Altisource Residential Corporation (NYSE:RESI)‘s stock had its “buy” rating reaffirmed by research analysts at Northland Securities in a note issued to investors on Thursday. They presently have a $17.00 price objective on the real estate investment trust’s stock. Northland Securities’ target price would indicate a potential upside of 38.66% from the stock’s current price.

RESI has been the subject of several other reports. Zacks Investment Research raised Altisource Residential Corporation from a “hold” rating to a “strong-buy” rating and set a $17.00 price target for the company in a report on Wednesday, May 3rd. BidaskClub cut Altisource Residential Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Finally, ValuEngine raised Altisource Residential Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $15.67.

Shares of Altisource Residential Corporation (NYSE:RESI) opened at 12.26 on Thursday. The firm’s market capitalization is $656.09 million. The company has a 50-day moving average price of $12.94 and a 200 day moving average price of $13.68. Altisource Residential Corporation has a 12-month low of $9.76 and a 12-month high of $15.66.

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 (EPS) 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 net margin of 378.17% and a negative return on equity of 21.01%. The business’s quarterly revenue was up 250.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.16) earnings per share. Equities research analysts expect that Altisource Residential Corporation will post ($2.04) earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. BW Gestao de Investimentos Ltda. bought a new position in shares of Altisource Residential Corporation during the first quarter valued at $470,000. Parametric Portfolio Associates LLC raised its position in shares of Altisource Residential Corporation by 73.6% in the first quarter. Parametric Portfolio Associates LLC now owns 140,640 shares of the real estate investment trust’s stock valued at $2,145,000 after buying an additional 59,636 shares during the last quarter. Hilton Capital Management LLC acquired a new position in shares of Altisource Residential Corporation during the first quarter valued at about $10,521,000. UBS Asset Management Americas Inc. raised its position in shares of Altisource Residential Corporation by 59.4% in the first quarter. UBS Asset Management Americas Inc. now owns 33,959 shares of the real estate investment trust’s stock valued at $518,000 after buying an additional 12,659 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Altisource Residential Corporation by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 265,618 shares of the real estate investment trust’s stock valued at $4,051,000 after buying an additional 17,342 shares during the last quarter. 74.07% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Altisource Residential Corporation (NYSE:RESI)

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