Altisource Residential (RESI) Rating Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Altisource Residential (NYSE:RESI) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

Several other research firms have also issued reports on RESI. Zacks Investment Research raised shares of Altisource Residential from a sell rating to a hold rating in a research note on Wednesday, March 14th. JMP Securities raised shares of Altisource Residential from a market perform rating to an outperform rating and set a $15.00 price objective for the company in a research note on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $15.33.

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Shares of NYSE:RESI opened at $9.75 on Thursday. Altisource Residential has a 12-month low of $9.56 and a 12-month high of $15.66.

Altisource Residential (NYSE:RESI) last issued its earnings results on Thursday, March 1st. The real estate investment trust reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.59) by ($0.11). The company had revenue of $27.80 million for the quarter, compared to analyst estimates of $32.77 million. Altisource Residential had a negative net margin of 196.93% and a negative return on equity of 25.77%. The company’s quarterly revenue was up 129.8% on a year-over-year basis. During the same period last year, the business earned ($1.14) EPS. analysts forecast that Altisource Residential will post -1.55 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Friday, March 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.15%. The ex-dividend date was Wednesday, March 28th.

Hedge funds have recently added to or reduced their stakes in the stock. California Public Employees Retirement System lifted its stake in shares of Altisource Residential by 18.5% in the 3rd quarter. California Public Employees Retirement System now owns 241,173 shares of the real estate investment trust’s stock valued at $2,679,000 after purchasing an additional 37,573 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in Altisource Residential in the 4th quarter worth $261,000. QS Investors LLC bought a new position in Altisource Residential in the 4th quarter worth $128,000. GSA Capital Partners LLP bought a new position in Altisource Residential in the 3rd quarter worth $1,188,000. Finally, Deer Park Road Corp bought a new position in Altisource Residential in the 4th quarter worth $31,845,000. 79.28% of the stock is owned by institutional investors and hedge funds.

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About Altisource Residential

Front Yard Residential Corporation, formerly 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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