Altisource Residential Corporation (RESI) Expected to Post Quarterly Sales of $30.37 Million

Wall Street brokerages predict that Altisource Residential Corporation (NYSE:RESI) will post $30.37 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Altisource Residential’s earnings. The lowest sales estimate is $23.62 million and the highest is $37.11 million. Altisource Residential posted sales of $12.06 million in the same quarter last year, which would indicate a positive year over year growth rate of 151.8%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, March 7th.

According to Zacks, analysts expect that Altisource Residential will report full-year sales of $30.37 million for the current year, with estimates ranging from $90.03 million to $114.25 million. For the next year, analysts forecast that the company will post sales of $182.46 million per share. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for Altisource Residential.

Several analysts have weighed in on the company. BidaskClub raised Altisource Residential from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 11th. Northland Securities reaffirmed a “buy” rating and set a $17.00 target price on shares of Altisource Residential in a research note on Thursday, August 10th. Finally, Zacks Investment Research raised Altisource Residential from a “sell” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $15.38.

Institutional investors and hedge funds have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Altisource Residential by 11.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 451,280 shares of the real estate investment trust’s stock worth $5,840,000 after buying an additional 45,562 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Altisource Residential by 106.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,800,156 shares of the real estate investment trust’s stock worth $100,934,000 after buying an additional 4,016,607 shares in the last quarter. Balyasny Asset Management LLC bought a new stake in shares of Altisource Residential in the 2nd quarter worth $10,355,000. Alliancebernstein L.P. raised its stake in shares of Altisource Residential by 15.8% in the 2nd quarter. Alliancebernstein L.P. now owns 99,430 shares of the real estate investment trust’s stock worth $1,287,000 after buying an additional 13,550 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Altisource Residential in the 2nd quarter worth $294,000. 72.28% of the stock is currently owned by institutional investors.

Shares of Altisource Residential (NYSE RESI) opened at $11.15 on Monday. Altisource Residential has a 12 month low of $10.37 and a 12 month high of $15.66.

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Altisource Residential 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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