Altisource Residential Corporation (RESI) Releases Quarterly Earnings Results, Beats Estimates By $1.14 EPS
Altisource Residential Corporation (NYSE:RESI) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.34) by $1.14, Briefing.com reports. The company had revenue of $33.00 million during the quarter, compared to analyst estimates of $33.72 million. Altisource Residential Corporation had a negative net margin of 378.17% and a negative return on equity of 21.82%. Altisource Residential Corporation’s quarterly revenue was up 243.8% compared to the same quarter last year. During the same period last year, the business earned ($1.06) EPS.
Altisource Residential Corporation (NYSE RESI) traded down $0.36 during trading hours on Tuesday, reaching $10.64. 417,204 shares of the company’s stock were exchanged, compared to its average volume of 194,260. Altisource Residential Corporation has a 1-year low of $9.90 and a 1-year high of $15.66.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.60 dividend on an annualized basis and a yield of 5.45%. Altisource Residential Corporation’s dividend payout ratio is currently -14.42%.
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Several brokerages recently issued reports on RESI. Zacks Investment Research lowered shares of Altisource Residential Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, October 4th. BidaskClub lowered shares of Altisource Residential Corporation from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 2nd. Finally, Northland Securities reiterated a “buy” rating and issued a $17.00 price target on shares of Altisource Residential Corporation in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. 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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