Altisource Residential Corporation (RESI) Stake Boosted by Laurel Wealth Advisors Inc.
Laurel Wealth Advisors Inc. lifted its position in shares of Altisource Residential Corporation (NYSE:RESI) by 12.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,893 shares of the real estate investment trust’s stock after purchasing an additional 6,410 shares during the quarter. Laurel Wealth Advisors Inc. owned 0.11% of Altisource Residential Corporation worth $775,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio raised its holdings in shares of Altisource Residential Corporation by 27.9% during the first quarter. Public Employees Retirement System of Ohio now owns 7,437 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 1,623 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Altisource Residential Corporation during the second quarter worth $114,000. Quantbot Technologies LP raised its holdings in shares of Altisource Residential Corporation by 1,008.9% during the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock worth $148,000 after acquiring an additional 8,878 shares during the period. Utah Retirement Systems acquired a new stake in shares of Altisource Residential Corporation during the first quarter worth $157,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Altisource Residential Corporation during the second quarter worth $294,000. 73.49% of the stock is currently owned by institutional investors.
Shares of Altisource Residential Corporation (NYSE:RESI) traded down 0.18% during midday trading on Monday, reaching $11.30. 31,912 shares of the company’s stock traded hands. The firm’s market cap is $602.96 million. Altisource Residential Corporation has a 52-week low of $9.86 and a 52-week high of $15.66. The company has a 50 day moving average of $11.47 and a 200 day moving average of $13.20.
Altisource Residential Corporation (NYSE:RESI) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($1.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($0.30). Altisource Residential Corporation had a negative return on equity of 21.82% and a negative net margin of 378.17%. The business had revenue of $30.10 million for the quarter, compared to analyst estimates of $32.55 million. During the same quarter in the previous year, the company posted ($1.16) EPS. The business’s quarterly revenue was up 250.0% on a year-over-year basis. On average, equities analysts predict that Altisource Residential Corporation will post ($2.62) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a dividend yield of 5.30%. Altisource Residential Corporation’s dividend payout ratio is currently -14.42%.
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RESI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Altisource Residential Corporation from a “sell” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Thursday, August 31st. BidaskClub lowered shares of Altisource Residential Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, Northland Securities restated a “buy” rating and set a $17.00 price objective on shares of Altisource Residential Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.38.
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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