Wednesday, August 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Altisource Residential Corp. has an average rating of “Hold” and a consensus target price of $14.25.
Shares of Altisource Residential Corp. (NYSE:RESI) traded up 0.51% during midday trading on Wednesday, reaching $11.78. 339,864 shares of the company traded hands. The company has a 50 day moving average of $10.74 and a 200 day moving average of $10.20. The firm’s market capitalization is $634.58 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 quarterly earnings data on Monday, November 7th. The company reported ($1.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by $0.58. Altisource Residential Corp. had a negative return on equity of 16.34% and a negative net margin of 338.43%. The business earned $4.40 million during the quarter, compared to analyst estimates of $27.97 million. During the same period in the previous year, the company earned ($0.09) EPS. On average, equities research analysts predict that Altisource Residential Corp. will post ($2.82) earnings per share for the current fiscal year.
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In related news, Director David B. Reiner acquired 3,500 shares of Altisource Residential Corp. stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $11.57 per share, for a total transaction of $40,495.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO George G. Ellison acquired 22,000 shares of Altisource Residential Corp. stock in a transaction on Thursday, November 10th. The shares were bought at an average price of $11.30 per share, for a total transaction of $248,600.00. The disclosure for this purchase can be found here. Company insiders own 0.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. KCG Holdings Inc. bought a new position in Altisource Residential Corp. during the third quarter worth approximately $117,000. BlackRock Inc. increased its position in Altisource Residential Corp. by 231.5% in the second quarter. BlackRock Inc. now owns 15,077 shares of the company’s stock worth $138,000 after buying an additional 10,529 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Altisource Residential Corp. during the second quarter worth about $141,000. Mackenzie Financial Corp acquired a new position in Altisource Residential Corp. during the third quarter worth about $141,000. Finally, SG Americas Securities LLC acquired a new position in Altisource Residential Corp. during the third quarter worth about $158,000. Hedge funds and other institutional investors own 72.83% of the company’s stock.
Altisource Residential Corp. Company Profile
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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