Altisource Residential Corp (NYSE:RESI) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,562,061 shares, a growth of 46.0% from the November 30th total of 1,069,849 shares. Based on an average trading volume of 240,572 shares, the days-to-cover ratio is presently 6.5 days. Approximately 3.1% of the shares of the stock are sold short.
A number of research firms have recently commented on RESI. Zacks Investment Research downgraded Altisource Residential from a “buy” rating to a “hold” rating in a research report on Wednesday, October 4th. BidaskClub upgraded Altisource Residential from a “strong sell” rating to a “sell” rating in a research report on Saturday, November 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Altisource Residential presently has an average rating of “Hold” and an average target price of $15.43.
A number of large investors have recently added to or reduced their stakes in RESI. Russell Investments Group Ltd. raised its holdings in Altisource Residential by 19.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 61,546 shares of the real estate investment trust’s stock valued at $797,000 after buying an additional 10,025 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in Altisource Residential by 11.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 451,280 shares of the real estate investment trust’s stock valued at $5,840,000 after buying an additional 45,562 shares during the period. Rhumbline Advisers raised its holdings in Altisource Residential by 9.1% during the 2nd quarter. Rhumbline Advisers now owns 68,655 shares of the real estate investment trust’s stock valued at $888,000 after buying an additional 5,703 shares during the period. SG Americas Securities LLC purchased a new stake in Altisource Residential during the 2nd quarter valued at $114,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in Altisource Residential during the 2nd quarter valued at $773,000. Institutional investors own 70.45% of the company’s stock.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.60 annualized dividend and a yield of 5.09%. Altisource Residential’s payout ratio is presently -15.38%.
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About Altisource Residential
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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