$29.93 Million in Sales Expected for Altisource Residential Corporation (NYSE:RESI) This Quarter
Equities analysts expect Altisource Residential Corporation (NYSE:RESI) to report $29.93 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Altisource Residential Corporation’s earnings. The lowest sales estimate is $27.59 million and the highest is $32.27 million. Altisource Residential Corporation reported sales of $240,000.00 during the same quarter last year, which would suggest a positive year over year growth rate of 12,370.8%. The company is expected to report its next earnings report before the market opens on Tuesday, August 8th.
According to Zacks, analysts expect that Altisource Residential Corporation will report full-year sales of $29.93 million for the current year, with estimates ranging from $134.24 million to $137.81 million. For the next fiscal year, analysts forecast that the business will report sales of $213.28 million per share. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Altisource Residential Corporation.
Altisource Residential Corporation (NYSE:RESI) last posted its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported ($0.92) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by $0.33. The firm had revenue of $29.30 million during the quarter, compared to the consensus estimate of $33.38 million. Altisource Residential Corporation had a negative net margin of 503.37% and a negative return on equity of 21.07%. Altisource Residential Corporation’s revenue was down 26.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.30 EPS.
RESI has been the topic of a number of research reports. Zacks Investment Research upgraded Altisource Residential Corporation from a “hold” rating to a “strong-buy” rating and set a $17.00 price objective on the stock in a research report on Wednesday, May 3rd. ValuEngine upgraded Altisource Residential Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub lowered Altisource Residential Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Altisource Residential Corporation presently has a consensus rating of “Hold” and an average target price of $15.50.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.83%. Altisource Residential Corporation’s dividend payout ratio (DPR) is presently -14.02%.
In related news, CEO George G. Ellison purchased 10,000 shares of Altisource Residential Corporation stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $14.24 per share, for a total transaction of $142,400.00. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.12% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Altisource Residential Corporation by 27.9% in 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 buying an additional 1,623 shares during the period. SG Americas Securities LLC bought a new stake in Altisource Residential Corporation during the second quarter worth approximately $114,000. Quantbot Technologies LP raised its stake in Altisource Residential Corporation by 1,008.9% in the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 8,878 shares during the period. Utah Retirement Systems bought a new stake in Altisource Residential Corporation during the first quarter worth approximately $157,000. Finally, GSA Capital Partners LLP bought a new stake in Altisource Residential Corporation during the fourth quarter worth approximately $144,000. Hedge funds and other institutional investors own 74.07% of the company’s stock.
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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