Altisource Residential Corporation (RESI) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research lowered shares of Altisource Residential Corporation (NYSE:RESI) from a buy rating to a hold rating in a research report released on Wednesday morning.
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. “
RESI has been the topic of a number of other research reports. Northland Securities reiterated a buy rating and issued a $17.00 price objective on shares of Altisource Residential Corporation in a research note on Thursday, August 10th. BidaskClub lowered shares of Altisource Residential Corporation from a hold rating to a sell rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $15.38.
Shares of Altisource Residential Corporation (NYSE:RESI) opened at 11.32 on Wednesday. Altisource Residential Corporation has a 12 month low of $9.86 and a 12 month high of $15.66. The company’s market cap is $604.02 million. The stock’s 50 day moving average is $11.47 and its 200-day moving average is $13.20.
Altisource Residential Corporation (NYSE:RESI) last released its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.74) by ($0.30). The business had revenue of $30.10 million during the quarter, compared to analyst estimates of $32.55 million. Altisource Residential Corporation had a negative return on equity of 21.82% and a negative net margin of 378.17%. The firm’s revenue was up 250.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.16) EPS. On average, equities analysts forecast that Altisource Residential Corporation will post ($2.62) EPS for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 29th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.60 annualized dividend and a yield of 5.30%. Altisource Residential Corporation’s dividend payout ratio is presently -14.42%.
A number of hedge funds have recently added to or reduced their stakes in RESI. Public Employees Retirement System of Ohio grew its position in Altisource Residential Corporation by 27.9% during the first quarter. Public Employees Retirement System of Ohio now owns 7,437 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,623 shares during the period. SG Americas Securities LLC acquired a new stake in Altisource Residential Corporation during the second quarter valued at $114,000. Quantbot Technologies LP grew its position in Altisource Residential Corporation by 1,008.9% during the first quarter. Quantbot Technologies LP now owns 9,758 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 8,878 shares during the period. Utah Retirement Systems acquired a new stake in Altisource Residential Corporation during the first quarter valued at $157,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Altisource Residential Corporation during the second quarter valued at $294,000. Institutional investors own 73.49% of the company’s stock.
About Altisource Residential Corporation
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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