Altisource Residential Corp. (RESI) Upgraded at Zacks Investment Research
Altisource Residential Corp. (NYSE:RESI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
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. “
Other equities research analysts have also issued research reports about the company. Citigroup Inc. boosted their price target on Altisource Residential Corp. from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 17th. Nomura restated a “buy” rating and set a $15.00 price target on shares of Altisource Residential Corp. in a research note on Friday, September 23rd. Northland Securities initiated coverage on Altisource Residential Corp. in a research note on Thursday, August 18th. They set an “outperform” rating on the stock. Finally, Deutsche Bank AG set a $18.50 price target on Altisource Residential Corp. and gave the stock a “buy” rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Altisource Residential Corp. presently has an average rating of “Hold” and a consensus target price of $14.50.
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Shares of Altisource Residential Corp. (NYSE:RESI) opened at 10.14 on Wednesday. The firm’s 50-day moving average is $10.58 and its 200-day moving average is $10.32. The company’s market cap is $552.28 million. Altisource Residential Corp. has a 1-year low of $7.81 and a 1-year high of $15.47.
Altisource Residential Corp. (NYSE:RESI) last announced its earnings results on Monday, August 8th. The company reported ($1.16) EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by $1.30. Altisource Residential Corp. had a negative return on equity of 10.58% and a negative net margin of 146.96%. During the same quarter in the prior year, the company earned $0.23 earnings per share. On average, equities analysts forecast that Altisource Residential Corp. will post ($2.56) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Thursday, October 6th were given a $0.15 dividend. The ex-dividend date was Tuesday, October 4th. This represents a $0.60 dividend on an annualized basis and a yield of 5.92%. Altisource Residential Corp.’s dividend payout ratio is currently -18.46%.
A number of large investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its stake in shares of Altisource Residential Corp. by 15.2% in the second quarter. BlackRock Fund Advisors now owns 2,454,864 shares of the company’s stock worth $22,560,000 after buying an additional 324,530 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Altisource Residential Corp. by 3.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,561,324 shares of the company’s stock valued at $18,736,000 after buying an additional 49,026 shares in the last quarter. State Street Corp raised its stake in Altisource Residential Corp. by 1.4% in the second quarter. State Street Corp now owns 1,092,929 shares of the company’s stock valued at $10,043,000 after buying an additional 15,066 shares in the last quarter. Global X Management Co. LLC raised its stake in 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 in the last quarter. Finally, Barclays PLC raised its stake in Altisource Residential Corp. by 1.3% in the first quarter. Barclays PLC now owns 671,132 shares of the company’s stock valued at $8,054,000 after buying an additional 8,823 shares in the last quarter. Hedge funds and other institutional investors own 79.47% of the company’s stock.
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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