Altisource Residential Corp (NYSE:RESI) released its earnings results on Tuesday. The real estate investment trust reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.33. The firm had revenue of $29.30 million for the quarter, compared to analyst estimates of $33.38 million. Altisource Residential Corp had a negative return on equity of 16.34% and a negative net margin of 338.43%. Altisource Residential Corp’s revenue was down 26.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 earnings per share.
Shares of Altisource Residential Corp (NYSE:RESI) traded down 0.21% during midday trading on Friday, hitting $14.27. The stock had a trading volume of 135,966 shares. Altisource Residential Corp has a one year low of $7.81 and a one year high of $15.66. The firm’s 50-day moving average is $14.73 and its 200 day moving average is $12.91. The company’s market capitalization is $763.66 million.
A number of brokerages recently weighed in on RESI. Instinet reissued a “buy” rating and issued a $18.00 price target (up previously from $15.00) on shares of Altisource Residential Corp in a research note on Monday, March 20th. Citigroup Inc lifted their price target on Altisource Residential Corp from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Monday, March 20th. Zacks Investment Research raised Altisource Residential Corp from a “hold” rating to a “strong-buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, May 3rd. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $14.00 price target on shares of Altisource Residential Corp in a research note on Thursday, March 2nd. Finally, Deutsche Bank AG decreased their price objective on Altisource Residential Corp from $17.50 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, March 22nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $15.50.
In related news, CEO George G. Ellison purchased 20,000 shares of Altisource Residential Corp stock in a transaction that occurred on Friday, March 3rd. The stock was purchased at an average cost of $14.47 per share, with a total value of $289,400.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.12% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP boosted its position in shares of Altisource Residential Corp by 1,008.9% in 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 bought a new position in shares of Altisource Residential Corp during the first quarter valued at approximately $157,000. GSA Capital Partners LLP bought a new position in shares of Altisource Residential Corp during the fourth quarter valued at approximately $144,000. Tudor Investment Corp Et Al acquired a new stake in Altisource Residential Corp during the fourth quarter worth about $159,000. Finally, Independent Portfolio Consultants Inc. acquired a new stake in Altisource Residential Corp during the first quarter worth about $286,000. 73.38% of the stock is owned by hedge funds and other institutional investors.
Altisource Residential Corp 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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