Altisource Residential Corp (RESI) Short Interest Up 93.7% in March

Altisource Residential Corp (NYSE:RESI) was the target of a large increase in short interest in the month of March. As of March 29th, there was short interest totalling 2,516,501 shares, an increase of 93.7% from the March 15th total of 1,299,195 shares. Approximately 5.2% of the shares of the company are short sold. Based on an average trading volume of 441,023 shares, the short-interest ratio is presently 5.7 days.

A number of analysts recently weighed in on RESI shares. ValuEngine cut shares of Altisource Residential from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. JMP Securities raised shares of Altisource Residential from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a report on Tuesday, January 30th. Finally, Zacks Investment Research cut shares of Altisource Residential from a “hold” rating to a “strong sell” rating in a report on Saturday, January 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $15.33.

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Altisource Residential stock opened at $9.72 on Tuesday. Altisource Residential has a 52 week low of $9.56 and a 52 week high of $15.66.

Altisource Residential (NYSE:RESI) last released its earnings results on Thursday, March 1st. The real estate investment trust reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm’s quarterly revenue was up 129.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.14) EPS. research analysts expect that Altisource Residential will post -1.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Friday, March 30th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, March 28th. This represents a $0.60 annualized dividend and a yield of 6.17%.

A number of institutional investors have recently added to or reduced their stakes in the business. Teachers Insurance & Annuity Association of America increased its stake in Altisource Residential by 10.1% during the 4th quarter. Teachers Insurance & Annuity Association of America now owns 53,951 shares of the real estate investment trust’s stock valued at $640,000 after buying an additional 4,971 shares during the period. SG Americas Securities LLC boosted its position in shares of Altisource Residential by 73.5% during the 3rd quarter. SG Americas Securities LLC now owns 15,248 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 6,462 shares in the last quarter. Kazazian Asset Management LLC boosted its position in shares of Altisource Residential by 3.2% during the 4th quarter. Kazazian Asset Management LLC now owns 221,882 shares of the real estate investment trust’s stock valued at $2,632,000 after purchasing an additional 6,957 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Altisource Residential by 66.2% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 22,600 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its position in shares of Altisource Residential by 69.9% during the 4th quarter. Capital Fund Management S.A. now owns 22,600 shares of the real estate investment trust’s stock valued at $268,000 after purchasing an additional 9,300 shares in the last quarter. 79.28% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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