Zacks Investment Research Upgrades Altisource Residential Corporation (RESI) to Hold
Altisource Residential Corporation (NYSE:RESI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday, July 12th.
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 firms have also recently weighed in on RESI. Instinet reiterated a “buy” rating and set a $18.00 price objective (up from $15.00) on shares of Altisource Residential Corporation in a research report on Monday, March 20th. Citigroup Inc. lifted their target price on shares of Altisource Residential Corporation from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 20th. Deutsche Bank AG decreased their target price on shares of Altisource Residential Corporation from $17.50 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, March 22nd. Finally, ValuEngine raised shares of Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.50.
Altisource Residential Corporation (NYSE RESI) opened at 12.77 on Wednesday. The firm’s 50 day moving average price is $13.03 and its 200-day moving average price is $13.67. The stock’s market cap is $683.39 million. Altisource Residential Corporation has a 52 week low of $9.76 and a 52 week high of $15.66.
Altisource Residential Corporation (NYSE:RESI) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.59) by $0.33. Altisource Residential Corporation had a negative return on equity of 21.07% and a negative net margin of 503.37%. The firm had revenue of $29.30 million for the quarter, compared to analysts’ expectations of $33.38 million. During the same quarter in the previous year, the firm posted $0.30 earnings per share. The company’s revenue for the quarter was down 26.9% on a year-over-year basis. Analysts expect that Altisource Residential Corporation will post ($2.59) EPS for the current year.
In related news, CEO George G. Ellison acquired 10,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were bought at an average price of $14.24 per share, for a total transaction of $142,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.12% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. State Street Corp boosted its stake in Altisource Residential Corporation by 2.8% in the fourth quarter. State Street Corp now owns 1,107,235 shares of the real estate investment trust’s stock worth $12,225,000 after buying an additional 30,410 shares during the last quarter. FMR LLC raised its position in Altisource Residential Corporation by 17.4% in the fourth quarter. FMR LLC now owns 7,428,416 shares of the real estate investment trust’s stock worth $82,009,000 after buying an additional 1,100,086 shares during the period. Renaissance Technologies LLC raised its position in Altisource Residential Corporation by 38.2% in the fourth quarter. Renaissance Technologies LLC now owns 451,225 shares of the real estate investment trust’s stock worth $4,982,000 after buying an additional 124,625 shares during the period. GSA Capital Partners LLP purchased a new position in Altisource Residential Corporation during the fourth quarter worth approximately $144,000. Finally, Tudor Investment Corp Et Al purchased a new position in Altisource Residential Corporation during the fourth quarter worth approximately $159,000. 74.07% of the stock is currently owned by institutional investors and hedge funds.
Altisource Residential Corporation 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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